绿色债券和黄金:一种新的金融环境关系
Athanasios Tsagkanos1, Emilios Galariotis2, Fotios Pasiouras3
1Department of Business Administration, University of Patras, University Campus-Rio, P.O. Box 1391, Patras, 26504, Greece.
Journal of environmental management
|March 11, 2025
概括
企业绿色债券现在显示出与黄金价格的短期不对称关系,特别是在流行病后. 这种不断变化的联系影响着可持续经济的投资战略和气候政策.
科学领域:
- 经济学 经济学 经济学
- 金融 金融 金融 金融 金融
- 环境研究 环境研究
背景情况:
- 绿色债券对于低碳经济转型至关重要.
- 黄金在能源经济学中是一个重要的焦点.
- 公司绿色债券与黄金之间的关系是研究不足的.
研究的目的:
- 调查公司绿色债券与黄金之间的关系.
- 为了弥补现有文献的差距.
- 分析短期和长期动态,包括不对称性和波动性.
主要方法:
- 利用一种方法来捕捉不对称性和结构波动.
- 对短期和长期关系进行了测试.
- 考虑了非静态回归器.
主要成果:
- 在近期,企业绿色债券与黄金价格之间发现了显著的短期不对称关系.
- 企业绿色债券的变化似乎会随着时间的推移影响黄金价格.
- 随着COVID-19的流行,控制变量对这种关系的影响发生了变化.
结论:
- 绿色债券和黄金之间不断变化的关系对寻求可持续投资组合和风险调整回报的投资者产生影响.
- 调查结果为政策制定者提供了关于减缓气候变化和可持续经济转型战略的信息.
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