G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16692
DP16692 Too-big-to-strand? Bond versus bank financing in the transition to a low-carbon economy.
Winta Beyene; Manthos Delis; Kathrin De Greiff; Steven Ongena
发表日期2021-11-03
出版年2021
语种英语
摘要What is the role market- and bank-based debt play in the climate transition process? We present evidence that bond markets price the risk that assets held by fossil fuel firms strand, while banks in the syndicated loan market seemingly do not price this risk much. Consequently, to fulfill their financing needs fossil fuel firms increasingly rely less on bonds and more on loans. We can interpret the within-firm bond-to-loan substitution along stranding risk as a contraction in the supply of bond versus bank funding. Within the banking sector especially the big banks are willing to provide cheaper and more financing to fossil fuel firms.
主题Financial Economics
关键词Climate policy risk Financial intermediation Stranded assets Credit misallocation
URLhttps://cepr.org/publications/dp16692
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/545628
推荐引用方式
GB/T 7714
Winta Beyene,Manthos Delis,Kathrin De Greiff,et al. DP16692 Too-big-to-strand? Bond versus bank financing in the transition to a low-carbon economy.. 2021.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Winta Beyene]的文章
[Manthos Delis]的文章
[Kathrin De Greiff]的文章
百度学术
百度学术中相似的文章
[Winta Beyene]的文章
[Manthos Delis]的文章
[Kathrin De Greiff]的文章
必应学术
必应学术中相似的文章
[Winta Beyene]的文章
[Manthos Delis]的文章
[Kathrin De Greiff]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。