Research On The Impact Of Longyuan Power Issuing Green Bonds On Enterprise Performance

As the public,government and investors recognize the importance of climate change,social,economic and environmental sustainability has catched the attention of society,and the clean energy industry is growing.Green bond is an important part of the concept of green finance.China pays attention to the construction and development of green bond market in recent years.For enterprises,the issuance of green bonds can be a helping hand for green enterprises to expand financing channels and relieve financing pressure.As a necessary energy related to people’s livelihood and daily life,the development and utilization of electric energy plays an important role in the world energy shortage and climate change.Based on this,this paper selects Longyuan Power as an example to study the case of green bonds issued by this enterprise.This paper firstly analyzes the current situation of China’s green bond market and sorts out relevant policies in recent years.Then it introduces the definition of relevant concepts and combs the research results in China and abroad in recent years and the specific theories involved in the research in detail.Secondly,in the case introduction part,it analyzes the industry background of Longyuan Power,introduces the basic information of the enterprise and the issuing situation of green bonds,and then analyzes the issuing motivation from two aspects of external macro and internal enterprise development.In the research on the impact of issuing green bonds on corporate performance,this paper evaluates the impact on corporate performance from the three aspects of market performance,financial performance and environmental performance.In terms of market performance,this paper uses the event study method to analyze the impact of two green bonds issued by Longyuan Power.In terms of financial performance,the paper first studied the changes of financial data of Longyuan Power over the years when it issued green bonds,and then constructed a financial performance evaluation system through the entropy method to calculate scores and compare and analyze the financial performance of Longyuan Power before and after issuing green bonds.In terms of environmental performance,this paper sorted out the key investment projects raised by Longyuan Power from issuing green bonds,and measured the environmental performance of the enterprise through the data of pollutant emission reduction and power generation.Finally,the research conclusion of this paper is drawn: Longyuan Power’s issuance of green bonds has a positive impact on corporate performance,and the enterprise has improved in market performance,financial performance and environmental performance,which improves the overall performance.In addition,this paper puts forward suggestions from the perspectives of enterprises,regulators and investors to provide experience for promoting the development of China’s green bond market.