Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power

Jiayan Huang

doi:10.47297/wspdecWSP2515-797310.20250908

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Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power

Volume 9, Issue 8

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Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power
Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power
Investment Economics, School of Economics and Managemen, Xiamen University of Technology, Xiamen, Fujian, 361024, China
Vol. 9, Issue 8, Pages: 58-64(2025)
Published：30 August 2025
DOI：10.47297/wspdecWSP2515-797310.20250908
Accepted：

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Huang Jiayan.Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power[J].Development Economics of China,2025,09(08):58-64.
DOI：

Huang Jiayan.Research on the Impact of Green Bond Issuance on Corporate Financial Performance and Market Valuation: A Case Study of Longyuan Power[J].Development Economics of China,2025,09(08):58-64. DOI： 10.47297/wspdecWSP2515-797310.20250908.

摘要

Abstract

In the context of the acceleration of global climate governance and the implementation of our country's "dual carbon" goal

green bonds have become the core tool connecting the capital market and the green industry. This paper takes Longyuan Power as the research object

and systematically explores the impact and mechanism of green bond issuance on corporate financial performance and market valuation by using case analysis and event research methods. The study found that the core motivations for Longyuan Power's issuance of green bonds include optimizing financing costs

supporting new energy strategic transformation and responding to policies

and enhancing green reputation. From the perspective of financial performance

green bonds significantly improve short-term cash flow and gross profit margin

but in the long term

attention needs to be paid to the debt repayment pressure brought about by the interest-bearing asset-liability ratio. At the market valuation level

the issuance announcement triggers a positive reaction to short-term stock prices and obtains a certain green premium in the long term

but the risk of subsidies receivable and ESG "greenwashing" may weaken valuation stability. In terms of impact mechanism

green bonds form financing cost advantages through policy support and investor preferences

optimize capital structure through debt term matching

and strengthen corporate reputation through green signal transmission. This study can provide reference for the formulation of green financing strategies for new energy enterprises

investor decision-making

and regulatory policy optimization

and help the deep coupling of green finance and the real economy.

关键词

Keywords

references

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