The green bond market in Morocco has advanced dramatically in recent years and is among the best in the world. The companies listed on the Casablanca Stock Exchange that have issued green bonds serve as the research object in the paper, as the effects of green bond issuance are investigated. Non-linearities in dynamic behaviours are validated by applying the four models in the study's Markov-switching (MS) econometric methodology. The implications of green bond issue on financial performance and corporate social responsibility, as well as the effects on stock price (CSR). Both in high- and low-volatility scenarios, the green bond market is seen to have a favourable impact on the overall calculation. In both high and low volatility scenarios, green bonds have a positive impact on the carbon market. Priorities for the corporation include CSR disclosure activities and ensuring that governments maintain a strong economic foundation for a long-term sustainable market. The claim that green bonds are a crucial element in determining the course of events in the carbon market gains support due to the long-term stability of the low volatility regime. Through an effect akin to insurance, the CSR dramatically lowers the risk premium of corporate bonds. Investors and fund managers can better deploy strategies across a range of market volatility and economic activity with the support of a diversified portfolio built around a climate framework.
A popular subject of general interest is the connection between corporate social responsibility, research and development, tax policy, and the purchase of green bonds. To encourage the coordinated growth of the economy and a pollution-free environment, it is crucial to understand how they interact. The paper develops a theoretical framework based on the general equilibrium theory’s multi-sector model to examine how tax competition affects environmental degradation. The existence of such an effect, which is a threshold effect resulting from corporate social responsibility (CSR), and how it is impacted by CSR are theoretically established. The study used Moroccan province panel data from 2000 to 2022 and the spatial panel threshold model. The empirical finding demonstrates the importance of the threshold impact of CSR since reduced tax competition tends to worsen environmental degradation when CSR is above the threshold value and to reduce it when CSR is below the threshold value. The study also reveals that the impact of tax competitiveness varies regionally. Several policy suggestions are then put out to assist Morocco in reducing environmental pollution through taxation.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.