A. Afonso, M. Arghyrou, and A. Kontonikas, The Determinants of Sovereign Bond Yield Spreads in the EMU, SSRN Electronic Journal, pp.2012-2026, 2012.
DOI : 10.2139/ssrn.2223140

S. Ardagna, F. Caselli, and T. Lane, Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries, The B.E. Journal of Macroeconomics, vol.7, issue.1, 2004.
DOI : 10.2202/1935-1690.1417

M. Attinasi, C. Checherita, and C. Nickel, What explains the surge in euro area sovereign spreads during the financial crisis of 2007-09?, 2009.

T. Baig, M. Kumar, G. Vasishtha, and E. Zoli, Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?, IMF Working Paper, vol.184, issue.06, 2006.

E. Baldacci and M. Kumar, Fiscal Deficits, Public Debt, and Sovereign Bond Yields, 2010.

L. Barbosa and S. Costa, Determinants of sovereign bond yield spreads in the euro area in the context of the economic and financial crisis, 2010.

A. Bassen, H. M. Holz, J. Sclange, K. Meyer, and A. Zamostny, The influence of corporate responsibility on the cost of capital. An empirical analysis, 2006.

S. Barrios, P. M. Lewandowska, and R. Setzer, Determinants of intra-euro area government bond spreads during the financial crisis, 2009.

R. Bauer and D. Hann, Corporate Environmental Management and Credit Risk, SSRN Electronic Journal, 2011.
DOI : 10.2139/ssrn.1660470

R. Bauer, D. Hann, and J. Derwall, Employee Relations and Credit Risk " , Working Paper presented at the, Academy of Management Meeting, 2009.

A. Beber, M. W. Brandt, and K. A. Kavajecz, Flight-to-Quality or Flight-to-Liquidity? Evidence from the Euro-Area Bond Market, Review of Financial Studies, vol.22, issue.3, pp.925-957, 2008.
DOI : 10.1093/rfs/hhm088

D. Bellas, M. G. Papaioannou, and I. Petrova, Determinants of Emerging Market Sovereign Bond Spreads, p.281, 2010.
DOI : 10.1596/9780821384831_CH04

R. Benabou and J. Tirole, Intrinsic and Extrinsic Motivation, Review of Economic Studies, vol.70, issue.3, pp.489-520, 2003.
DOI : 10.1111/1467-937X.00253

K. Bernoth, J. Von-hagen, and L. Schuknecht, Sovereign risk premiums in the European government bond market, Journal of International Money and Finance, vol.31, issue.5, pp.31-975, 2012.
DOI : 10.1016/j.jimonfin.2011.12.006

K. Bernoth and B. Erdogan, Sovereign bond yield spreads: A time-varying coefficient approach, Journal of International Money and Finance, vol.31, issue.3, pp.31-639, 2012.
DOI : 10.1016/j.jimonfin.2011.10.006

T. Besley and M. Ghatak, Competition and Incentives with Motivated Agents, American Economic Review, vol.95, issue.3, pp.616-636, 2005.
DOI : 10.1257/0002828054201413

URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.142.3639

T. L. Brewer and P. Rivoli, Politics and Perceived Country Creditworthiness in International Banking, Journal of Money, Credit and Banking, vol.22, issue.3, pp.357-369, 1990.
DOI : 10.2307/1992565

R. Cantor and F. Packer, Determinants and impact of sovereign credit ratings, New York Economic Policy Review, vol.2, pp.37-53, 1996.

A. Cartapanis, Les crises de change, qu'avons-nous appris depuis dix ans?, Economie internationale, vol.88, issue.4, pp.1-16, 2002.

J. I. Citron and G. Nickelsburg, Country risk and political instability, Journal of Development Economics, vol.25, issue.2, p.385392, 1987.
DOI : 10.1016/0304-3878(87)90092-7

F. Ciocchini, E. Durbin, and D. Ng, Does corruption increase emerging market bond spreads?, Journal of Economics and Business, vol.55, issue.5-6, pp.503-528, 2003.
DOI : 10.1016/S0148-6195(03)00052-3

L. Codogno, C. Favero, and A. Missale, Yield spreads on EMU government bonds, Economic Policy, vol.18, issue.37, pp.503-532, 2003.
DOI : 10.1111/1468-0327.00114_1

M. Connolly, Measuring the Effect of Corruption on Sovereign Bond Ratings, Journal of Economic Policy Reform, vol.87, issue.4, pp.309-323, 2007.
DOI : 10.1162/003465300558533

