Using data on institutional investors' bond holdings, we investigate the resilience of green bonds to the COVID-19 shock in a difference-in-differences framework. We find that during the COVID outbreak green bonds experience lower sales, on average, while in normal times no significant...

While green bonds are becoming increasingly popular in the corporate finance practice, little is known about their implications and effectiveness in terms of issuers' environmental engagement. Using matched bond-issuer data, we test whether green bond issues are associated to a reduction in...

We investigate profit shifting by the largest and systemically relevant European multinational banks using new data made available through country-by-country reporting for the financial years 2014-2016. We capture tax incentives for income shifting using a multilateral tax differential between...

Using data on institutional investor holdings, we investigate the resilience of green bonds to the COVID-19 shock in a difference-in-differences framework. We find that, during the pandemic outbreak, green bonds experienced lower sales, on average, than equivalent conventional bonds, while no...

We examine the resilience of green bonds to the COVID-19 shock through the lens of institutional investors’ holdings. We show that, during the pandemic outbreak, green bonds experienced lower net sales, on average, than equivalent conventional bonds, while no significant differences emerge...