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| Title: | 金融機構發行綠色債券對機構本身及借款廠商的影響
Impacts of Green Bonds Issued by Financial Institutions |
| Authors: | 侯善元
Hou, Shan-Yuan |
| Contributors: | 何靜嫺
Ho, Shirley J.
侯善元
Hou, Shan-Yuan |
| Keywords: | 綠色債券
銀行
環境永續
ESG
面板資料模型
Green Bond
Banks
Sustainable environment
ESG
Panel Data Models |
| Date: | 2024 |
| Issue Date: | 2024-08-05 13:37:18 (UTC+8) |
| Abstract: | 隨著全球對於環境保護的重視，政府除了制定政策要求企業降低排放量之外，也可以透過金融機構或是行業的龍頭企業來帶動不同環境的改善。金融機構發行綠色債券就是一個例子。過去的文獻大多在探討綠色債券與普通債券的差別。我們的研究主要聚焦於金融機構發行綠色債券對於其本身在環境表現、財務績效以及股東衝突方面是否有影響。並且我們也分析銀行發行綠色債券，是否對與銀行有借貸關係的企業，在環境表現、財務績效以及股東衝突方面有影響。
根據我們的研究結果顯示，銀行發行綠色債券對於其本身在環境表現、財務績效以及股東衝突方面都有明顯的影響。尤其是在TESG分數上有顯著的正向影響。此外銀行發行綠色債券，對於有項銀行借貸的企業也有影響。尤其是在Social Score以及Governance Score上有顯著的正向影響。除了這些研究之外，我們也分析其他相關變數，來進一步了解綠色債券如何影響企業的長期可持續性與投資決策。
這些研究結果替政策制定者及投資者提供有力的數據支持。表明綠色金融工具不僅可以促進環境保護，還能改善市場的整體健康和公司治理。
With increasing global emphasis on environmental protection, governments are not only implementing policies requiring businesses to reduce emissions but are also using financial institutions and industry leaders to drive environmental improvements across various sectors. Past literature has primarily focused on the differences between green bonds and conventional bonds. Our main research centers on the impact of financial institutions issuing green bonds on their environmental performance, financial performance, and shareholder conflicts. Additionally, we analyzed whether banks issuing green bonds affect the environmental performance, financial performance, and shareholder conflicts of companies that have borrowing relationships with these banks.
Our findings show that the issuance of green bonds by banks significantly impacts their environmental performance, financial performance, and shareholder conflicts, particularly with a notable positive effect on TESG scores. Furthermore, banks issuing green bonds also affect companies that borrow from them, especially in terms of their Social Score and Governance Score. Beyond studying the impact of issuing green bonds on companies, we also utilized other relevant variables to further understand how green bonds affect the long-term sustainability and investment decisions of companies.
These results provide robust data support for policymakers and investors, demonstrating that green financial instruments can not only promote environmental protection but also improve the overall health of financial markets and corporate governance. As the green bond market develops, we can anticipate its greater impact in driving companies towards green transformation. |
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| Description: | 碩士
國立政治大學
經濟學系
111258024 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0111258024 |
| Data Type: | thesis |
| Appears in Collections: | [經濟學系] 學位論文
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