D. Agostino, A. Ehrmann, and M. , The pricing of G7 sovereign bond spreads: The times they are a changing, 2013.

V. De-bruyckere, M. Gerhardt, G. Schepens, and R. Vennet, Bank/sovereign risk spillovers in the European debt crisis, Journal of Banking & Finance, vol.37, issue.12, pp.4793-4809, 2013.
DOI : 10.1016/j.jbankfin.2013.08.012

C. S. Decker and M. E. Woher, Substitutability or complementarity? Re-visiting Heyes??? IS-LM-EE model, Ecological Economics, vol.74, pp.3-7, 2012.
DOI : 10.1016/j.ecolecon.2011.12.010

B. Drut, Sovereign Bonds and Socially Responsible Investment, Journal of Business Ethics, vol.65, issue.4, pp.131-145, 2010.
DOI : 10.1007/s10551-010-0638-3

A. Ebner, An empirical analysis on the determinants of CEE government bond spreads, Emerging Markets Review, vol.10, issue.2, pp.97-121, 2009.
DOI : 10.1016/j.ememar.2009.02.001

S. Eichler, The political determinants of sovereign bond yield spreads, Journal of International Money and Finance, vol.46, pp.82-103, 2013.
DOI : 10.1016/j.jimonfin.2014.04.003

S. Eichler and D. Maltritz, The term structure of sovereign default risk in EMU member countries and its determinants, Journal of Banking & Finance, vol.37, issue.6, pp.1810-1816, 2013.
DOI : 10.1016/j.jbankfin.2012.02.002

P. Eichholtz, N. Kok, and E. Yonder, Portofolio greenness and the financial performance of REITs, Journal of International Money and Finance, issue.7, pp.31-1911, 2012.

E. Ghoul, S. Guedhami, O. Kwok, C. C. Mishra, and D. R. , Does corporate social responsibility affect the cost of capital?, Journal of Banking & Finance, vol.35, issue.9, pp.2388-2406, 2011.
DOI : 10.1016/j.jbankfin.2011.02.007

C. Erb, C. Harvey, and T. Viskanta, The Influence of Political, Economic, and Financial Risk on Expected Fixed-Income Returns, The Journal of Fixed Income, vol.6, issue.1, pp.7-31, 1996.
DOI : 10.3905/jfi.1996.408169

G. Ferrucci, Empirical Determinants of Emerging Market Economies' Sovereign Bond Spreads, SSRN Electronic Journal, issue.205, 2003.
DOI : 10.2139/ssrn.597422

M. Flannery, J. Houston, and F. Partnoy, Credit default swap spreads as viable substitutes for credit ratings, University of Pennsylvania Law Review, vol.158, pp.2085-2123, 2010.

B. Frey, Not Just For the Money: An Economic Theory of Personal Motivation, Cheltenham (U.K, 1997.

P. C. Godfrey, C. B. Merrill, and J. M. Hansen, The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis, Strategic Management Journal, vol.26, issue.4, pp.425-445, 2009.
DOI : 10.1002/smj.750

G. `-omez-puig and M. , Size matters for liquidity: Evidence from EMU sovereign yield spreads, Economics Letters, vol.90, issue.2, pp.156-162, 2006.
DOI : 10.1016/j.econlet.2005.07.020

J. W. Gruber and S. B. Kamin, Fiscal Positions and Government Bond Yields in OECD Countries, Journal of Money, Credit and Banking, vol.28, issue.8, pp.1563-1587, 2012.
DOI : 10.1111/j.1538-4616.2012.00544.x

A. Heyes, A proposal for the greening of textbook macro: IS-LM-EE, Ecological Economics, vol.32, pp.1-7, 2000.

D. Haugh, P. Ollivaud, and D. Turner, What Drives Sovereign Risk Premiums? An Analysis of Recent Evidence from the Euro Area, OECD Economics Department Working Paper, 2009.

A. Hesse, Added value, long term, Non-financial sustainability key performance indicators on their way into financial reports of German companies, 2006.

