Green Networks and Green Bond Issuances
グリーンネットワークとグリーンボンド発行 (AI 翻訳)
Han Wang, Elaine Laing, Tanusree Jain
🤖 gxceed AI 要約
日本語
45経済圏を対象に、過去にグリーンボンドを発行した企業との取締役会ネットワーク（グリーンネットワーク）が、企業のグリーンボンド発行意向に与える影響を分析。ネットワークを通じた情報拡散と環境コミットメントのシグナリングが、グリーンファイナンスの普及を促進することを実証。企業の実務と政策への示唆を提供。
English
This study analyzes the impact of board networks with prior green bond issuers (green networks) on firms' propensity to issue green bonds across 45 economies. It provides robust evidence that green networks foster green bond issuance through information diffusion and signaling of environmental commitment, with implications for corporate practice and policy to facilitate network-building.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではグリーンボンド市場の拡大が進む中、取締役会ネットワークを通じたベストプラクティスの共有は、企業のグリーンファイナンス導入を促進する上で有用。本研究成果は、日本のグリーン成長戦略や持続可能な金融政策の設計に示唆を与える。
In the global GX context
Globally, green bonds are a key instrument for financing the transition. This paper highlights the role of board-level networks in spreading green finance practices, which can inform policies under frameworks like the EU Green Bond Standard and the ICMA Green Bond Principles.
👥 読者別の含意
🔬研究者:Provides empirical evidence on network spillovers in green bond markets, grounding in resource dependence and social capital theories.
🏢実務担当者:Illustrates how firms can leverage board connections to learn from peers' green bond issuance experiences and enhance environmental reputation.
🏛政策担当者:Suggests that facilitating network-building and transparency in disclosures can amplify the diffusion of green bond practices.
📄 Abstract（原文）
This study investigates the impact of board networks with previous green bond issuers—hereafter referred to as green networks—on the propensity of green bond issuances relative to conventional bonds across 45 economies. The analysis provides robust evidence that firms with boards embedded in green networks exhibit a greater propensity to issue green bonds as opposed to conventional bonds. The effect is particularly pronounced for firms that obtain favorable green bond related information via their green networks and for those firms motivated to strengthen their environmental reputation. These findings suggest that board green networks function as an important mechanism for information diffusion and for signaling environmental commitment, thereby fostering the spillover of green financing practices across firms. Grounded in resource dependence and social capital theories, the study highlights the critical role of board‐level networks in shaping financing choices. Specifically, board green networks help mitigate information asymmetry and signal environmental reputation. The findings on green networks have direct implications for both corporate practice and public policy. Firms can leverage these networks to learn from peers' experiences, reducing risks in their own bond issuance. Policymakers could support this process by facilitating network‐building and creating platforms for sharing best practices in green bonds and other sustainability initiatives. Strengthening transparency in environmental disclosures could further stimulate green bond issuance by reinforcing the credibility and spillover of such practices across firms.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1111/corg.70022first seen 2026-07-01 06:01:10
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