Research On The Promoting Effect Of The Green Financial System,Environmental Accounting Information Disclosure And Debt Financing Costs

Goverment departments formulate a series of policies and regulations about the green financial system,makes environmental protection,environmental benefits and corparate finance closely linked and sets off a wave of corporate environmental accounting information disclosure.The green financial system makes the environmental benefits become the important factor that affects enterprises’ external financing.The main purpose of this study is to explore the regulatory roles of the green financial system,environmental accounting information disclosure and debt financing costs.According to the characteristics of the case content,the methods of literature analysis,AHP,the double difference method and comparative analysis are used.First,we defined the concepts of the green financial system,environmental accounting information disclosure and debt financing costs,accompanied by the analysis of the existing research background.We also analyzed and summarized the research status both at home and abroad,and put forward the reference for studying the relationship between these three indicators.Secondly,we analyzed the preliminary analysis of Beijing automotive company.We theoretically provided the basis for the case analysis.The paper analyzes the current situation of the green financial system from macro and micro aspects.Establishing the system of environmental accounting information disclosure evaluation.Indicators relate to the green financial system policy and debt financing costs reflecting corporate economic consequences.It’s found that the large weight for index reflecting the economic consequence in the evaluation system.And the paper analyzes the current situation of debt financing cost index in detail.Posing the question and then figure out how to solve them.Thirdly,the data analysis and application of the relationship between environmental accounting information disclosure and debt financing costs driven by green finance is the key analysis part of this paper.The correlation analysis is used to analyze the change of the relationship between the environmental accounting information disclosure and the debt financing cost of Beijing automobile company.This paper analyzes the effect of the debt financing cost before and after the implementation of the green financial system policy.Based on the expected default risk,the issuers of the the green Bonds fully disclosed that the environmental accounting information,then statistically analyzed the correlation among them..Enterprises can reduce the information asymmetry between enterprises and investors and reduce the cost of debt financing by disclosing the financial data and environmental benefit information,and finally came to a case conclusion.Finally,according to the case,put forward countermeasures and suggestions for the current and future development of Beijing automotive company,improve the level of environmental accounting information disclosure and provide reference value for similar listed companies.It is benefit for corporate to get the green sustainable development.