绿色债券对企业绿色创新效率的影响研究

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中图分类号：F832.5 文献标识码：A 文章编号：1004-0714（2025）04-0076-05

Research on the Impact of Green Bonds on the Efficiency of Green Innovation in Enterprises

YANG Jing（SchoolofgentdoicsngUityologyingn）

Abstract：Greentransformationisanimportant strategicgoalinChina，andtheefficiencyof greeninnovationisanimportant criterion for measuring the effectiveness of green transformation.The issuance of gren bondshasa significant impact on improving theefficiency of enterprise green innovation.Thisarticletakes non-financiallisted companies onA-share market from2016to2022asthe researchobject，and examinestherelationshipbetween green bondsandtheefficiency of corporategreeninnovation.Researchhas found that issuing green bonds can significantly improve the greenlinnovation efficiency of enterprises. Mechanismresearch has found that thisimprovement effectisachieved byalleviating financing constraints of enterprises through green bonds，enhancingthe degree of enterprise greening，and releasing more green signals toattract investment.Thisarticleprovides theoretical support forthe formulationof policiesrelated to the issuance of green bonds.

Keywords：Green Bonds;Green Innovation Efficiency;Information Disclosure; Green Degree;Financing Constraints

一、引言

党的二十大报告强调：实现发展绿色转型是实现中华民族伟大复兴的重要战略部署。（剩余9387字）