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  <front>
    <journal-meta>
      <journal-id journal-id-type="publisher-id">14</journal-id>
      <journal-title-group>
        <journal-title>《商业》</journal-title>
        <abbrev-journal-title>Shang Ye</abbrev-journal-title>
      </journal-title-group>
      <issn>ISSN:2810-9678</issn>
      <publisher>
        <publisher-name>华文科学出版社</publisher-name>
      </publisher>
    </journal-meta>
    <article-meta>
      <article-id pub-id-type="publisher-id">1750</article-id>
      <title-group>
        <article-title>A Blockchain-Based Eco-Compensatory Green Bond</article-title>
      </title-group>
      <contrib-group>
        <contrib contrib-type="author">
          <string-name>Hanqing Li 1 Yanqi Zhu 1 Xuanmei Zhang1 Xuanqi Xie1 Yang Zhang2 （1School of Economics</string-name>
        </contrib>
        <contrib contrib-type="author">
          <string-name>Jilin University</string-name>
        </contrib>
        <contrib contrib-type="author">
          <string-name>China.</string-name>
        </contrib>
        <contrib contrib-type="author">
          <string-name>2School of Northeast Asia</string-name>
        </contrib>
        <contrib contrib-type="author">
          <string-name>Jilin University</string-name>
        </contrib>
        <contrib contrib-type="author">
          <string-name>China.）</string-name>
        </contrib>
      </contrib-group>
      <pub-date pub-type="epub">
        <year>2024</year>
        <month>2</month>
      </pub-date>
      <issue>2</issue>
      <abstract>
        <p>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</p>
      </abstract>
    </article-meta>
  </front>
</article>
