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the green bond market. Central banks are also expected to play a major role in shaping the pricing and adoption of green …
Persistent link: https://www.econbiz.de/10012816481
model to demonstrate the impact of policy difference on the choice of green bond financing instruments. The results indicate … green bonds under policy difference caused by “multi-sector supervision” on China’s bond markets. The government must make … full use of these key factors to formulate relevant policies to promote the development of green bond financing market. …
Persistent link: https://www.econbiz.de/10012115793
Persistent link: https://www.econbiz.de/10011811102
When do wholesalers issue green bonds to finance their socially responsible activities instead of charging a premium for the products they produce? We show that in less competitive retail markets when retailers can "skim" more of the premium that end consumers pay for socially responsible...
Persistent link: https://www.econbiz.de/10012861601
This paper evaluates the impact of a screening process based on Environment, Social, and Governance (ESG) scores for an otherwise passive portfolio of investment-grade corporate bonds. The main result is that this filtering leads to a substantial improvement of the targeted ESG score without...
Persistent link: https://www.econbiz.de/10012800004
This study compares credit spreads and the pricing of securitization and covered bonds. Using a sample of 18,309 bonds issued by European banks in the 2000-2016 period, we find that asset-backed securities (ABS), mortgage-backed securities (MBS), public covered bonds (PCB), and mortgage covered...
Persistent link: https://www.econbiz.de/10012853679
Using an international sample of corporate Green bond issuances over the recent period, this paper highlights the … potential consequences of the issuance of a Green bond on the issuer's financial performance. Starting with a first sample of … 2079 Green bond issuances of 190 unique issuers from 2009 to 2018, we investigate only corporate green bond issuances. Our …
Persistent link: https://www.econbiz.de/10012173945
bond - to shareholders Finally, we document a significant relationship between the mispricing measure and the issuing firms …
Persistent link: https://www.econbiz.de/10013169209
corresponding bond and its issuer. We analyze a large sample of more than 1,500 Green bonds with respect to their pricing on the …, credibility of the Green label reveals to be of particular importance. Investors are more likely to consider a corporate bond as … Green, i.e., be willing to pay a premium for it, when the bond is certified as such by a third party, or when the bond is …
Persistent link: https://www.econbiz.de/10012891156
Green bonds are about a decade old financial instrument with cash flows earmarked to improve the environment or combat climate change. We show the spectacular growth of the asset class over time, but note that it is currently still less than 1% of the entire fixed income market. The composition...
Persistent link: https://www.econbiz.de/10013235725