THESIS TOPIC PROPOSAL FORM
79248059753500APPENDIX 6
THESIS TOPIC PROPOSAL FORM
Please complete and return this form via submission point (which is located under the Thesis tab on Canvas entitled Thesis Topic Proposal Form submission link).
Name: Satyam Shinde
Student Number: S398523 Email: S.Shinde.523@cranfield.ac.uk Tel: 07570292793
Programme of Study: MSc in Investment Management
PROVISIONAL TITLE
This may be your first attempt at a title. It may change as your work progresses. At this stage it should closely mirror the content of your proposal.
Green bonds and its stock market performance.
BACKGROUND
This should explain why you feel the research you are planning is worthwhile. This may be expressed in the form of a problem which needs solving, or something you find of interest. You are expected to demonstrate, in brief, a clear link between the previous work that has been done in this field and the content of your proposal. You should indicate the key literature sources from which you intend to draw your ideas.
The research topic of Green bonds and their stock market performance is indeed a subject of great interest. Green bonds are financial instruments specifically designed to fund environmentally friendly projects, such as renewable energy, energy efficiency, and sustainable infrastructure. As the world faces pressing environmental challenges, the promotion and success of green bonds can play a vital role in transitioning towards a more sustainable future. The issue at hand is the need for sustainable financing options to support green projects. While green bonds have gained traction in recent years, there is still a need to explore their impact on the stock market. By examining the stock market performance of companies issuing green bonds, we can assess the financial implications and investor sentiment surrounding these investments.
The paper titled "Stock Market Reactions to Green Bond Issuance in France, Germany, and the Netherlands" establishes a significant connection with prior research conducted in the field of green bonds and stock market performance. Notably, Scholtens and Wagner (2018) conducted a study examining the financial performance of banks issuing green bonds, providing valuable insights into the potential benefits of green bonds for financial institutions.
Overall, the paper titled "Stock Market Reactions to Green Bond Issuance in France, Germany, and the Netherlands" contributes to the scholarly discourse by linking previous research on green bonds with the specific focus on stock market performance in these three countries. The empirical evidence and insights obtained from this research provide valuable implications for both academia and industry, aiding stakeholders in assessing the financial ramifications of green bond investments and facilitating more informed decision-making processes.
RESEARCH QUESTIONS AND HYPOTHESES
This should provide a clear indication of what your research seeks to achieve.
What is the impact of green bond issuance on the stock market performance of companies?
Do companies experience significant abnormal returns around the announcement of green bond issuance?
Are there variations in stock market reactions to green bond issuance across different industries or countries?
PROPOSED METHODOLOGY
This section should detail how you intend to achieve your research objectives.
Research Design:This section gives an overall view of the method chosen and the reason for that choice.
This study will employ an event study methodology, which is widely used in financial research to assess the effects of specific events on stock market performance. By focusing on the announcement of green bond issuance, this approach enables the analysis of abnormal returns and provides insights into the market's perception of such events. The research will concentrate on a sample of companies that have issued green bonds within specific industries and countries.
Data Collection:This section should include much more detail about how specifically the data are to be collected and associated issues of access and ethics.
The sample will consist of companies that have issued green bonds during a specified time period in the selected industries and countries. The identification of such companies will be based on comprehensive database Bloomberg.
Data pertaining to stock prices and trading volumes will be collected for the selected companies. These data can be sourced from reputable financial databases such as Bloomberg or Datastream.
TIMESCALE
This should provide a guide to the anticipated completion of each stage of your research.
Target date Tasks to be achieved
30th June
30th July
05th August
Data collection & methodology
Literature review
Final draft
RESOURCES
This will provide an indication of the viability of your proposal, in terms of data access and equipment, and should include an acknowledgement of any anticipated problems in any area.
Finance:Include realistic costs such as travel, subsistence, help with data analysis or postage for questionnaires
Data Access:State how you will access the required data, for example, do you have contacts within relevant organisations?
