What is the impact of green bond issuance on company share price? / Xuecong MAO / 2022

Titre : What is the impact of green bond issuance on company share price? Type de document : Mémoire Auteurs : Xuecong MAO, Auteur Année de publication : 2022 Importance : 41 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de la page. Langues : Anglais (eng) Mots-clés : Management FINANCE VERTE ; OBLIGATION ; ACTIONNAIRE ; ENTREPRISE ; ENVIRONNEMENT Résumé : Recently climate change has been one of the biggest issues which are faced by the world. In such conditions, the sustainability and environment of a company play a significant role. Currently, a new form of financial derivative has been created where the investment is redirected to stop the climate change and serve the environment. This new financial derivative is called the “Green bond”. As stated by Chen, (2018), the World Bank and the European investment bank issued the first-ever green bond in the year 2007 and it was driven by the supranational organization at the initial time. For the very first time, it entered the public corporation in the year 2013 and since then the growth of the green bond has escalated in the market. When the fast-growing green bond market has been compared with academic research, a research lag has been found in understanding the determinates and effects of green bonds. There are few studies regarding the green bond and its effect, but most of them are focused on the global market as a whole and not on the individual market such as the European market. It is clear that such investment is beneficial for the environment but it is still not clear how the issue of a green bond affects the share price of the company.The main purpose of the study is to identify the impact of green bond issuance on the stock price of the companies and hence, the non-financial companies of the European market will be focused on which has issued green bonds in the last 10 years. As stated by Li et al., (2019) green bond is a new derivative instrument form in the market and hence, it is essential to identify how the issue of these derivatives affect the stock prices so far. The main research problem of this study will be as follows:“What is the impact of the issuance of the green bonds on the share price of the company?” Programme : MSc Finance, Investment & Wealth Management Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=566739