Green Bond, Institutional Investors and Corporate Value

Abstract

Based on the data of China’s green bond market, this paper selects companies that issue green bonds in China’s A-share listed companies from 2015 to 2021 and other listed companies in the industry as research objects to explore the impact and mechanism of green bond issuance on corporate value. Through empirical analysis, it is verified that green bond issuance can enhance the corporate value of issuing enterprises, and further tests the mediating effect of institutional investors’ shareholding between green bond issuance and corporate value.