Financial Performance of Government Bond Portfolios Based on Environmental, Social and Governance Criteria

Badía Guillermo (Universidad de Zaragoza) ; Pina Vicente (Universidad de Zaragoza) ; Lourdes Torres (Universidad de Zaragoza)

Resumen: We evaluated the financial performance of government bond portfolios formed according to socially responsible investment (SRI) criteria. We thus open a discussion on the financial performance of SRI for government bonds. Our sample includes 24 countries over the period of June 2006 to December 2017. Using various financial performance measures, the results suggest that high-ratedgovernmentbonds,accordingtoenvironmental,social,andgovernance(ESG)dimensions, outperform low-ranked bonds under any cut-off, although differences are not statistically significant. These findings suggest that ESG screenings can be used for government bonds without sacrificing financial performance.

Idioma: Inglés

DOI: 10.3390/su11092514

Año: 2019

Publicado en: Sustainability (Basel) 11, 9 (2019), 2514 [13pp.]
ISSN: 2071-1050

Factor impacto JCR: 2.576 (2019)

Categ. JCR: ENVIRONMENTAL SCIENCES rank: 120 / 265 = 0.453 (2019) - Q2 - T2
Categ. JCR: ENVIRONMENTAL STUDIES rank: 53 / 123 = 0.431 (2019) - Q2 - T2
Categ. JCR: GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY rank: 26 / 41 = 0.634 (2019) - Q3 - T2
Categ. JCR: GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY rank: 6 / 8 = 0.75 (2019) - Q3 - T3

Factor impacto SCIMAGO: 0.581 - Energy Engineering and Power Technology (Q2) - Environmental Science (miscellaneous) (Q2) - Renewable Energy, Sustainability and the Environment (Q2) - Management, Monitoring, Policy and Law (Q2) - Geography, Planning and Development (Q2)

Financiación: info:eu-repo/grantAgreement/ES/DGA/S56-17R
Financiación: info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-11101
Financiación: info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-91101
Financiación: info:eu-repo/grantAgreement/ES/MICINN/ECO2015-66240-P

Tipo y forma: Artículo (PostPrint)

Área (Departamento): Área Economía Finan. y Contab. (Dpto. Contabilidad y Finanzas)