Research On The Motivation And Effect Of Green Bond Financing Issued By M-grass Ecology

With the rapid development of the economy,the environment is also being damaged.In the face of this problem,it must be rooted out from the root.Therefore,green economy and green development have emerged as the times require.Green development is one of the ways to solve the pollution problem.It is an inevitable requirement for building a high-quality modern economic system.As a green financial instrument,green bonds have the dual attributes of "green" and "bonds".In the green financial system,green bonds are developing rapidly and are also a widely used financing method.Because of their low cost and fast approval,they have gradually become a special financing channel for the development of green industries,and have become a favorite of green industry enterprises.one of the financing methods.Therefore,this thesis selects M-grass Ecology as a case company,and starts from the motivation of M-grass Ecology to issue green bonds,and explores the impact of green bonds issued by enterprises on company stock prices,financial indicators,and social effects.This thesis mainly uses the event research method and the comparative analysis method to analyze the market effect,financial effect and social effect of the green bonds issued by M-grass Ecology in 2017.At that time,M-grass Ecology chose to issue green bonds for the purpose of responding to green development,reducing financing costs,alleviating debt repayment pressure,and reducing financial risks.The study found that the market’s reaction to green bond issuance was negative,while the market responded positively to redemption;the improvement in financial effect was obvious in the year of green bond issuance,and financial risks increased again in subsequent years;In terms of social effects,the successful issuance of M-grass ecological green bonds has provided experience and reference for other companies to issue green bonds,but information disclosure on environmental benefits is relatively lacking.By analyzing the whole process of green bond issuance by M-grass Ecology,we can understand the motives and effects of green bonds issued by enterprises,and further draw inspirations that are conducive to the sustainable development of enterprises and promote the development of green bonds.