How does investor attention influence the green bond market?

被引：126
|
作者：
Linh Pham [1 ]
Toan Luu Duc Huynh [2 ,3 ]
机构：
[1] Univ Cent Oklahoma, Sch Business, Dept Econ, 100 N Univ Dr,Box 103, Edmond, OK 73034 USA
[2] WHU Otto Beishe Sch Management, Chair Behav Finance, Vallendar, Germany
[3] Univ Econ Ho Chi Minh City, Sch Banking, Ho Chi Minh City, Vietnam
来源：
FINANCE RESEARCH LETTERS | 2020年 / 35卷
关键词：
Green bond; Investor attention; Sustainable finance; Climate finance;
D O I：
10.1016/j.frl.2020.101533
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper is the first empirical study of the link between investor attention and the green bond market performance. Using daily data of investor attention and green bond indexes, we find that investor attention can influence green bond returns and volatility, however, this relationship is time varying. Our results are relevant for investors as they shed light into the newly developed and fast growing green bond market. Our findings also emphasize the importance of appropriate information and attention for directing financial flows towards sustainable investment.
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页数：7
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