XF-330EXXD-L Research / Academic Paper ACTIVE
Does the issuance of green bonds nudge environmental responsibility engagements? Evidence from the Chinese green bond market
Abstract
Liu et al. Financial Innovation (2024) 10:92 https://doi.org/10.1186/s40854-024-00620-8 Financial Innovation RESEARCH Open Access Does the issuance of green bonds nudge environmental responsibility engagements? Evidence from the Chinese green bond market Ying Liu1, Hongyun Huang3*, William Mbanyele1, Fengrong Wang1* and Huiling Liu2 *Correspondence: hongyunhuang0628@163.com; wangfengrong@sdu.edu.cn 1 Center for Economic Research, Shandong University, Jinan 250100, China 2 School of Economics, Hefei University of Technology, Hefei 230601, China 3 Qingdao Institute of Humanities and Social Sciences, Shandong University, Qingdao 266237, China Abstract Policymakers and managers have increasingly adopted green bonds as a direct financing tool to address environmental degradation and climate change in emerg- ing economies; however, the increasing green washing sentiments in the green bond market raise questions on whether green bonds can nudge polluting businesses to achieve green transformation. Therefore, this study joins the controversial debate by investigating the impact of green bond issuance on corporate environmental responsibilities and the potential impact mechanisms and economic consequences. Using the data of Chinese listed enterprises from 2011 to 2020 and the staggered issu- ance of green bonds as plausibly exogenous shocks, we determine that the enterprises in the experimental group that issued green bonds increased their environmental performance compared to their …
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Topics
Asian MarketChina Green BondsCorporate EngagementEnvironmental Responsibility
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People Cited in This Document
- Yang author Chinese University
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Springer (Financial Innovation) (2024). Does the issuance of green bonds nudge environmental responsibility engagements? Evidence from the Chinese green bond market. XFID: XF-330EXXD-L. Retrieved from https://xframework.id/XF330EXXDL
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