Research On The Impact Of Carbon Neutral Bonds On Corporate Performance

As a new financing method in the capital market,carbon neutral bond financing provides a significant role for the injection of corporate funds.China’s new energy power industry is also booming,the demand for funds has surged,and carbon neutral bonds have also become a new financing method for the industry.Since the current research on the impact of carbon neutrality bond financing on the company’s performance is still incomplete,this paper takes the new energy power industry company S as the research object to study the impact of its carbon neutrality bond financing behavior on the company’s performance,summarizes the experience with actual case analysis and puts forward relevant policy suggestions,which has certain research significance.This paper mainly adopts the case study method,takes the leading company S in the new energy power industry as the research object,focuses on analyzing the impact of carbon neutral debt financing of S company on the company’s performance,and draws enlightenment and prospect on this basis.This paper first reviews the domestic and foreign literature,and expounds the concept of carbon neutral bonds,the development history of carbon neutral bond market,the advantages of bond financing,corporate performance and related theoretical foundations.Then,the development of Company S,the carbon neutrality bond issuance of Company S and the channels that affect the company’s performance are analyzed.When analyzing the content of S Company’s carbon neutrality bonds,it is carried out from four aspects: basic terms,issuer commitment,use of funds and debt repayment protection;When analyzing the reasons for the issuance of carbon neutrality bonds of Company S,it was carried out from the aspects of financing needs,financing methods,and advantages of bond financing.When analyzing the channels through which carbon neutrality bonds affect the company’s performance,we analyze them from the aspects of carbon emission reduction benefits,environmental benefits and social benefits.Based on the previous analysis,the impact of carbon neutrality bonds on the performance of S companies is emphasized.They are carried out from the aspects of profitability,asset operation efficiency and solvency,and the comprehensive analysis of economic added value method and principal component analysis method is used to make the results more comprehensive.Finally,the case enlightenment and prospect,for the company,it is necessary to expand new financing channels and rationally use financing tools;For government departments,it is necessary to strengthen information disclosure,avoid the risk of information asymmetry,rationalize institutional reform,and stimulate investment by market entities.