Table 5.

YTM paired t-test results by maturity

MaturityNMeanDiff.t-valuep-value
Green sukukGreen bond
Short term4,2533.764.09−0.33−19.700.000***
Long term9,1456.034.851.18108.480.000***

Note(s):

Short-term maturity is defined as less than five years, while long-term maturity is defined as more than five years. The results show the mean differences in YTM between green sukuk and green bonds for each maturity category. The causality tests are conducted considering a lag of two periods. N indicates the total number of observations, Mean represents the mean YTM values of green sukuk and green bonds and Diff. denotes the difference in mean YTM values between green sukuk and green bonds. The t-values represent the ratio of the difference between the paired observations to the standard error of the difference. The p-value indicates the probability that the observed differences occurred by chance, with significance levels denoted as *p < 0.10, **p < 0.05 and ***p < 0.01

Source(s): Authors’ own work

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