Paper Title
DOES GREENIUM EXIST? EVIDENCE FROM JAPANESE CORPORATE BOND MARKET

Abstract
This study examines the presence of greenium in Japan's corporate bond market. 'Greenium' refers to the phenomenon where green bonds, compared to traditional bonds with identical issuance conditions, exhibit lower yields (higher prices). This study empirically analyzes straight and green corporate bonds issued by Japanese non-financial corporations between 2016 and 2021. The findings reveal no significant differences in the yield spreads between the two bond types, suggesting that greenium does not manifest in the Japanese corporate bond market. Keywords - Green Bond, Premium, Greenium, Bond Market, Empirical Analysis