Equipment:State how you intend to analyse the data, including computer software packages to be used.
ETHICAL ISSUES RELATED TO YOUR RESEARCH PROPOSAL (CURES online form, that needs to be completed before starting data collection early July)
This should provide a consideration of ethical issues related to the processes, outcomes and implication of the project.
Each student should also successfully complete CURES online form, before data collection.
https://intranet.cranfield.ac.uk/researchethics/Pages/default.aspxeRAP (Plagiarism Online Course that needs to be completed by end of January)
Each student should successfully complete the eRAP - online course (pass mark is 75%).
I declare that I _________Satyam Shinde______________, have successfully completed the required eRAP course.
REFERENCES
Provide a list of 5 literature sources to which you have referred in the background section that relate to the previous work undertaken in your area of study.
1. Tang, D.Y. and Zhang, Y. (2018). Do shareholders benefit from green bonds? Journal of Corporate Finance, 61(101427). doi: https://doi.org/10.1016/j.jcorpfin.2018.12.001.
2. Baulkaran, V. (2019). Stock market reaction to green bond issuance. Journal of Asset Management, 20(5), pp.331340. doi:https://doi.org/10.1057/s41260-018-00105-1.
3. Laborda, J. and Snchez-Guerra, . (2021). Green Bond Finance in Europe and the Stock Market Reaction. Studies of Applied Economics, 39(3). doi:https://doi.org/10.25115/eea.v39i3.4125.
4. mta-cranfield-ac-uk.eu1.proxy.openathens.net. (n.d.). OpenAthens / Sign in. [online] Available at: https://mta-cranfield-ac-uk.eu1.proxy.openathens.net/handle/1826.1/16083.
5. Pham, C.D. and Phuoc, L.T. (2020). Is estimating the Capital Asset Pricing Model using monthly and short-horizon data a good choice? Heliyon, [online] 6(7). doi:https://doi.org/10.1016/j.heliyon.2020.e04339.
-247650000Thesis Briefing Notes
Thesis Engagement and contact points
Thesis extensions
Absence requests
Thesis Engagement and Contact Points
Students must provide written evidence of supervisor/student meetings, copied to SAS, to be filed centrally, at least once a month.
Student Immigration and Funding (SIF) run audit checks on the engagement of students studying on a Tier 4/Student visa.
If a student misses two consecutive contact points, SIF will be informed of the non-engagement and the student will be at risk of having the Universitys Tier 4/sponsorship withdrawn.
Extract from University Student Academic Engagement Policy
Thesis extensions
Course Directors may approve extension requests provided that
the extension is for 2 weeks or less;the request was submitted at least two weeks prior to the thesis hand-in date (THID);the request is supported by the Supervisor (this could be email confirmation);third party evidence has been provided to support the request
All extension requests must meet the Universitys definition of exceptional circumstances
NB: a two-week extension on the grounds that the student has simply failed to complete the work on time is not an exceptional circumstance.
For extension requests of longer than 2 weeks or those submitted less than two weeks before the THID must be approved by the Student Casework Team.
All thesis extensions have fixed extension periods which can only be approved by the Student Casework Team with appropriate evidence, these are: 1 month, 3 months, 6 months, or 12 months.
Extension requests submitted without the proper paperwork/third party evidence will be rejected.
An extension to the Thesis may impact on the eligibility for the Graduate route visa the student must have successfully completed the course (ie. had their result confirmed by the Board of Examiners and received their pass letter) to apply for the graduate route visa.
Absence Requests
If a student is unwell and unable to engage with the Thesis process, they should consider suspending registration and completing at the next opportunity which will be in the next academic year. If a student is unable to study, they may not be able to meet the requirements of the visa.
Medical evidence, that is relevant, unexpected, and external (see above) must be provided to support a case for suspension.
If a student is leaving the UK to complete the Thesis, an Absence Request Form must be approved by the Course Director. Leaving the UK will impact eligibility for the Graduate route visa.
Please contact your SAS Lead to discuss your options.
