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Item Green finance sources in Iberian listed firms: A socially responsible investment approachAutores: Leitao, Joao; Ferreira, Joaquim; Santibáñez González, ErnestoClimate change and implementation of the European Green Deal have raised the demand for ecologically friendly financial products and green finance, particularly fixed-income instruments such as green bonds. Given the scarcity of research on the simultaneous effects of market and accounting-based characteristics when combined with green business innovation ability, the purpose of this study is to determine whether market-based and firm accounting variables, as well as environmental technological innovation, play a role in the decision to issue green bonds. Four Limited Dependent Variable models are used, and the results show that market size and market liquidity are the most important predictors of green bond issuance, with proportionate positive and negative effects. Green bond issuance is also impacted by the size factor and environmental technological innovation. Because assets and capitalization are used as collateral when issuing green debt, the current empirical findings demonstrate that size is an essential component in market accounting features other than green bonds, which portray themselves as a hedge market to stock market liquidity. Environmental technological innovation drives green bond issuance because it acts as a market signalling mechanism for a socially responsible company strategy, providing critical information to decision-makers, managers, and investors.Item Conectividad entre la volatilidad del mercado bonos verdes y no verdes con los mercados internacionalesAutores: Gálvez Gamboa, Francisco; Muñoz Henríquez, Erik Mauricio; Dávila, Elmer SánchezThis research paper analyzes the spillover effects of volatility between the U. S. green and non -green bond markets with international market volatility between 2018 and 2023. The empirical work used time and frequency domain methodology to analyze the connectivity in the short, medium, and long term. The results demonstrate that both green and non -green bond markets are recipients of volatility, although green bonds receive volatility to a lesser extent than traditional bonds. Despite this, traditional bonds become recipients of volatility during periods such as the COVID-19 pandemic, while green bonds experience volatility reception during the RussiaUkraine conflict period.
