Are corporate green bonds issued and traded at a premium? Evidence from France

Detalhes bibliográficos
Autor(a) principal: Mendonça, Carolina Mesquita Teives
Data de Publicação: 2022
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/155922
Resumo: This paper studies the existence of a green premium in the primary and secondary market using French corporate green bonds. We find that, while the yields of green bonds are on average lower than the yields of conventional bonds in the primary market, the results are not statistically significant. On the other hand, on the secondary market we find that green bonds trade tighter than non-green bonds. When splitting in rating groups, we find that A rated green bonds trade higher than conventional bonds.
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spelling Are corporate green bonds issued and traded at a premium? Evidence from FranceGreen bond premiumGreen bondsSustainable financeCredit ratingDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper studies the existence of a green premium in the primary and secondary market using French corporate green bonds. We find that, while the yields of green bonds are on average lower than the yields of conventional bonds in the primary market, the results are not statistically significant. On the other hand, on the secondary market we find that green bonds trade tighter than non-green bonds. When splitting in rating groups, we find that A rated green bonds trade higher than conventional bonds.Prado, Melissa PorrasRUNMendonça, Carolina Mesquita Teives2023-07-28T10:27:20Z2023-01-112022-12-162023-01-11T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/155922TID:203312210enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:38:31Zoai:run.unl.pt:10362/155922Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:56:16.264617Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Are corporate green bonds issued and traded at a premium? Evidence from France
title Are corporate green bonds issued and traded at a premium? Evidence from France
spellingShingle Are corporate green bonds issued and traded at a premium? Evidence from France
Mendonça, Carolina Mesquita Teives
Green bond premium
Green bonds
Sustainable finance
Credit rating
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Are corporate green bonds issued and traded at a premium? Evidence from France
title_full Are corporate green bonds issued and traded at a premium? Evidence from France
title_fullStr Are corporate green bonds issued and traded at a premium? Evidence from France
title_full_unstemmed Are corporate green bonds issued and traded at a premium? Evidence from France
title_sort Are corporate green bonds issued and traded at a premium? Evidence from France
author Mendonça, Carolina Mesquita Teives
author_facet Mendonça, Carolina Mesquita Teives
author_role author
dc.contributor.none.fl_str_mv Prado, Melissa Porras
RUN
dc.contributor.author.fl_str_mv Mendonça, Carolina Mesquita Teives
dc.subject.por.fl_str_mv Green bond premium
Green bonds
Sustainable finance
Credit rating
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Green bond premium
Green bonds
Sustainable finance
Credit rating
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This paper studies the existence of a green premium in the primary and secondary market using French corporate green bonds. We find that, while the yields of green bonds are on average lower than the yields of conventional bonds in the primary market, the results are not statistically significant. On the other hand, on the secondary market we find that green bonds trade tighter than non-green bonds. When splitting in rating groups, we find that A rated green bonds trade higher than conventional bonds.
publishDate 2022
dc.date.none.fl_str_mv 2022-12-16
2023-07-28T10:27:20Z
2023-01-11
2023-01-11T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/155922
TID:203312210
url http://hdl.handle.net/10362/155922
identifier_str_mv TID:203312210
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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