Ahn, Jung-Hyun; Attaoui, Sami; Fouquau, Julien - 2023
The paper investigates CDS spreads reaction to the type of issued bonds, green or conventional. We use an event study … conventional bonds issued prior to the first green bonds. Second, we analyze the case of multiple issuances. The firm's credibility …, exists also for conventional bonds that are issued after the third green issuance. Thus, the reputation effect leads to a …