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Analysis of institutional authors

Laborda, JuanCorresponding Author

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December 10, 2024
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Green Bond Finance in Europe and the Stock Market Reaction

Publicated to:Estudios De Economía Aplicada. 39 (3): - 2021-01-01 39(3), DOI: 10.25115/eea.v39i3.4125

Authors: Laborda, Juan; Sanchez-Guerra, Alvaro

Affiliations

BANK SABADELL, Dept CAPITAL MARKETS, Alicante, Spain - Author
Univ Carlos III, Dept Business Adm, Madrid, Spain - Author

Abstract

This paper examines the increasing importance of green, social and sustainable bonds in the financial markets. We first detail the theoretical framework, introducing sustainable development and green finance; relating green bonds to both ecological economics literature, and the central banks perspective; and, finally, analyzing the green bonds efficiency as a financial resource. Afterwards, we estimate the effect of green bond issues on the companies share's price. So we collect the companies share' prices around the announcement of the issue. Then we build an event time window with different time ranges before and after the announcement with the accumulated returns in order to be able to observe the reaction in the market in different stages. We demonstrate that the announcement of a green bond has a positive reaction in the market by increasing the return on shares of green bond issuing.

Keywords

Announcement of the green bond issueCentral banksEcological economicsGreen bondsShares' prices reactioShares’ prices reaction

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal Estudios De Economía Aplicada, Q4 Agency Scopus (SJR), its regional focus and specialization in Economics and Econometrics, give it significant recognition in a specific niche of scientific knowledge at an international level.

From a relative perspective, and based on the normalized impact indicator calculated from the Field Citation Ratio (FCR) of the Dimensions source, it yields a value of: 8.84, which indicates that, compared to works in the same discipline and in the same year of publication, it ranks as a work cited above average. (source consulted: Dimensions Aug 2025)

Specifically, and according to different indexing agencies, this work has accumulated citations as of 2025-08-02, the following number of citations:

  • WoS: 10
  • Scopus: 14
  • Google Scholar: 26
  • Open Alex: 11

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-08-02:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 121 (PlumX).

Leadership analysis of institutional authors

There is a significant leadership presence as some of the institution’s authors appear as the first or last signer, detailed as follows: First Author (LABORDA HERRERO, JUAN) .

the author responsible for correspondence tasks has been LABORDA HERRERO, JUAN.