Study On The Motivation And Effect Of "19 Jiangsu Golden Rent Bond" Green Bond Issued By Jiangsu Golden Rent

With the introduction of the ’double carbon’ policy,the low carbon sector is growing rapidly and there is a strong demand for companies to make a low carbon transition in their business.Along with the increase in investment in infrastructure in China,there is a strong demand for companies to expand their financing for business expansion purposes.In China,there has been a clear upward trend in targeted financing through green debt instruments in recent years.This paper takes the perspective of non-banking financial enterprises and examines the motivations for enterprises to issue green bonds.Based on theories such as reputation theory,signaling theory and efficient market theory,this paper selects Jiangsu Golden Rent,the first listed financial leasing company in China,whose first issue of green bonds in 2019,as a research case,and mainly uses the case study method and event study method to explore the motives of Jiangsu Golden Rent’s financing through green bonds in terms of debt structure,financing channels and risk management,and to analyse The study also analyses the market reaction,financial performance and environmental performance of the enterprise after the financing act.Combined with whether the effect has met expectations,the problems and causes of Jiangsu Gold Rent’s green bond financing are extracted,and the following recommendations are made:(1)the government should strengthen policy incentives and provide policy support for green bond issuance;(2)enterprises should improve the disclosure mechanism and enhance the quality of information disclosure;(3)enterprises should further expand financing channels to promote the healthy and sustainable development of green bonds.This paper provides an in-depth analysis of the motives of green bond issuance and the effects generated by Jiangsu Golden Rent,which will provide reference and reference for the selection of future corporate debt financing instruments and enrich the existing literature research.