Title: THE IMPACT OF SUSTAINABLE DEVELOPMENT AND GREEN BONDS ON FIRM VALUE: EVIDENCE FROM LISTED COMPANIES DURING THE PERIOD 2017–2024
Authors:
Nguyen Thi Thu Hang, Nguyen Khanh Nhi, Nguyen Thuy Linh, Nguyen Yen Nhi, Le Quynh Anh and Tran Hoai Nam
Abstract:
This study analyzes the impact of sustainable development and green bonds on firm value based on a sample of listed companies issuing green bonds during the period 2017–2024. In the context of the growing emphasis on sustainable finance, green bonds have emerged as an important capital-raising instrument for environmentally friendly projects. Using panel data and regression models, the study examines the direct effects of ESG performance and green bond issuance on firm value, while also investigating the mediating and moderating roles of green bonds in the relationship between ESG and firm value. The results indicate that sustainable development and green bond issuance exert a positive impact on firm value; green bonds serve both as an effective financing channel and as a mechanism that strengthens the relationship between ESG performance and firm value.
Keywords: Sustainable development; ESG; Green bonds; Firm value; listed companies.
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