J. Hilscher and Y. Nosbusch, Determinants of Sovereign Risk: Macroeconomic Fundamentals and the Pricing of Sovereign Debt, Review of Finance, vol.14, issue.2, pp.235-262, 2010.
DOI : 10.1093/rof/rfq005

J. Kohut and A. Beeching, Sovereign bonds: spotlight on ESG risks, Principles for responsible investment (PRI), 2013.

D. Maltritz, Determinants of sovereign yield spreads in the Eurozone: A Bayesian approach, Journal of International Money and Finance, vol.31, issue.3, pp.31-657, 2012.
DOI : 10.1016/j.jimonfin.2011.10.010

S. Manganelli and G. Wolswijk, What drives spreads in the euro area government bond market?, Economic Policy, vol.24, issue.58, pp.191-240, 2009.
DOI : 10.1111/j.1468-0327.2009.00220.x

P. Margaretic and S. Pouget, Sovereign bond spreads and extra-financial information: an empirical analysis of emerging markets, 2014.

M. Martynova and L. Renneboog, A Corporate Governance Index: Convergence and Diversity of National Corporate Governance Regulations, SSRN Electronic Journal, 2010.
DOI : 10.2139/ssrn.1557627

I. Matei and A. Chaptea, Sovereign Bond Spread Drivers in the EU Market in the Aftermath of the Global Financial Crisis, Paris 1 Pantheon-Sorbonne University (Post-Print and Working Papers) hal-00845660, 2012.
DOI : 10.2139/ssrn.2082295

URL : https://hal.archives-ouvertes.fr/hal-00845660

A. Mody, From Bear Stearns to Anglo Irish: How Eurozone Sovereign Spreads Related to Financial Sector Vulnerability, IMF Working Papers, vol.09, issue.108, 2009.
DOI : 10.5089/9781451872552.001

N. Mora, Sovereign credit ratings: Guilty beyond reasonable doubt?, Journal of Banking & Finance, vol.30, issue.7, pp.2041-2062, 2006.
DOI : 10.1016/j.jbankfin.2005.05.023

L. Moret and P. Sagnier, Sovereign Debt Investing: ESG Framework and Applications, AXA Investment Managers, 2013.

C. Moser, The impact of political risk on sovereign bond spreads: evidence from Latin America, Proceedings of the German Development Economics Conference, 2007.

M. and E. Research, Integrating ESG into the Investment Process, Whitepaper, 2011.

. Novethic, SRI: How to rate and select governments, 2010.

I. Oikonomou, C. Brooks, and S. Pavelin, The Impact of Corporate Social Performance on Financial Risk and Utility: A Longitudinal Analysis, Financial Management, vol.3, issue.2, pp.483-515, 2012.
DOI : 10.1111/j.1755-053X.2012.01190.x

J. Santiso, The Political Economy of Emerging Markets: Actors, Institutions and Crisis in Latin America, 2003.
DOI : 10.1057/9781403973788

B. Scholtens, The Environmental Performance of Dutch Government Bond Funds, Journal of Business Ethics, vol.29, issue.S1, pp.117-130, 2010.
DOI : 10.1007/s10551-010-0637-4

L. Schuknecht, V. Hagen, J. Wolswijk, and G. , Government risk premiums in the bond market: EMU and Canada, European Journal of Political Economy, vol.25, issue.3, pp.371-384, 2009.
DOI : 10.1016/j.ejpoleco.2009.02.004

S. Sgherri and E. Zoli, Euro Area Sovereign Risk During the Crisis, IMF Working Paper, vol.24, issue.4, 2009.
DOI : 10.1002/9781118267073.ch47

P. Spencer and Z. Liu, Modelling Sovereign Credit Spreads with International Macro Factors: The Case of Brazil, Journal of Banking & Finance, vol.37, issue.2, pp.241-256, 1998.

N. Sim, Environmental Keynesian macroeconomics: Some further discussion, Ecological Economics, vol.59, issue.4, pp.401-405, 2006.
DOI : 10.1016/j.ecolecon.2005.11.006

&. Sustainability and . Mistra, Values for Money: Reviewing the Quality of SRI Research London : SustainAbility ; Stockholm : Mistra http://www.ethicalquote.com/docs/values-for-money Transparency International, Corruption Perceptions Index (CPI), pdf Union Investment, p.12, 2004.

P. Wooldridge, INSTRUMENTAL VARIABLES ESTIMATION WITH PANEL DATA, Econometric Theory, vol.21, issue.04, pp.865-869, 2005.
DOI : 10.2307/2297968

E. Zoli, How does Fiscal Policy Affect Monetary Policy in Emerging Market Countries?, SSRN Electronic Journal, issue.174, 2005.
DOI : 10.2139/ssrn.757632