Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/238445 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
ADBI Working Paper Series No. 1088
Verlag: 
Asian Development Bank Institute (ADBI), Tokyo
Zusammenfassung: 
This paper aims to examine the effect of Environmental, Social and Governance (ESG) performance on sovereign funding costs, with a focus on emerging countries, especially in Asia. We find that better ESG performance is associated with lower default risk, and therefore lower funding costs. We also discover that countries with better ESG performance tend to have higher credit ratings, an important benchmark of sovereign funding costs. Regarding the effects of each component of ESG, we note that the social factor is significant among Asian countries, while governance is significant among Organisation for Economic Co-operation and Development countries.
Schlagwörter: 
ESG performance
sovereign funding cost
credit rating
JEL: 
G11
F34
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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