A Blockchain-Based Eco-Compensatory Green Bond
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A Blockchain-Based Eco-Compensatory Green Bond

Under the assumption that issuing green bonds effectively enhances the intrinsic value of listed enterprises, this paper first establishes a double-difference model using annual panel data spanning nine years from 2014 to 2022 at the firm level. Through panel DID regression and parallel trend tests, we conclude that the issuance of green bonds significantly increases the value of listed enterprises. Building upon this finding, we propose a novel type of green bond named BC-EcoComp Green Bond (Blockchain Ecological Compensation Green Bond), featuring a floating interest rate linked to ecological compensation mechanisms. Leveraging blockchain technology, we tokenize this bond, aiming to innovate green bond instruments to a certain extent, reduce issuance costs, and thereby better facilitate financial support for environmental conservation efforts

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