How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis

This study examines how green bonds and environmental, social and governance (ESG) stock market returns have reacted to the COVID-19 crisis in the US. Unlike the Standard and Poor's (S&P) 500 index, the response of green bonds and ESG markets to pandemic progress is nonlinear: A low (large)...

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Autores principales: Perote, Javier, Vicente-Lorente, José D., Zuñiga-Vicente, Jose Angel
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Author(s). Published by Elsevier Inc. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9829434/
https://www.ncbi.nlm.nih.gov/pubmed/36643777
http://dx.doi.org/10.1016/j.frl.2023.103638
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author Perote, Javier
Vicente-Lorente, José D.
Zuñiga-Vicente, Jose Angel
author_facet Perote, Javier
Vicente-Lorente, José D.
Zuñiga-Vicente, Jose Angel
author_sort Perote, Javier
collection PubMed
description This study examines how green bonds and environmental, social and governance (ESG) stock market returns have reacted to the COVID-19 crisis in the US. Unlike the Standard and Poor's (S&P) 500 index, the response of green bonds and ESG markets to pandemic progress is nonlinear: A low (large) level of confirmed new cases of COVID-19 has a positive (negative) impact. Furthermore, the implemented containment policies (stringency measures and vaccination campaigns) are positively valued, but their simultaneous use is perceived by investors as a bad signal. Overall, our findings question the resilience of investments in green bonds and ESG markets.
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spelling pubmed-98294342023-01-10 How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis Perote, Javier Vicente-Lorente, José D. Zuñiga-Vicente, Jose Angel Financ Res Lett Article This study examines how green bonds and environmental, social and governance (ESG) stock market returns have reacted to the COVID-19 crisis in the US. Unlike the Standard and Poor's (S&P) 500 index, the response of green bonds and ESG markets to pandemic progress is nonlinear: A low (large) level of confirmed new cases of COVID-19 has a positive (negative) impact. Furthermore, the implemented containment policies (stringency measures and vaccination campaigns) are positively valued, but their simultaneous use is perceived by investors as a bad signal. Overall, our findings question the resilience of investments in green bonds and ESG markets. The Author(s). Published by Elsevier Inc. 2023-05 2023-01-10 /pmc/articles/PMC9829434/ /pubmed/36643777 http://dx.doi.org/10.1016/j.frl.2023.103638 Text en © 2023 The Author(s) Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Perote, Javier
Vicente-Lorente, José D.
Zuñiga-Vicente, Jose Angel
How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title_full How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title_fullStr How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title_full_unstemmed How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title_short How reactive is investment in US green bonds and ESG-eligible stocks in times of crisis? Exploring the COVID-19 crisis
title_sort how reactive is investment in us green bonds and esg-eligible stocks in times of crisis? exploring the covid-19 crisis
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9829434/
https://www.ncbi.nlm.nih.gov/pubmed/36643777
http://dx.doi.org/10.1016/j.frl.2023.103638
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