Green bonds capital returns the impact of market and macroeconomic variables
This chapter is an investigation on the determinants of Green Bonds capital returns, with a focus on market and macroeconomic variables. These instruments are showing an exponential growth, as tested by Initiative Climate Bonds. In our study we observe Borsa Italiana market over the period 2016-2019...
Gespeichert in:
| Veröffentlicht in: | Contemporary issues in sustainable finance |
|---|---|
| 1. Verfasser: | |
| Weitere Verfasser: | |
| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
2021
|
| Schlagworte: | |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
Tag hinzufügen | Zusammenfassung: | This chapter is an investigation on the determinants of Green Bonds capital returns, with a focus on market and macroeconomic variables. These instruments are showing an exponential growth, as tested by Initiative Climate Bonds. In our study we observe Borsa Italiana market over the period 2016-2019, adopting Arellano-Bond dynamic panel regressions. Our results state peculiarities, like the negative autocorrelation or the lacking influence of stock market. We highlight that in times of unusual turbulence, green bonds are exposed to market volatility like conventional ones. Definitively, since recent research has shown the deep impact of market and macroeconomic variables on the latter, our aim is investigating if the same trend deals with Green Bonds or if there are some specificities. |
|---|---|
| ISBN: | 9783030651329 |