Resumo do trabalho

This study examines the long-term effects of green bond issuance on both ESG performance and financial outcomes of European companies in high-emission sectors. Structured as a series of interconnected essays, the thesis investigates whether green bonds are associated with measurable improvements in environmental, social, and governance (ESG) scores, as well as key financial indicators such as ROA, ROE, EBITDA, and cost of debt. Using a quantitative approach, the research applies panel data econometrics—including Difference-in-Differences models and fixed effects regressions—alongside machine learning techniques for robustness and variable selection. The empirical analysis relies on data from LSEG Refinitiv and Refinitiv ESG, covering 2015 to 2025. Results are expected to advance academic knowledge and guide both managerial and regulatory practice, clarifying the effectiveness of green bonds in simultaneously promoting sustainability and financial performance.