2025.06.05.
亀田ゼミ卒業生の卒業論文がInternational Review of Financial Analysisに掲載
島内拓杜さん・山本大輝さん・田浦侑斗さん（総合政策学科 亀田啓悟研究室 2024年3月卒業）らのゼミ研究論文が国際的に権威ある学術誌 International Review of Financial Analysis の2025年6月号（Vol. 102）に掲載されました。
本論文は、学部生として取り組んだ卒業論文・進級論文をもとに執筆されたものであり、学術誌への掲載は極めて異例の快挙です。研究の独創性と学術的貢献が高く評価された結果であり、今後のさらなる活躍が期待されます。
論文の概要は以下の通りです。
【タイトル】
Sustainability bond, sustainability-linked bond, and firms' environmental performance
【著書】
Takuto Shimauchi , Masaki Fukui , Daiki Yamamoto , Yuto Taura , Keigo Kameda
【概要】
The issuance of green bonds, which channel toward green projects, has surged in recent years. However, sustainability and sustainability-linked bonds, which have looser restrictions on the use of funds than green bonds, also allocate funds to support green initiatives. While research on these bonds is expanding, no study has examined whether the issuance of sustainability and sustainability-linked bonds leads to enhancements in environmental performance. To address this gap, our study investigates the relationship between the issuance of sustainability bonds and sustainability-linked bonds and corporate environmental performance using a difference-in-difference approach with an event study methodology. Our findings suggest that the issuance of sustainability and sustainability-linked bonds does not contribute to improving corporate environmental performance. Therefore, implementing strict regulations on the use of proceeds is crucial to ensure the effectiveness of these bonds.
