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Article Dans Une Revue Journal of Innovation Economics & Management Année : 2021

Institutional Investors and Public Authority Ownership Impact on Green Bonds Issue: Evidence from France

Résumé

Green bonds are one of the most significant financial innovations to address the impacts of climate change and to help companies and governments to finance their ecological transition. The green bond market has been growing rapidly worldwide since its debut in 2007. In this paper, we present the first empirical study on the effects of ownership structure on green bond issuance by firms in France from 2013 to 2019. After compiling a comprehensive green bond dataset, we used legitimacy, stakeholders, and slack resources theories to investigate institutional investors and public authority ownership impact on green bond issuance. Our results confirm the heterogeneity of institutional investors and highlight a positive relation between insurance company and public authority ownership and green bond issuance.

Dates et versions

hal-03798900 , version 1 (05-10-2022)

Identifiants

Citer

Houssein Ballouk, Salma Mefteh-Wali, Ghada Tabbah, Sami Ben Jabeur. Institutional Investors and Public Authority Ownership Impact on Green Bonds Issue: Evidence from France. Journal of Innovation Economics & Management, 2021, Prépublication, pp.I130-23. ⟨10.3917/jie.pr1.0130⟩. ⟨hal-03798900⟩
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