Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Multi-Criteria Analysis of Green Bonds: A Hybrid Ahp–Copras Application

Version 1 : Received: 15 July 2021 / Approved: 16 July 2021 / Online: 16 July 2021 (15:02:53 CEST)

How to cite: Lombardi Netto, A.; Salomon, V.A.P.; Ortiz-Barrios, M. Multi-Criteria Analysis of Green Bonds: A Hybrid Ahp–Copras Application. Preprints 2021, 2021070383 (doi: 10.20944/preprints202107.0383.v1). Lombardi Netto, A.; Salomon, V.A.P.; Ortiz-Barrios, M. Multi-Criteria Analysis of Green Bonds: A Hybrid Ahp–Copras Application. Preprints 2021, 2021070383 (doi: 10.20944/preprints202107.0383.v1).

Abstract

There is an increasing pressure by community and customers forcing companies to insert environmental concerns in their practices. To help companies initiatives, the green bonds market was incepted. 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) and Complex Proportional Assessment (COPRAS) are two 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 AHP–COPRAS rank is compared with another published by specialized media.

Subject Areas

AHP; COPRAS; corporate finance; environmental performance; financial planning; green bonds; MCDA

Comments (0)

We encourage comments and feedback from a broad range of readers. See criteria for comments and our diversity statement.

Leave a public comment
Send a private comment to the author(s)
Views 0
Downloads 0
Comments 0
Metrics 0


×
Alerts
Notify me about updates to this article or when a peer-reviewed version is published.
We use cookies on our website to ensure you get the best experience.
Read more about our cookies here.