ESG rating and short selling in the corporate bond market

被引：2

作者：

Li, Ying ^{[1
]}

Guo, Xu ^{[2
]}

Huang, Wei ^{[3
]}

Ma, Xiaomeng ^{[2
]}

机构：

[1] Hunan Univ, Ctr Econ Finance & Management Studies, Changsha, Hunan Province, Peoples R China

[2] Shenzhen Univ, Coll Econ, Shenzhen, Guangdong Provi, Peoples R China

[3] Univ Hawaii Manoa, Shidler Coll Business, Honolulu, HI USA

来源：

FINANCE RESEARCH LETTERS | 2024年 / 61卷

关键词：

ESG; Short selling; Corporate bond; SOCIAL-RESPONSIBILITY;

D O I：

10.1016/j.frl.2024.104998

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper explores the effect of ESG ratings on corporate bond short interest. Using corporate bond data from 2006 to 2022, we show that higher issuers' ESG scores are associated with lower bond short interest. Further examination reveals that changes in ESG scores can predict future changes in bond ratings. Overall, our findings suggest that bond short sellers consider issuers' ESG scores as valuable indicators in making investment decisions.

引用

页数：6

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