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Green bond underwriting, financial openness, and profitability of commercial banks

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  • Zhou, Tao
  • Chen, Gaohui
  • Su, Yuxin
  • Yang, Tingting
  • Ding, Jie

Abstract

Using data from Chinese listed commercial banks from 2012 to 2022 and a fixed-effects model, this study examines the relationship between green bond underwriting, financial openness, and commercial bank profitability and analyzes whether bank size plays a moderating role in this relationship. Results reveal that green bond underwriting harms commercial banks' profitability; financial openness improves their profitability; and bank size plays a crucial moderating role in the relationship between green bond underwriting and bank profitability, as well as between financial openness and bank profitability.

Suggested Citation

  • Zhou, Tao & Chen, Gaohui & Su, Yuxin & Yang, Tingting & Ding, Jie, 2025. "Green bond underwriting, financial openness, and profitability of commercial banks," International Review of Financial Analysis, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:finana:v:99:y:2025:i:c:s1057521924008329
    DOI: 10.1016/j.irfa.2024.103900
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