Publications Database

Welcome to the new Schulich Peer-Reviewed Publication Database!

The database is currently in beta-testing and will be updated with more features as time goes on. In the meantime, stakeholders are free to explore our faculty’s numerous works. The left-hand panel affords the ability to search by the following:

  • Faculty Member’s Name;
  • Area of Expertise;
  • Whether the Publication is Open-Access (free for public download);
  • Journal Name; and
  • Date Range.

At present, the database covers publications from 2012 to 2020, but will extend further back in the future. In addition to listing publications, the database includes two types of impact metrics: Altmetrics and Plum. The database will be updated annually with most recent publications from our faculty.

If you have any questions or input, please don’t hesitate to get in touch.

 

Search Results

Avis Devine, Meagan McCollum (2024). "Assessing the Environmental Performance of Green Mortgage-Backed Securities", Journal of Regional Science, 64(4), 1122-1153.

Open Access Download

Abstract The green bond market is growing substantially, bringing with it a focus on economic and environmental performance. Yet while extensive work exists examining the former, there is little concrete evidence regarding the efficacy of green bond use-of-proceeds. Concurrently, the demand for ESG-compliant investments provides an opportunity to direct capital toward the rehabilitation of one of the most energy-intensive asset classes: real estate. One program in this space, the Fannie Mae Green Rewards green bond program, offers incentives to borrowers to increase multifamily building energy and water efficiency. Although all program participants must complete a set of preapproved projects targeting energy and water efficiency within 12 months of loan origination, there exists substantial variation in the realization of postorigination efficiency outcomes, and in the variation between projected and actual efficiency improvements. We find that fixed interest rates and supplemental financing loan structures are associated with postorigination energy efficiency improvements, as are newer, larger, and high-quality assets. However, the ex ante estimates of efficiency savings provided to prospective investors prove unrelated to the efficiency outcomes. These findings highlight opportunities to improve program transparency and calibration across the green bond universe.

Chen, X., Weber, O., & Saravade, V. (2022). "Does It Pay to Issue Green? An Institutional Comparison of Mainland China and Hong Kong’s Stock Markets Toward Green Bonds", Frontiers in Psychology, 13.

Open Access Download

Abstract
The stock market is an indicator of investor sentiment when it comes to new information
or innovative rm-level products. Green bonds are both innovative and unique in terms
of their higher information disclosures and understanding the impact of sustainable nance
on investor outlook for a company’s stock. Using the comparative case of Mainland China
and Hong Kong’s stock market, weexamine whether green bond announcements from
2016 to 2019 can create signicant investor reactions. By employing the event study
methodology, weconrm that both markets react in a positive way toward green bond
announcements. This reinforces the reputational and nancial benets of green bonds.
Wend that issuers that are non-banks, environmentally friendly rms as well as those
issuing non-general bonds, create a more positive reaction, whereas ownership aspects
do not matter as much for investors. However, even among those issuers listed in both
markets, certain institutional dynamics like strategic framing and source credibility tend
to reinforce a rm’s institutional legitimacy and are seen as being more prominent for
investor reaction. The policy implications of our study show that the stock market reaction
among two connected economies, where previously varying institutional contexts have
resulted in regional differences, are now equally supportive of sustainable nancial markets
like the green bond. As seen with the positive stock market sentiment, governments and
listed issuers can now better align their policies and internal strategies, allowing the
low-carbon transition to bea nancially attractive opportunity for all investors.