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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | An empirical analysis of the pricing of green bonds |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 100 |
| Date | 2021 |
| Abstract Text | The underlying study investigates the nature of the evolving green bond market, which recently reached one trillion US-Dollar in cumulative issuance and hence grew into a substantial category of the global bond market. Differences in green and conventional bond yields in both the primary- and secondary market are analyzed and classified applying different methodologies. The results suggest a small posi-tive average green bond yield premium in the primary market of +21.09bps and of +1.80bps in the most recent secondary market period. The yield premium narrowed noticeably over the sample period with AAA-rated green bonds exhibiting the tightest yield spread. |
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