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The Pricing and Ownership of US Green Bonds

Citations

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Cited by:

  1. Fricke, Daniel & Meinerding, Christoph, 2025. "Who pays the greenium and why? A decomposition," Journal of International Money and Finance, Elsevier, vol. 157(C).
  2. Lucía Galicia-Sanguino & Rubén Lago-Balsalobre, 2025. "Is the ESG Score Part of the Set of Information Available to Investors? A Conditional Version of the Green Capital Asset Pricing Model," IJFS, MDPI, vol. 13(2), pages 1-20, May.
  3. Alam, Zinat & Hossain, Miran & Wang, Lingling, 2025. "The economic and cultural motives of green price premium," The British Accounting Review, Elsevier, vol. 57(5).
  4. Horn, Matthias & Oehler, Andreas & Dabbous, Amal & Croutzet, Alexandre, 2025. "The relation between environmental awareness and stock returns," International Review of Economics & Finance, Elsevier, vol. 103(C).
  5. Bardos, Katsiaryna Salavei & Mishra, Dev R. & Somé, Hyacinthe Y., 2025. "Firm-level climate sentiments, climate politics and implied cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 94(C).
  6. Feldhütter, Peter & Halskov, Kristoffer & Krebbers, Arthur, 2024. "Pricing of sustainability-linked bonds," Journal of Financial Economics, Elsevier, vol. 162(C).
  7. Zaghini, Andrea, 2024. "Unconventional green," Journal of Corporate Finance, Elsevier, vol. 85(C).
  8. Altavilla, Carlo & Boucinha, Miguel & Pagano, Marco & Polo, Andrea, 2023. "Climate Risk, Bank Lending and Monetary Policy," CEPR Discussion Papers 18541, Centre for Economic Policy Research.
  9. Sheheryar Banuri & Christa Brunnschweiler & Deanna Karapetyan, 2026. "The Benefits of Intentions: Deliberate Harm Avoidance and Consumer Responses," Working Paper Series 20526, Department of Economics, Norwegian University of Science and Technology.
  10. Wu, Ruirui, 2026. "How do climate risk and geopolitical risk impact shipping markets?," Research in International Business and Finance, Elsevier, vol. 81(C).
  11. Alessandro Moro & Andrea Zaghini, 2025. "The green sin: how exchange rate volatility and financial openness affect green premia," Review of Finance, European Finance Association, vol. 29(4), pages 1189-1217.
  12. Chaoxi Liang & Xiaoming Ma & Xiawei Liao, 2025. "Unveiling Investor Motivation and Trust in Impact Investing: Evidence from Global Green Bond Issuances," Journal of Business Ethics, Springer, vol. 200(2), pages 445-468, August.
  13. Martha Angélica León Alvarado & Eric Osio Cerón & Anahi Montserrat Revilla Antonio, 2024. "Análisis del impacto de las controversias por factores ASG en la valuación de acciones en el mercado mexicano," The Anahuac Journal, Business and Economics School. Anahuac University (Mexico)., vol. 24(1), pages 38-63, June.
  14. Mahmoudian, Fereshteh & Nazari, Jamal A. & Poursoleyman, Ehsan, 2025. "Real effects of media climate change concerns," Global Finance Journal, Elsevier, vol. 64(C).
  15. Fornari, Fabio & Pianeselli, Daniele & Zaghini, Andrea, 2026. "Environmental score and bond pricing: It better be good, it better be green," Journal of International Money and Finance, Elsevier, vol. 161(C).
  16. Beatrice Bertelli & Gianna Boero & Costanza Torricelli, 2025. "The market price of greenness: a factor pricing approach for green and conventional bonds," Annals of Finance, Springer, vol. 21(3), pages 317-350, September.
  17. Yu, Qing & Hui, Eddie Chi-Man & Shen, Jianfu, 2024. "The real impacts of third-party certification on green bond issuances: Evidence from the Chinese green bond market," Journal of Corporate Finance, Elsevier, vol. 89(C).
  18. Chunxiao Lu & Linxiang Ma & Yuyang Zhang, 2025. "Heterogeneous Institutional Investor Response to Firm Environmental Regulatory Risk," Working Papers in Economics 25/14, University of Canterbury, Department of Economics and Finance.
  19. Agoraki, Maria-Eleni K. & Aslanidis, Nektarios & Kouretas, Georgios P., 2023. "How has COVID-19 affected the performance of green investment funds?," Journal of International Money and Finance, Elsevier, vol. 131(C).
  20. Alex, Fabian, 2025. "Project risk neutrality in the context of asymmetric information," The North American Journal of Economics and Finance, Elsevier, vol. 77(C).
