Syndicated green lending and lead bank performance

IF 9.4 3区 管理学 Q1 BUSINESS, FINANCE Journal of International Financial Management & Accounting Pub Date : 2022-01-18 DOI:10.1111/jifm.12151
Belinda L. Del Gaudio, Daniele Previtali, Gabriele Sampagnaro, Vincenzo Verdoliva, Samuel Vigne
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Abstract

This study investigates the effect of the green lending propensity of banks on profitability and risk. Using a sample of 217 green facilities financing syndication worldwide, we create a variable of green lending approach measuring the weight of green loans on total credit exposure of the lead bank and investigate the effect of the green propensity so as the structure of syndication on bank accounting performance. We find two relevant findings. First, a higher propensity to green lending is associated with lower profitability, more moderate default risk, and lower credit risk than banks with a less green investment approach. Second, more collateralization and duration of green lending increase bank performance, while the larger syndicate size reduces profitability and risk. Overall, our study suggests that banks are prone to invest in green projects, but the risks may offset profitability requiring public support to empower the role of the banking sector in boosting ecological transition.

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银团绿色贷款和牵头银行业绩
本研究考察了银行绿色贷款倾向对盈利能力和风险的影响。使用全球217家绿色贷款融资银团的样本,我们创建了一个衡量绿色贷款对牵头银行总信贷敞口的权重的绿色贷款方法变量,并研究了绿色倾向以及银团结构对银行会计业绩的影响。我们发现了两个相关的发现。首先,与绿色投资方式较差的银行相比,绿色贷款倾向越高,盈利能力越低,违约风险越中等,信用风险越低。其次,更多的绿色贷款抵押和期限会提高银行业绩,而更大的银团规模会降低盈利能力和风险。总的来说,我们的研究表明,银行倾向于投资绿色项目,但风险可能会抵消需要公众支持的盈利能力,以增强银行业在促进生态转型中的作用。
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来源期刊
CiteScore
9.10
自引率
2.00%
发文量
23
期刊介绍: The Journal of International Financial Management & Accounting publishes original research dealing with international aspects of financial management and reporting, banking and financial services, auditing and taxation. Providing a forum for the interaction of ideas from both academics and practitioners, the JIFMA keeps you up-to-date with new developments and emerging trends.
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