The effect of countries’ ESG ratings on their sovereign borrowing costs

Patricia Crifo, Marc-Arthur Diaye (marc-arthur.diaye@univ-paris1.fr) and Rim Oueghlissi
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Rim Oueghlissi: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne

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Abstract: 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. © 2017 Board of Trustees of the University of Illinois

Keywords: ESG performance; Extra-financial ratings; Government bond spreads (search for similar items in EconPapers)
Date: 2017-11
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Citations: View citations in EconPapers (17)

Published in Quarterly Review of Economics and Finance, 2017, 66, pp.13--20. ⟨10.1016/j.qref.2017.04.011⟩

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Journal Article: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
Working Paper: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
Working Paper: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02877953

DOI: 10.1016/j.qref.2017.04.011

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