  21. Guesmi, Khaled & Makrychoriti, Panagiota & Pyrgiotakis, Emmanouil G., 2025. "Climate change exposure and green bonds issuance," Journal of International Money and Finance, Elsevier, vol. 152(C).
  22. Dong, Hanmin & Zhang, Lin & Zheng, Huanhuan, 2024. "Green bonds: Fueling green innovation or just a fad?," Energy Economics, Elsevier, vol. 135(C).
  23. Hu, Xin & Zhu, Bo & Lin, Renda & Li, Xiru & Zeng, Lidan & Zhou, Sitong, 2024. "How does greenness translate into greenium? Evidence from China's green bonds," Energy Economics, Elsevier, vol. 133(C).
  24. Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
  25. Andrew W. Lo & Lan Wu & Ruixun Zhang & Chaoyi Zhao, 2024. "Optimal Impact Portfolios with General Dependence and Marginals," Operations Research, INFORMS, vol. 72(5), pages 1775-1789, September.
  26. Alex, Fabian, 2026. "On the non-neutrality of socially responsible investing in the presence of a greenium," The North American Journal of Economics and Finance, Elsevier, vol. 82(C).
  27. Berdiev, Urol, 2025. "What shapes greenium in bond markets? Evidence from Japan," Economic Modelling, Elsevier, vol. 151(C).
  28. Gaies, Brahim, 2025. "Risky finance, riskier climate: when financial instability meets climate risks on the bridge of sustainability uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
  29. Ioannis Ioannou & George Serafeim, 2023. "What drives corporate social performance? The role of nation-level institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(1), pages 14-23, February.
  30. Buklemishev, O. & Danilov, Yu., 2025. "Is profit important in the era of ESG?," Journal of the New Economic Association, New Economic Association, vol. 66(1), pages 177-194.
  31. Allahdadi, Mohammad R. & Fretheim, Torun & Vindedal, Kjetil, 2024. "Value of climate change news: A textual analysis," Global Finance Journal, Elsevier, vol. 63(C).
  32. Bi, Shenghao & Appolloni, Andrea & Zhang, Wanying & Yan, Zhenjun & Du, Jiang, 2026. "Impact of green bond issuance on energy intensity: Evidence from new energy enterprises," Research in International Business and Finance, Elsevier, vol. 83(C).
  33. Bongaerts, Dion & Schoenmaker, Dirk, 2024. "Liquidity and clientele effects in green debt markets," Journal of Corporate Finance, Elsevier, vol. 86(C).
  34. Al Mamun, Md & Boubaker, Sabri & Hassan, Md Zakir & Manita, Riadh, 2025. "Towards net zero: Implications of environmental regulations on green finance," Finance Research Letters, Elsevier, vol. 79(C).
  35. Isik Akin & Meryem Akin, 2025. "Promoting sustainable practices through green investments in the United Kingdom real estate industry," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(1), pages 1526-1544, February.
  36. Di Tommaso, Caterina & Perdichizzi, Salvatore & Vigne, Samuel & Zaghini, Andrea, 2025. "Is the Government always greener?," Energy Economics, Elsevier, vol. 152(C).
  37. Moro, Alessandro & Zaghini, Andrea, 2025. "Cui prodest? The heterogeneous impact of green bonds on companies' ESG score," CFS Working Paper Series 733, Center for Financial Studies (CFS).
  38. Umar, Zaghum & Iqbal, Najaf & Teplova, Tamara & Tan, Duojiao, 2024. "Dynamic impact of the US yield curve on green bonds: Navigating through recent crises," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
  39. Zhou, Yuwen & Tian, Lixin & Yang, Xiaoguang, 2023. "Schumpeterian endogenous growth model under green innovation and its enculturation effect," Energy Economics, Elsevier, vol. 127(PB).
  40. Dutordoir, Marie & Li, Shuyu & Neto, João Quariguasi Frota, 2025. "When green is no longer a win - new evidence on the shareholder value effects of green bond offerings11The authors would like to thank Konstantinos Bozos, Samit Gupta, Antony Potter, Hai-Anh Tran, and participants at the 2023 British Academy of Manag," International Review of Financial Analysis, Elsevier, vol. 107(C).
  41. Ballester, Laura & González-Urteaga, Ana & Shen, Long, 2024. "Green bond issuance and credit risk: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 94(C).
  42. Wang, Kexin & Ding, Rui & Xiao, Wenqian & Liang, Juan & Hong, Yuxuan & Peng, Lina & Zou, Jian & Jiang, Shuyue, 2025. "A multi-layer network perspective on green finance and clean energy industry synergistic development and mutual reinforcement: Mechanism analysis, correlation effect and enhancement path," Renewable Energy, Elsevier, vol. 240(C).
