What is it about?

This study investigates the impact of green bond issuance on corporate performance and further checks the intermediate effect of corporate innovation performance on the primary relationship. This study uses the quarterly panel data of Chinese non-financial listed companies in 11 subdivided industry categories from January 1, 2016, to September 30, 2020.

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Why is it important?

The findings shows that companies' issuance of green bonds has a significant positive effect on improving corporate innovation performance and corporate value. Furthermore, the improvement of innovation performance assists in enhancing the promotion effect of green bond issuance on corporate value.

Perspectives

The findings can be very helpful for all relevant stakeholders, especially regulators, to introduce conducive policies to support the issuance of green bonds in Chinese. Further, it can be useful for other emerging markets that are dealing with the same green bond-based growth-sustainability conundrum.

Dr Muhammad Usman Khurram
Zhejiang University

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This page is a summary of: Green bonds issuance, innovation performance, and corporate value: Empirical evidence from China, Heliyon, April 2023, Elsevier,
DOI: 10.1016/j.heliyon.2023.e14895.
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