Where's the Greenium?
Abstract
This study investigates whether investors are willing to trade off wealth for societal benefits. We take advantage of unique institutional features of the municipal securities market to provide insight into this question. Since 2013, over $23 billion green bonds have been issued to fund eco-friendly projects. Comparing green securities to nearly identical securities issued for non-green purposes by the same issuers on the same day, we observe...
Paper Details
Title
Where's the Greenium?
Published Date
Jan 1, 2019
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