Do green bonds affect stock returns and corporate environmental performance? Evidence from China

Ruixin Fan, Xiong Xiong, Youwei Li and Ya Gao

Economics Letters, 2023, vol. 232, issue C

Abstract: We reveal the positive short-term stock market reaction to the announcement of green bond issuance, which does not exist for factual green bonds. For long-term performance, green bond issuance promotes corporate environmental information disclosure and attracts green investors.

Keywords: Green bond issuance; Factual green bonds; Market reaction; Environmental information disclosure; Green investors (search for similar items in EconPapers)
JEL-codes: G14 G32 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:232:y:2023:i:c:s0165176523003476

DOI: 10.1016/j.econlet.2023.111322

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