Multi-criteria analysis of green bonds: Hybrid multi-method applications

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dc.contributor.authorLombardi Netto, Antonio [UNESP]
dc.contributor.authorSalomon, Valerio Antonio Pamplona [UNESP]
dc.contributor.authorOrtiz Barrios, Miguel Angel
dc.contributor.institutionUniversidade Estadual Paulista (UNESP)
dc.contributor.institutionCorporación Universitária de la Costa
dc.date.accessioned2022-04-28T19:44:54Z
dc.date.available2022-04-28T19:44:54Z
dc.date.issued2021-10-01
dc.description.abstractThere is an increasing pressure by the community and customers forcing companies to insert environmental concerns in their practices. To help companies initiatives, the green bonds market was created. Our research question is “How to select bonds in a growing billion-dollar market?” This paper presents a multi-criteria decision analysis (MCDA) model to enable investors identify opportunities based not only in opinions, but grounded on objective facts. Analytic hierarchy process (AHP), complex proportional assessment (COPRAS), full consistency method (FUCOM), step-wise Weights Assessment Ratio Analysis (SWARA), and technique of order preference similarity to the ideal solution (TOPSIS) are MCDA methods applied in this paper. Top-fifteen green bonds ranked by specialized media were assessed with the proposed MCDA model. Criteria included the Environmental Performance Index (EPI) proposed by Yale University, and common financial indicators as assets, risks (β), and dividends. The new ranks from MCDA are compared each other and compared with the rank published by specialized media.en
dc.description.affiliationDepartment of Production School of Engineering Universidade Estadual Paulista Júlio de Mesquita Filho
dc.description.affiliationDepartment of Industrial Engineering Corporación Universitária de la Costa, Calle 58 #55–66
dc.description.affiliationUnespDepartment of Production School of Engineering Universidade Estadual Paulista Júlio de Mesquita Filho
dc.description.sponsorshipAssociation for Progressive Communications
dc.description.sponsorshipCoordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)
dc.identifierhttp://dx.doi.org/10.3390/su131910512
dc.identifier.citationSustainability (Switzerland), v. 13, n. 19, 2021.
dc.identifier.doi10.3390/su131910512
dc.identifier.issn2071-1050
dc.identifier.scopus2-s2.0-85115718246
dc.identifier.urihttp://hdl.handle.net/11449/222484
dc.language.isoeng
dc.relation.ispartofSustainability (Switzerland)
dc.sourceScopus
dc.subjectAHP
dc.subjectCOPRAS
dc.subjectCorporate finance
dc.subjectEnvironmental performance
dc.subjectFinancial planning
dc.subjectFUCOM
dc.subjectGreen bonds
dc.subjectMCDA
dc.subjectSWARA
dc.subjectTOPSIS
dc.titleMulti-criteria analysis of green bonds: Hybrid multi-method applicationsen
dc.typeArtigo

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