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Financing Advantage of Green Corporate Asset-Backed Securities and its Impact Factors: Evidence in China

Authors :
Ping Wei
Yunfeng Zhao
Yiming Yue
Source :
Frontiers in Energy Research, Vol 9 (2021)
Publication Year :
2021
Publisher :
Frontiers Media SA, 2021.

Abstract

As an innovative green financial tool, green corporate asset-backed securities can effectively solve the problems of narrow financing channels and maturity mismatches for green projects, which can help achieve green and low-carbon development, carbon peaking, and carbon neutrality goals. In this paper, we examine the financing cost advantages of green corporate asset-backed securities and the related impact factors through a combination of empirical and case studies. Empirical research based on the propensity score matching method (PSM) shows that China’s green corporate asset-backed securities issuance rates are 36.97°bps lower than traditional corporate asset-backed securities on average. Credit rating, issuance scale, issuance interest rate, issuance period, and green factors have become the main impact factors of green corporate asset-backed securities financing advantages.

Details

ISSN :
2296598X
Volume :
9
Database :
OpenAIRE
Journal :
Frontiers in Energy Research
Accession number :
edsair.doi.dedup.....07a102c44de71adb7dd87357820ece0c