Green bond underwriting, financial openness, and profitability of commercial banks

Tao Zhou, Gaohui Chen, Yuxin Su, Tingting Yang and Jie Ding

International Review of Financial Analysis, 2025, vol. 99, issue C

Abstract: Using data from Chinese listed commercial banks from 2012 to 2022 and a fixed-effects model, this study examines the relationship between green bond underwriting, financial openness, and commercial bank profitability and analyzes whether bank size plays a moderating role in this relationship. Results reveal that green bond underwriting harms commercial banks' profitability; financial openness improves their profitability; and bank size plays a crucial moderating role in the relationship between green bond underwriting and bank profitability, as well as between financial openness and bank profitability.

Keywords: Green bond underwriting; Financial openness; Profitability (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:99:y:2025:i:c:s1057521924008329

DOI: 10.1016/j.irfa.2024.103900

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