Dursun-de-Neef, Özlem; Ongena, Steven; Tsonkova, Gergana - 2022 - This draft: May 20, 2022
This paper studies the development of a firm’s Environmental, Social, and Governance (ESG) performance following the issuance of “green loans” earmarked for green projects versus “sustainable loans” to firms bench-marked by ESG criteria. Firms issuing green loans appear to be effective...