- Title
- Does compliance to Green Bond Principles matter? Global Evidence
- Creator
- Nanayakkara, Madurika; Colombage, Sisira
- Date
- 2022
- Type
- Text; Journal article
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/190638
- Identifier
- vital:17676
- Identifier
- ISSN:1834-2000 (ISSN)
- Abstract
- We examine the effect of degree of compliance with the Green Bond Principles (GBP) on investor demand for such bonds, using cross-sectional data for all countries in the Green Bond market over the period 2007-2019. We find a significantly positive effect of higher compliance with the GBPs on investor demand, as measured by Bid-Ask-Spread and Yield-spread, after controlling for common bond-specific and macroeconomic variables. However, our results showed no evidence that macroeconomic factors influenced Green Bond investments. Moreover, we also find a positive effect on investor demand when a bond is issued by a government agency, even if the degree of compliance is low.3. © 2022 Australasian Accounting Business and Finance Journal and Authors.
- Publisher
- University of Wollongong
- Relation
- Australasian Accounting, Business and Finance Journal Vol. 16, no. 3 (2022), p. 21-39
- Rights
- All metadata describing materials held in, or linked to, the repository is freely available under a CC0 licence
- Rights
- Copyright © 2022 Australasian Accounting Business and Finance Journal and Authors
- Subject
- 3501 Accounting, auditing and accountability; 3502 Banking, finance and investment; 3507 Strategy, management and organisational behaviour; Bid-ask spread; Bond Market; Compliance; Green Bond Principles; Green Bonds; Investor demand; Sustainability
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