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Effectiveness Of Financing Specific Public Interest Purposes By New Bond Structures

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  • Branka Tuskan Sjaus

    (University of Zagreb)

Abstract

This paper analyses specific public interest purposes financing: environment protection and small- and medium- sized enterprises, by issuing new bond structures stimulating socially and environmentally responsible investments. Bonds issued by off-balance sheet securitisation and balance sheet covered bonds issuance techniques significantly contributed to mortgage financing development. However, structured financing application yields limited success and results, when dealing with some specific public interest purposes. The main research goal is to determine effectiveness of innovative bond structures, issued as a combination of the above mentioned techniques best practice, or issued as plain vanilla bonds but respecting more strict regulation and transparency of dedicated fund use. In the paper, green bonds and small- and medium- sized enterprises securities are analysed and compared. Their effectiveness is determined by comparative analysis of data on the representation and results achieved in financing of the chosen public interest purposes.

Suggested Citation

  • Branka Tuskan Sjaus, 2020. "Effectiveness Of Financing Specific Public Interest Purposes By New Bond Structures," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 29(1), pages 289-306, june.
    • Handle: RePEc:avo:emipdu:v:29:y:2020:i:1:p:289-306
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    More about this item

    Keywords

    securitisation; covered bonds; green bonds; SME securities; responsible financial investments;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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