XF-2YXZ32T-Z The price of going green: The role of greenness in green bond markets
Abstract
Abstract In this paper, we empirically investigate how greenness information is priced in the green bond market. Our comparison of liquidity‐adjusted yield premiums of green bonds versus synthetic conventional bonds indicates that, on average, there is no robust and significant yield premium or discount on green bonds. However, green bonds certified by an external reviewer enjoy a discount of about 6 bps. Furthermore, green bonds that obtain a Climate Bonds Initiative certificate show a discount of around 15 bps. The findings suggest that a universally accepted greenness measure can benefit the development of the green bond market.
Source: resolved
Topics
Cited by (18)
Other RESEARCH documents in the registry that cite this work.
- Can Sovereign Green Bonds Accelerate the Transition to Net-Zero Greenhouse Gas Emissions? (2024)
- Certification against greenwashing in nascent bond markets: lessons from African ESG bonds (2024)
- Pengembangan Green Bonds Di Indonesia: Upaya Pemerintah Untuk Mewujudkan Keuangan Berkelanjutan (2024)
- The impact of green bond issuance on carbon emission intensity and path analysis (2024)
- DOES TRANSPARENCY PAY OFF FOR GREEN BOND ISSUERS? EVIDENCE FROM EU STATE AGENCIES’ GREEN BONDS (2023)
- Do bond attributes affect green bond yield? Evidence from Indian green bonds (2023)
- Research on the Impact of Green Bonds on Credit Risk of Manufacturing Enterprises (2023)
- A bibliometric-qualitative literature review of green finance gap and future research directions (2022)
- Green bond vs conventional bond: outline the rationale behind issuance choices in China (2022) Abstract
- Is There a Greenium in Korean Bond Markets?: An Empirical Analysis of Bond Secondary-Market Trading Data* (2022)
- Municipal green bond yield behaviour (2022)
- Performance of Green Bonds in Emerging Capital Markets: An Analysis of Academic Contributions (2022)
- Corporate Green Bond and Stock Price Reaction (2021)
- Risk mitigation and return resilience for high yield bond ETFS with ESG components (2021) Abstract
- Understanding the preference of individual retail investors on green bond in India: An empirical study (2021)
- Are green bonds environmentally friendly and good performing assets? (2020) Abstract
- Certain Issues of Green Bonds and Their Perception by Financial Markets, with Focus on Hungary (2020)
- De-risking of Green Investments through a Green Bond Market: Empirics and a Dynamic Model (2020)
How to Cite This Record
Use the XFID in citations to create a stable, permanent reference that resolves to this registry entry regardless of the source URL.
Wiley (Business Strategy and the Environment) (2020). The price of going green: The role of greenness in green bond markets. XFID: XF-2YXZ32T-Z. Retrieved from https://xframework.id/XF2YXZ32TZ
XF-2YXZ32T-Z