Títulos Verdes e Desempenho: uma análise das empresas brasileiras de capital aberto

Túlio Gonçalves  Gomes; Jaluza Borsatto; Aracy Alves  Araújo

doi:10.5007/2175-8077.2022.e84781

Green Bonds and Performance: an analysis of publicly traded brazilian companies

Authors

Túlio Gonçalves Gomes Federal University of Uberlândia https://orcid.org/0000-0002-3876-962X
Jaluza Borsatto Universidade Federal de Uberlândia/FAGEN
Aracy Alves Araújo Federal University of Uberlândia https://orcid.org/0000-0002-5497-5159

DOI:

https://doi.org/10.5007/2175-8077.2022.e84781

Keywords:

Green bonds, Financial instruments, Financial performance, Environmental impacts, Brazilian companies

Abstract

Green Bonds are relevant financial instruments for mitigating and adapting to climate change, and have been attracting the interest of companies around the world. In this sense, the objective of this study is to verify the impact of issuing green bonds on the operational and financial performance of publicly traded Brazilian companies. For the analysis, panel data regressions were performed from a sample of 50 publicly traded companies in the period 2015 to 2020. The results showed that the fact that the company issued green bonds did not influence the performance of companies measured by ROA, ROE and Ebtm neither in the year of its issuance nor in the years after its issuance. These findings contribute to future research on the subject in order to guide researchers and managers regarding the understanding of the importance of green bonds to finance projects that minimize environmental impacts.

Author Biographies

Túlio Gonçalves Gomes, Federal University of Uberlândia

Doctoral candidate in Administration at the Federal University of Uberlândia (Beginning 2019). He is currently the Administrative Manager of the Hospital de Clínicas de Uberlândia / HCU-UFU Ebserh.

Aracy Alves Araújo, Federal University of Uberlândia

PhD in Applied Economics from the Federal University of Viçosa (UFV).
Adjunct Professor at the Federal University of Uberlândia, Faculty of Management and Business (UFU – FAGEN)

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Published

2022-05-26

How to Cite

Gomes, T. G. ., Borsatto, J., & Araújo, A. A. . (2022). Green Bonds and Performance: an analysis of publicly traded brazilian companies. Revista De Ciências Da Administração, 24(62), 140–151. https://doi.org/10.5007/2175-8077.2022.e84781

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Issue

Vol. 24 No. 62 (2022): Revista de Ciências da Administração

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