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Title: | Does compliance to Green Bond Principles matter? Global Evidence |
Authors: | Nanayakkara, Madurika Colombage, Sisira |
Keywords: | Bond Market; Bid-ask spread; Green Bonds; Green Bond Principles; Compliance; Investor demand; Sustainability |
Issue Date: | 2022 |
Publisher: | AABFJ |
Citation: | Nanayakkara, Madurika and Colombage, Sisira(2022),Does compliance to Green Bond Principles matter? Global Evidence,AABFJ | Vol. 16, No.3 |
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. |
URI: | http://repository.kln.ac.lk/handle/123456789/25236 |
Appears in Collections: | Commerce and Financial Management |
Files in This Item:
File | Description | Size | Format | |
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Does Compliance to Green Bond Principles Matter Global Evidence-1.pdf | 42.23 kB | Adobe PDF | View/Open |
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