  43. Li, Qianqian & Watts, Edward M. & Zhu, Christina, 2024. "Retail investors and ESG news," Journal of Accounting and Economics, Elsevier, vol. 78(2).
  44. Matteo Gasparini & Peter Tufano, 2023. "The Evolving Academic Field of Climate Finance," Harvard Business School Working Papers 23-057, Harvard Business School.
  45. Silva, Florinda & Ferreira, André & Cortez, Maria Céu, 2024. "The performance of green bond portfolios under climate uncertainty: A comparative analysis with conventional and black bond portfolios," Research in International Business and Finance, Elsevier, vol. 70(PA).
  46. Agliardi, Elettra & Alexopoulos, Thomas & Karvelas, Kleanthis, 2023. "The environmental pillar of ESG and financial performance: A portfolio analysis," Energy Economics, Elsevier, vol. 120(C).
  47. Fornari, Fabio & Pianeselli, Daniele & Zaghini, Andrea, 2024. "It better be good, it better be green," CFS Working Paper Series 723, Center for Financial Studies (CFS).
  48. Qian, Binsheng & Poshakwale, Sunil & Tan, Yusen, 2024. "‘E’ of ESG and firm performance: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PB).
  49. Sudha Mathew & Sheeja Sivaprasad, 2024. "An empirical analysis of corporate sustainability bonds," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3299-3316, May.
  50. Caramichael, John & Rapp, Andreas C., 2024. "The green corporate bond issuance premium," Journal of Banking & Finance, Elsevier, vol. 162(C).
  51. Alessandro Moro, 2025. "Correction to: Optimal policies in a small open economy with an environmental externality and shallow foreign exchange markets," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 24(1), pages 51-51, January.
  52. Kanamura, Takashi, 2025. "Stochastic behavior of green bond premiums," International Review of Financial Analysis, Elsevier, vol. 97(C).
  53. Hale, Galina & Meisenbacher, Brigid & Nechio, Fernanda, 2024. "Industrial Composition of Syndicated Loans and Banks' Climate Commitments," CEPR Discussion Papers 19357, Centre for Economic Policy Research.
  54. Monnin, Pierre & Feyertag, Joe & Robins, Nick & Wollenweber, Alexander, 2024. "Aligning sovereign bond markets with the net zero transition: the role of central banks," LSE Research Online Documents on Economics 129233, London School of Economics and Political Science, LSE Library.
  55. Xiru Li & Bo Zhu & Yufei Zhang, 2024. "Greenium of green securitization: Does external certification matter?," PLOS ONE, Public Library of Science, vol. 19(8), pages 1-27, August.
  56. Broeders, Dirk & Dimitrov, Daniel & Verhoeven, Niek, 2025. "Climate-linked bonds," Working Paper Series 3011, European Central Bank.
  57. Martijn Boermans, 2023. "Preferred habitat investors in the green bond market," Working Papers 773, DNB.
  58. Heng Zhang & Binglin Gong, 2025. "Can Green Needs Always Promote Green Innovation? Moral Licensing in Corporate Environmental Responsibility," Journal of Business Ethics, Springer, vol. 201(1), pages 169-191, October.
  59. Sachdeva, Kunal & Silva, André F. & Slutzky, Pablo & Xu, Billy Y., 2025. "Defunding controversial industries: Can targeted credit rationing choke firms?," Journal of Financial Economics, Elsevier, vol. 172(C).
  60. Merli, Maxime & Petey, Joël & Roger, Tristan, 2025. "Climate concerns, salient events, and green preferences," Economics Letters, Elsevier, vol. 255(C).
  61. Onur Polat & Berna Doğan Başar & İbrahim Halil Ekşi, 2025. "Dynamic Interlinkages between the Twitter Uncertainty Index and the Green Bond Market: Evidence from the Covid-19 Pandemic and the Russian-Ukrainian Conflict," Computational Economics, Springer;Society for Computational Economics, vol. 65(5), pages 2873-2889, May.
  62. Roman Kräussl & Tobi Oladiran & Denitsa Stefanova, 2024. "A review on ESG investing: Investors’ expectations, beliefs and perceptions," Journal of Economic Surveys, Wiley Blackwell, vol. 38(2), pages 476-502, April.
  63. Li, Yenan & Yang, Zhengjie & Dong, Xiangyu, 2025. "Green bond and greenwashing: New insights from Chinese firms," Finance Research Letters, Elsevier, vol. 85(PA).
  64. Carlos Estevez‐Mendoza & Juan Infante, 2025. "Evolution and relevance of research on Environmental, Social, and Governance factors," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 1545-1566, March.
  65. Juan Cortina & Claudio Raddatz & Sergio Schmukler & Tomas Williams, 2025. "Green versus Conventional Corporate Debt: From Issuances to Emissions," Working Papers 2025-012, The George Washington University, The Center for Economic Research.
