Sovereign bond yield spreads and sustainability : An empirical analysis of OECD countries
Journal of Banking & Finance(2019)
摘要
•We study how sustainability affects sovereign bond spreads.•We find that countries with good sustainability performance tend to have less default risk and lower bond spreads.•In particular, governance and social factors appear to have an impact, but environmental factors do not.
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关键词
ESG performance,Sovereign bonds,Sustainability,Yield spreads
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