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Erschienen in:
An Overview of Green Finance Kapitel lesen Erstes Kapitel lesen

2019 | OriginalPaper | Buchkapitel

5. Financial Performances of Green Securities

verfasst von : Dirk Schiereck, Gunnar Friede, Alexander Bassen

Erschienen in: The Rise of Green Finance in Europe

Verlag: Springer International Publishing

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Abstract

Empirical research in financial markets has been interested in the relationship between the financial performance of an exchange-listed company and its behavior as corporate citizen for a long time. Today, this debate concentrates in particular on the financial performance of sustainable investment projects. In such a context, this chapter analyzes the state of the literature on the performance of the fast-growing segment of green bonds as well as gives a general overview on the relationship between environmental, social, and governance (ESG) performances and financial performances.

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Vorheriges Kapitel Sustainable Finance Management
Nächstes Kapitel Institutional Initiatives to Foster Green Finance at EU Level
Fußnoten
1
Mediators are those variables that explain the underlying mechanisms and addresses how, or by what means, an independent variable is able to influence a dependent variable. Whereas moderator variables specify when certain effects will hold and affect the direction and/or strength of the relation between variables (Baron and Kenny 1986).
 
2
Cooperative behavior, even under individual competition, was shown to maximize the collective welfare in the classical prisoners’ game (Axelrod and Hamilton 1981; Nowak and Sigmund 1993). This is more valid for repeated games, making cooperative behavior the most reasonable option for long-term human interaction (Hofbauer and Sigmund 1998). As Nowak (2006) points out, cooperation therefore is and has been the default option not only in cells, social insects, but also in human society. The empirical results suggest this to be potentially valid also for stakeholder-oriented investments.
 
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Metadaten
Titel
Financial Performances of Green Securities
verfasst von
Dirk Schiereck
Gunnar Friede
Alexander Bassen
Copyright-Jahr
2019
Verlag
Springer International Publishing
Buch
The Rise of Green Finance in Europe

Print ISBN: 978-3-030-22509-4

Electronic ISBN: 978-3-030-22510-0

Copyright-Jahr: 2019

DOI
https://doi.org/10.1007/978-3-030-22510-0_5