The aim of this paper is to investigate the investors’ reaction environmental actions taken by companies such as issues “green bond”. We conduct an event study around announcement green bond issuances for all publicly traded in World period 2013-2019 (the largest literature on field). Using CARs, we stock price behavior 414 listed and demonstrated significant incre...

Based on the data of China’s green bond market, this paper selects companies that issue bonds in A-share listed from 2015 to 2021 and other industry as research objects explore impact mechanism issuance corporate value. Through empirical analysis, it is verified can enhance value issuing enterprises, further tests mediating effect institutional investors’ shareholding between

The Determinants of Liquidity in the Corporate Bond Markets: An Application of Latent Liquidity We present a new measure of liquidity known as “latent liquidity” and apply it to a unique corporate bond database to discern the characteristics of bonds that lead to higher liquidity. Unlike conventional measures of liquidity, such as trading volume and bid-ask spreads, our measure of liquidity doe...

During the recent credit crisis credit rating agencies (CRAs) became increasingly lax in their rating of structured products, yet increasingly stringent in their rating of corporate bonds. We examine a model in which a CRA operates in both the market for structured products and for corporate debt, and shares a common reputation across the two markets. We find that, as a CRA’s reputation becomes...