Institutional Investors and Public Authority Ownership Impact on Green Bonds Issue: Evidence from France

Houssein Ballouk (), Salma Mefteh-Wali, Ghada Tabbah and Sami Ben Jabeur ()
Additional contact information
Houssein Ballouk: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Salma Mefteh-Wali: ESSCA - ESSCA – École supérieure des sciences commerciales d'Angers = ESSCA Business School
Ghada Tabbah: LU / ULB - الجامعة اللبنانية [بيروت] = Lebanese University [Beirut] = Université libanaise [Beyrouth]
Sami Ben Jabeur: ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University), UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University)

Post-Print from HAL

Abstract: Green bonds are one of the most significant financial innovations to address the impacts of climate change and to help companies and governments to finance their ecological transition. The green bond market has been growing rapidly worldwide since its debut in 2007. In this paper, we present the first empirical study on the effects of ownership structure on green bond issuance by firms in France from 2013 to 2019. After compiling a comprehensive green bond dataset, we used legitimacy, stakeholders, and slack resources theories to investigate institutional investors and public authority ownership impact on green bond issuance. Our results confirm the heterogeneity of institutional investors and highlight a positive relation between insurance company and public authority ownership and green bond issuance.

Date: 2021-12-01
References: Add references at CitEc
Citations:

Published in Journal of Innovation Economics & Management, 2021, Prépublication, pp.I130-23. ⟨10.3917/jie.pr1.0130⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03798900

DOI: 10.3917/jie.pr1.0130

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().