Green Finance and Corporate Governance

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: 30 June 2025 | Viewed by 880

Special Issue Editor


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Guest Editor
School of Economics, Finance and Marketing, RMIT University, Melbourne 2000, Australia
Interests: climate change; corporate governance; sustainability

Special Issue Information

Dear Colleagues,

The Special Issue on "Green Finance and Corporate Governance" aims to explore the intersection of two critical areas: sustainable finance and corporate governance. Green finance, a rapidly evolving field, focuses on investing in environmentally sustainable projects and businesses with the aim of mitigating climate change and promoting environmental stewardship. Corporate governance, on the other hand, deals with the systems and processes by which corporations are directed and controlled, encompassing issues such as accountability, transparency, and the rights of shareholders.

This Special Issue seeks to examine how corporate governance practices influence and are influenced by the adoption of green finance principles within organizations. It delves into the mechanisms through which companies integrate environmental considerations into their decision-making processes, including the role of boards of directors, executive compensation structures, and shareholder engagement strategies.

Furthermore, the scope of this Special Issue encompasses empirical research, theoretical frameworks, case studies, and policy analyses that shed light on the relationship between green finance and corporate governance. By fostering interdisciplinary dialogue and collaboration, this Special Issue aims to contribute to both academic knowledge and practical insights that can guide policymakers, corporate leaders, investors, and other stakeholders in advancing sustainable finance agendas and enhancing corporate governance practices.

Dr. Muhammad Atif
Guest Editor

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Keywords

  • green finance
  • corporate governance
  • climate change
  • corporate board
  • sustainability

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Published Papers (1 paper)

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Research

23 pages, 380 KiB  
Article
Green Bond Yield Determinants in Indonesia: The Moderating Role of Bond Ratings
by Mutia Wahyuningsih, Wiwik Utami, Augustina Kurniasih and Endri Endri
J. Risk Financial Manag. 2025, 18(4), 210; https://doi.org/10.3390/jrfm18040210 - 13 Apr 2025
Viewed by 508
Abstract
This study investigates the relationship between bond-specific factors, macroeconomic variables, and green bond (GB) yields issued in the Indonesian bond market. The study sample includes 468 GBs issued by 30 issuers from both corporate and government entities from 2018 to 2023. This research [...] Read more.
This study investigates the relationship between bond-specific factors, macroeconomic variables, and green bond (GB) yields issued in the Indonesian bond market. The study sample includes 468 GBs issued by 30 issuers from both corporate and government entities from 2018 to 2023. This research method uses panel regression techniques with the random effects models to test hypotheses on two estimation model specifications. The study results reveal that interest, inflation, and exchange rates are significantly and positively related to GB yields. Bond-specific factors have different impacts, where coupons and maturity have a positive relationship with GB yields, while bond issuers have an adverse effect. Bond rating and issuance size as specific factors are shown to have no impact on GB yields. In the model with the moderating role of rating, the study’s results show that coupons still directly impact GB yields positively, while the influence of maturity is negative. The interaction of maturity and rating positively impacts GB yield. Different findings suggest that interactions with coupons weaken the impact of ratings on GB yields. The results of this study contribute to the financial literature on the determinants of the GB market and the role of bond ratings as a moderator. The study also provides new insights into Indonesia’s GB market, which includes developing countries. The findings can also help companies, investors, regulators, and researchers better understand the GB market. Full article
(This article belongs to the Special Issue Green Finance and Corporate Governance)
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