  66. Christnacht, Lukas & Mertzanis, Charilaos, 2025. "Foreign direct investment, technology transfer and the global issuance of green bonds," Energy Economics, Elsevier, vol. 143(C).
  67. Li, Jiapei & Chen, Chuangbin & Wu, Zhenrui, 2025. "Asymmetric credit risk pathways in china’s green bond market: A Conjunctural analysis using modified PFM and fsQCA," Finance Research Letters, Elsevier, vol. 83(C).
  68. Badía, Guillermo & Cortez, Maria Céu & Silva, Florinda, 2024. "Do investors benefit from investing in stocks of green bond issuers?," Economics Letters, Elsevier, vol. 242(C).
  69. Del Giudice, Alfonso & Rigamonti, Silvia & Signori, Andrea, 2025. "Climate change risk and green bond pricing," Journal of Empirical Finance, Elsevier, vol. 82(C).
  70. Mascia Bedendo & Giacomo Nocera & Linus Siming, 2023. "Greening the Financial Sector: Evidence from Bank Green Bonds," Journal of Business Ethics, Springer, vol. 188(2), pages 259-279, November.
  71. Kanamura, Takashi, 2025. "A quantitative model of sustainability risk in finance," Journal of Commodity Markets, Elsevier, vol. 37(C).
  72. Wei, Yu & Shi, Chunpei & Zhou, Chunyan & Wang, Qian & Liu, Yuntong & Wang, Yizhi, 2024. "Market volatilities vs oil shocks: Which dominate the relative performance of green bonds?," Energy Economics, Elsevier, vol. 136(C).
  73. Baldi, Francesco & Ferri, Giovanni, 2025. "Social bonds: Proceeds’ investment and social premium," Research in International Business and Finance, Elsevier, vol. 77(PA).
  74. M. Bedendo & G. Nocera & L. Siming, 2022. "Greening the Financial Sector: Evidence from Bank Green Bonds," Post-Print hal-04318899, HAL.
  75. Kim, Sehoon & Kumar, Nitish & Lee, Jongsub & Oh, Junho, 2025. "ESG lending," Journal of Financial Economics, Elsevier, vol. 173(C).
  76. Wang, Xiaoqing & Safi, Adnan & Ge, Fengning, 2025. "Towards carbon neutrality: Will artificial intelligence and green bond become catalysts?," Energy Economics, Elsevier, vol. 148(C).
  77. Zia, Hafiz Muhammad Yasir & Yang, Wanping & Masood, Abdullah & Ahmed, Afaf & Aldawsari, Salem Hamad, 2025. "Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 494-529.
  78. Green, Daniel & Vallee, Boris, 2025. "Measurement and effects of bank exit policies," Journal of Financial Economics, Elsevier, vol. 172(C).
  79. Ardianto Ardianto & Nadia Anridho & Suham Cahyono & Abu Hanifah Md. Noman Alam & Iman Harymawan, 2024. "The role of risk management committee on the relationship between corporate carbon emission disclosure and capital structure," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2127-2158, May.
  80. Serge Darolles & Gaëlle Le Fol & Yuyi He, 2023. "Who can better push firms to go "green"? A look at ESG effects on stock returns," Post-Print hal-04462749, HAL.
  81. Pengfei Ge & Yichao Liu & Chuxiong Tang & Rui Zhu, 2025. "Green bonds and corporate Environmental social and governance performance: Innovative approaches to identifying greenwashing in green bond markets," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(1), pages 1060-1078, January.
  82. Cristina ONEȚ, 2026. "Green Finance In The European Union And Romania: A Normative-Institutional Analysis Of The Eu Taxonomy And Its Implications For Emerging Economies," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 21(1), pages 1-19, April.
  83. Rébecca Cardot & Carole Bernard & Jamil Jaballah, 2026. "Green bonds & certification: is getting certified always optimal?," Annals of Operations Research, Springer, vol. 356(1), pages 601-628, January.
  84. Jorge M. Uribe, 2023. ""Fiscal crises and climate change"," IREA Working Papers 202303, University of Barcelona, Research Institute of Applied Economics, revised Feb 2023.
  85. Xiaolu Hu & Angel Zhong & Youdan Cao & Wenlan Wang, 2024. "The impact of air pollution on cost of debt: Evidence from corporate bond markets," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 3495-3533, December.
  86. Becker, Annette & Fatica, Serena & Rancan, Michela, 2025. "Not only green: Sustainability and debt capital markets," Journal of International Money and Finance, Elsevier, vol. 154(C).
  87. Li, Jingxin & Lan, Qiujun & Wang, Xiangjin & Ge, Linnan, 2025. "Oil price shocks and green bond spreads: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 178-190.
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