Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective
This paper shows that brand reputation alone may not be sufficient to help firms successfully issue green bonds and that they may need superior corporate social responsibility performance in the form of high ESG (Environmental, Social, and Governance) scores to unlock the full potential of their bra...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Wiley-Blackwell
2022
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| Online Access: | http://hdl.handle.net/20.500.11937/88679 |
| _version_ | 1848765061118558208 |
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| author | Cheng, Louis TW Sharma, Piyush Broadstock, David |
| author_facet | Cheng, Louis TW Sharma, Piyush Broadstock, David |
| author_sort | Cheng, Louis TW |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper shows that brand reputation alone may not be sufficient to help firms successfully issue green bonds and that they may need superior corporate social responsibility performance in the form of high ESG (Environmental, Social, and Governance) scores to unlock the full potential of their brand reputation. Using a sample of 338 international green bond issues across 108 unique firms, we found significant positive effects of ESG disclosure score and its interaction brand reputation on the issuance of green bonds while controlling for other variables, such as fixed effects of industry, region, and time. We also show that it is the S (Social) component of ESG and the interactions of its E (Environmental) and G (Governance) components with brand reputation which drive successful green bond issuance. Besides extending the current research on the impact of brand reputation and ESG on green bonds, these results also have important managerial implications for analysts, fund managers, and firms planning to raise green capital. |
| first_indexed | 2025-11-14T11:29:15Z |
| format | Journal Article |
| id | curtin-20.500.11937-88679 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:29:15Z |
| publishDate | 2022 |
| publisher | Wiley-Blackwell |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-886792024-06-18T00:05:05Z Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective Cheng, Louis TW Sharma, Piyush Broadstock, David This paper shows that brand reputation alone may not be sufficient to help firms successfully issue green bonds and that they may need superior corporate social responsibility performance in the form of high ESG (Environmental, Social, and Governance) scores to unlock the full potential of their brand reputation. Using a sample of 338 international green bond issues across 108 unique firms, we found significant positive effects of ESG disclosure score and its interaction brand reputation on the issuance of green bonds while controlling for other variables, such as fixed effects of industry, region, and time. We also show that it is the S (Social) component of ESG and the interactions of its E (Environmental) and G (Governance) components with brand reputation which drive successful green bond issuance. Besides extending the current research on the impact of brand reputation and ESG on green bonds, these results also have important managerial implications for analysts, fund managers, and firms planning to raise green capital. 2022 Journal Article http://hdl.handle.net/20.500.11937/88679 10.1002/bse.3161 Wiley-Blackwell fulltext |
| spellingShingle | Cheng, Louis TW Sharma, Piyush Broadstock, David Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title | Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title_full | Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title_fullStr | Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title_full_unstemmed | Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title_short | Interactive effects of brand reputation and ESG on green bonds success: A sustainable investment perspective |
| title_sort | interactive effects of brand reputation and esg on green bonds success: a sustainable investment perspective |
| url | http://hdl.handle.net/20.500.11937/88679 |