The effect of countries’ ESG ratings on their sovereign borrowing costs
Marc-Arthur Diaye and
The Quarterly Review of Economics and Finance, 2017, vol. 66, issue C, 13-20
We examine whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matters for sovereign bonds markets. Using a panel regression model over a data set with 23 OECD countries from 2007 to 2012, we show that ESG ratings significantly decrease government bond spreads.
Keywords: Extra-financial ratings; ESG performance; Government bond spreads (search for similar items in EconPapers)
JEL-codes: G11 F34 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:66:y:2017:i:c:p:13-20
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