In the UK, the share of the international bonds rocketed while the share of government and domestic corporate bonds dropped significantly over the last 10 years. This paper investigates the firm specific factors behind the motivation of issuance of international bonds for the sample of Euro...

We study how firms' ownership structure affects the cost of debt using evidence from Chinese corporate bond market. Our result shows state, institutional, and foreign ownership all help to reduce firms' cost of debt. The effect of state ownership is more pronounced if the issuer is headquartered...

The green bond market has grown strongly in recent years, especially in the euro area. With regard to the European Union’s climate targets, it is likely that the demand for green bonds-bonds that specifically support sustainable projects-will continue to increase in the future. The European...

The rise of bond financing in EuropeUsing large panel data of public and private firms, this paper dissects the growth of bond financing in the Euro Area through the lens of the cross-section of issuers. In recent years, the composition of bond issuers has shifted, with the entry of many smaller...

We compare how bond market access affects firms' investment decisions in the United States and the euro area. Having a bond rating enables US corporations to invest more and undertake more acquisitions. In contrast, in the euro area, bond ratings have no effect on investment decisions....