Detail Corporate green bonds Bibliografi Author: Flammer, Caroline Topik: Sustainable ?nance; Climate change; Green bonds; Impact investing; Corporate sustainability Bahasa: (EN )     Penerbit: Elsevier     Tempat Terbit: New York    Tahun Terbit: 2021     Jenis: Article - diterbitkan di jurnal ilmiah internasional Fulltext: Corporate green bonds.pdf (843.08KB; 1 download) Abstract I examine corporate green bonds, whose proceeds ?nance climate-friendly projects. These bonds have become more prevalent over time, especially in industries where the envi- ronment is ?nancially material to ?rm operations. I show that investors respond posi- tively to the issuance announcement, a response that is stronger for ?rst-time issuers and bonds certi?ed by third parties. The issuers improve their environmental performance post-issuance (i.e., higher environmental ratings and lower CO 2 emissions) and experience an increase in ownership by long-term and green investors. Overall, the ?ndings are con- sistent with a signaling argument—by issuing green bonds, companies credibly signal their commitment toward the environment. Kajian editorial Article from : Journal of Financial Economics, Volume 142, Issue 2, November 2021 Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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