Green bond underwriting, financial openness, and profitability of commercial banks

Using data from Chinese listed commercial banks from 2012 to 2022 and a fixed-effects model, this study examines the relationship between green bond underwriting, financial openness, and commercial bank profitability and analyzes whether bank size plays a moderating role in this relationship. Results reveal that green bond underwriting harms commercial banks' profitability; financial openness improves their profitability; and bank size plays a crucial moderating role in the relationship between green bond underwriting and bank profitability, as well as between financial openness and bank profitability.