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Article

The Determinants of Green Bond Issuance in the European Union

Department of Accounting and Audit, Faculty of Economics and Business Administration, Babeş-Bolyai University, 400084 Cluj-Napoca, Romania
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Academic Editors: Tomas Kliestik, Maria Kovacova and Katarina Valaskova
J. Risk Financial Manag. 2021, 14(9), 446; https://doi.org/10.3390/jrfm14090446
Received: 26 August 2021 / Revised: 12 September 2021 / Accepted: 14 September 2021 / Published: 16 September 2021
Green bonds are a new financial tool that has developed rapidly in the context of climate change risks. Their proceeds are used to finance only environmentally friendly projects. This paper aims to examine the determinant factors of the green bonds issue in the context of the European Union countries. Using linear regression, we explore the impact of environmental, social, governance, and macroeconomic indicators on the level of green bond issues in the period 2014–2019. The results reveal that rating, ESG index; fiscal balance, inflation rate, and population have a significant impact and lead to a higher volume of green bond issuances. Our findings provide valuable insights into the development of the green bond market. View Full-Text
Keywords: green bonds; ESG; sovereign rating green bonds; ESG; sovereign rating
MDPI and ACS Style

Dan, A.; Tiron-Tudor, A. The Determinants of Green Bond Issuance in the European Union. J. Risk Financial Manag. 2021, 14, 446. https://doi.org/10.3390/jrfm14090446

AMA Style

Dan A, Tiron-Tudor A. The Determinants of Green Bond Issuance in the European Union. Journal of Risk and Financial Management. 2021; 14(9):446. https://doi.org/10.3390/jrfm14090446

Chicago/Turabian Style

Dan, Anamaria, and Adriana Tiron-Tudor. 2021. "The Determinants of Green Bond Issuance in the European Union" Journal of Risk and Financial Management 14, no. 9: 446. https://doi.org/10.3390/jrfm14090446

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