Assessment of the Environmental Performance of the Public Green Bond Issuers in the Asian Markets (STATA 17 DO File)
Description
This study examines whether publicly listed firms that issued green bonds had different environmental performance from matched non-green-bond issuers in Asian markets in fiscal year 2025. The sample includes 72 firms: 24 green-bond issuers and 48 matched controls. Firms were matched 1:2 by country and sector, followed by nearest-neighbour matching on asset size. Environmental performance is measured using the LSEG Environmental Score (0–5), with firm size, leverage, ROA, and ROE as control variables. The code applies descriptive statistics, Welch t-tests, Mann–Whitney tests, matched-triplet Wilcoxon signed-rank and sign tests, and five OLS regression specifications, including country/sector and matched-triplet fixed effects and a GreenBond × firm-size interaction. Energy, Financial Institution, and China subsamples are also examined as robustness checks. The results indicate associations between green-bond issuance and environmental performance within the matched sample, but the cross-sectional design does not establish causal effects.
Files
Institutions
- University of DhakaDhaka Division, Dhaka