Siti Nurhidayah Mohd Roslen, Lee Sin Yee, Salizatul Aizah Ibrahim
{"title":"Green Bond and shareholders' wealth: a multi-country event study","authors":"Siti Nurhidayah Mohd Roslen, Lee Sin Yee, Salizatul Aizah Ibrahim","doi":"10.1504/IJGSB.2017.10005758","DOIUrl":null,"url":null,"abstract":"Recently, there has been increasing global interest and concerns towards sustainable and environmental friendly development among firms and investors. In conjunction to this rising demand, Green Bond market was introduced. In providing general overview on how Green Bond is perceived by shareholders, this study attempts to identify the shareholders' wealth reactions towards Green Bond announcements using multi-country samples. Specifically, we find that shareholders generally react positively a day after the Green Bond announcements were made by issuers. Overall, this study would be useful for future researchers who plan to explore the potential of using multi-country event study methodology and to add more evidence on existing literatures in relation to credit risk valuation for international corporate Green Bonds.","PeriodicalId":35412,"journal":{"name":"International Journal of Globalisation and Small Business","volume":"9 1","pages":"61-69"},"PeriodicalIF":0.0000,"publicationDate":"2017-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"14","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Globalisation and Small Business","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/IJGSB.2017.10005758","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
引用次数: 14
Abstract
Recently, there has been increasing global interest and concerns towards sustainable and environmental friendly development among firms and investors. In conjunction to this rising demand, Green Bond market was introduced. In providing general overview on how Green Bond is perceived by shareholders, this study attempts to identify the shareholders' wealth reactions towards Green Bond announcements using multi-country samples. Specifically, we find that shareholders generally react positively a day after the Green Bond announcements were made by issuers. Overall, this study would be useful for future researchers who plan to explore the potential of using multi-country event study methodology and to add more evidence on existing literatures in relation to credit risk valuation for international corporate Green Bonds.
期刊介绍：
The goal of the IJGSB is to explore the opportunities and threats of globalisation for small businesses as well as small businesses" strategic options in an increasingly global world. Dramatic changes in contemporary society and the economy have impacts on small businesses. The changing environment negatively influences the development and survival of smaller organisations in some areas and creates new opportunities for small businesses in others. Small firms" managers increasingly have to cope with global as well as local competitive dimensions. Research in this broad field thus is highly relevant.
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