Greenwashing and credit spread: Evidence from the Chinese green bond market
Finance Research Letters(2022)
Abstract
•The greenwashing risk exists in the Chinese green bond market, leading to higher credit spread.•Voluntary third-party certification helps reduce greenwashing concern.•Both trading venue and ESG performance lead to differential effects of third-party certification on green bond credit spread.
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Key words
Greenwashing,Credit spread,Green bond,ESG,Fixed income securities
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