From: Did green debt instruments aid diversification during the COVID-19 pandemic?
 | Full Sample (%) | Panel A | Panel B | Panel C | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Pre-COVID-19 (%) | t-test between Full Sample & Pre-COVID-19 | COVID-19 (%) | t-test between Pre-COVID & COVID-19 | Epidemic (%) | Pandemic (%) | t-test between Epidemic & Pandemic | Pre-COVID-19 (Indonesia) (%) | COVID-19 (Indonesia) (%) | t-test between Pre-COVID & COVID-19 | ||
Sukuk & Bond | 13.99 | 11.64 | − 0.55 | 15.97 | − 7.89 | 6.23 | 18.60 | − 30.09 | 10.91 | 17.20 | − 6.31 |
Green Sukuk & Bond | 15.50 | 16.12 | − 7.78 | 14.97 | 1.00 | 3.54 | 18.07 | − 6.89 | 14.29 | 16.76 | − 1.52 |
Green Sukuk & Sukuk | 39.00 | 51.21 | − 3.05 | 28.69 | 21.67 | 16.28 | 32.06 | − 13.13 | 47.33 | 30.28 | 13.40 |
Conventional Stock & Bond | 19.47 | 16.27 | − 0.83 | 22.18 | − 11.38 | 10.97 | 25.22 | − 33.69 | 15.00 | 24.16 | − 13.07 |
Conventional Stock & Sukuk | 2.19 | − 5.31 | 0.33 | 8.52 | − 12.92 | − 4.52 | 12.06 | − 22.12 | − 5.09 | 9.80 | − 14.00 |
Conventional Stock & Green Sukuk | 11.50 | 11.39 | − 4.75 | 11.60 | − 0.55 | − 8.62 | 17.08 | − 18.82 | 9.33 | 13.78 | − 2.73 |
Islamic Stock & Conventional Stock | 85.69 | 76.39 | 8.02 | 93.54 | − 15.11 | 92.13 | 93.92 | − 14.91 | 77.83 | 93.90 | − 13.90 |
Islamic Stock & Bond | 17.76 | 14.99 | − 1.17 | 20.10 | − 8.54 | 6.06 | 23.90 | − 34.48 | 13.51 | 22.20 | − 9.14 |
Islamic Stock & Sukuk | − 0.10 | − 9.07 | 0.69 | 7.47 | − 14.06 | − 6.28 | 11.20 | − 27.18 | − 8.79 | 8.98 | − 15.12 |
Islamic Stock & Green Sukuk | 8.30 | 8.31 | − 6.05 | 8.28 | − 0.37 | − 14.00 | 14.32 | − 22.13 | 5.92 | 10.78 | − 2.85 |