Do investors get an advantage from corporate green bond issuance? A cross-country study
This study examines the stock's response to corporate green bond issuance announcements. Analyzing a dataset of 230 global corporate green bond issuers from 38 countries between 2013 and 2022 through an event study, the findings reveal a positive market reaction, especially within the non-finan...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Sciendo
2025
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| Online Access: | http://psasir.upm.edu.my/id/eprint/118810/ http://psasir.upm.edu.my/id/eprint/118810/1/118810.pdf |
| _version_ | 1848867794281562112 |
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| author | Riaz, Tabassum Selamat, Aslam Izah Mohd Nor, Normaziah Sheikh Hassan, Ahmad Fahmi |
| author_facet | Riaz, Tabassum Selamat, Aslam Izah Mohd Nor, Normaziah Sheikh Hassan, Ahmad Fahmi |
| author_sort | Riaz, Tabassum |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This study examines the stock's response to corporate green bond issuance announcements. Analyzing a dataset of 230 global corporate green bond issuers from 38 countries between 2013 and 2022 through an event study, the findings reveal a positive market reaction, especially within the non-financial corporate sector. Green bonds in this sector are primarily used to fund their own eco-friendly projects, signaling a commitment to environmental sustainability, and generating investor confidence. Variation in market reactions across countries is noted, with developed countries exhibiting a significantly more positive response. This suggests that environmental initiatives hold greater value in these regions, highlighting the alignment between sustainable practices and investor sentiment. These results emphasize the potential advantages of integrating green bonds and their environmental commitments into investment strategies, particularly for portfolio diversification and attracting investors seeking sustainable opportunities. |
| first_indexed | 2025-11-15T14:42:09Z |
| format | Article |
| id | upm-118810 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T14:42:09Z |
| publishDate | 2025 |
| publisher | Sciendo |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1188102025-07-24T06:32:36Z http://psasir.upm.edu.my/id/eprint/118810/ Do investors get an advantage from corporate green bond issuance? A cross-country study Riaz, Tabassum Selamat, Aslam Izah Mohd Nor, Normaziah Sheikh Hassan, Ahmad Fahmi This study examines the stock's response to corporate green bond issuance announcements. Analyzing a dataset of 230 global corporate green bond issuers from 38 countries between 2013 and 2022 through an event study, the findings reveal a positive market reaction, especially within the non-financial corporate sector. Green bonds in this sector are primarily used to fund their own eco-friendly projects, signaling a commitment to environmental sustainability, and generating investor confidence. Variation in market reactions across countries is noted, with developed countries exhibiting a significantly more positive response. This suggests that environmental initiatives hold greater value in these regions, highlighting the alignment between sustainable practices and investor sentiment. These results emphasize the potential advantages of integrating green bonds and their environmental commitments into investment strategies, particularly for portfolio diversification and attracting investors seeking sustainable opportunities. Sciendo 2025 Article PeerReviewed text en cc_by_nc_nd_4 http://psasir.upm.edu.my/id/eprint/118810/1/118810.pdf Riaz, Tabassum and Selamat, Aslam Izah and Mohd Nor, Normaziah and Sheikh Hassan, Ahmad Fahmi (2025) Do investors get an advantage from corporate green bond issuance? A cross-country study. Studia Universitatis Vasile Goldis Arad, Economics Series, 35 (2). pp. 1-37. ISSN 1584-2339; eISSN: 2285-3065 https://sciendo.com/article/10.2478/sues-2025-0006 10.2478/sues-2025-0006 |
| spellingShingle | Riaz, Tabassum Selamat, Aslam Izah Mohd Nor, Normaziah Sheikh Hassan, Ahmad Fahmi Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title | Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title_full | Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title_fullStr | Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title_full_unstemmed | Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title_short | Do investors get an advantage from corporate green bond issuance? A cross-country study |
| title_sort | do investors get an advantage from corporate green bond issuance? a cross-country study |
| url | http://psasir.upm.edu.my/id/eprint/118810/ http://psasir.upm.edu.my/id/eprint/118810/ http://psasir.upm.edu.my/id/eprint/118810/ http://psasir.upm.edu.my/id/eprint/118810/1/118810.pdf |