The rise of sustainable investing in fixed-income markets has led to a variety of special types of bonds. In addition to green bonds that are predominantly used to provide capital for the energy transition, recently also social, sustainability, and sustainability-linked bonds have appeared in...

Favorable tax treatment of coupon income, and unfavorable treatment of capital gains, lead municipal bonds to be issued with coupon rates substantially above market rates and an accompanying original issue premium. We present evidence that the size of the original issue premium is a response to...

Bonds represent an important source of funding for companies, governments, and multinational entities. Therefore, the analysis of their prices and yields is of long-term interest to academic research. This work deals with the break-even point in the behavior of bond prices, after which they no...

Purpose – The purpose of this paper the analyzing and standardizing of Sukuk utilization in non-major economies to avoid restrictions from local content rules, which are non-tariff barriers to trade. Design/Methodology/Approach – Due to Sharia (Islamic law) jargon and language barriers, it...

This paper for the first time analyzes the impact of the readability of risk disclosure in bond prospectuses on the credit risk premium in the Chinese corporate bond market. In the empirical analysis, the collected textual data including 5194 corporate bond prospectuses and structured data...

The purpose of this paper is to review the literature on inflation-adjusted bonds, swaps, and derivatives. The methodology for valuation and risk management of these securities is an application of the foreign currency extension of a standard HJM term structure model. The two “currencies” in...

At a 2019 retirement security conference in Brazil, one of the authors proposed that Brazil introduce a low-cost, low-risk, simple and liquid bond innovation: “SeLFIES”—Standard of Living indexed, Forward-starting, Income-only Securities. SeLFIES would serve as the relative safe asset for...

The popularity of the ESG investment necessitates enterprises to concentrate on sustainability values and governance capabilities. The burgeoning green bond market provides opportunities for a growing number of enterprises to achieve green transformations. Utilizing green bond issuance data from...

The study employs the wavelet coherence and the spillover index methodologies to investigate time-varying relationship between green sukuk and selected assets from the crypto-currency and commodity markets between October 2019, and March 2022. The results of wavelet coherence indicated weak...

I Sustainability-Linked Bonds (SLB) sono obbligazioni dotate di caratteristiche finanziarie e strutturali che variano a seconda del raggiungimento di obiettivi predefiniti, basati sulla performance di sostenibilità dell’emittente. A differenza dei titoli Green e dei titoli Social, la cui...