Date of Publication
7-2-2022
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Accountancy
Subject Categories
Accounting | Corporate Finance | Environmental Studies | International Business | Management Sciences and Quantitative Methods
College
Ramon V. Del Rosario College of Business
Department/Unit
Accountancy
Thesis Advisor
Tereynz Paul D. Mendoza
Defense Panel Chair
Tereynz Paul D. Mendoza
Defense Panel Member
Arnel Onesimo O. Uy
Joy Lynn Legaspi
Abstract/Summary
Climate change and environmental issues have been continuously arising throughout the years and because of this organizations have been incorporating more sustainable practices into their decisions and strategies. One of the activities done by companies to contribute to this and their firm’s sustainable development is through the issuance of green bonds. With the growing demand for green investment opportunities, the primary objective of the study was to determine if the issuance of green bonds and their announcement affected the stock performance of publicly-listed companies in the ASEAN region. The study focused on the five issuers from the region, namely, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The companies also belonged to five sectors: diversified, finance, industrial services, real estate, and utility. Furthermore, this was assessed through an event study methodology with the announcement and issuance dates as the events of interest. This was examined by testing the cumulative average abnormal returns in the duration of the event windows identified. The significance testing on the ASEAN as a whole showed no effect on the stock performance of the companies. However, on a per-country and per-industry level, favorable stock market reactions were found for the Philippines, Singapore, and the real estate sector.
Abstract Format
html
Language
English
Format
Electronic
Keywords
Sustainable development—Southeast Asia; Stock exchanges—Southeast Asia
Recommended Citation
Agarao, M. L., Ebeo, G. T., Jimenea, R. A., & Yason, V. P. (2022). ASEAN stock market reaction on the issuance of green bonds. Retrieved from https://animorepository.dlsu.edu.ph/etdb_acc/32
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Embargo Period
7-2-2022
