Research on the Impact of Green Finance on Enterprise Value

This paper uses the panel data of China listed companies from 2012 to 2024 as the research sample and employs the difference-in-differences method to empirically test the effect of green finance reform and innovation pilot policies on corporate value. The study finds that the implementation of green finance pilot zones significantly promotes the improvement of corporate value within their jurisdictions, and further analyzes the mediating effect: green finance pilot zone policies enhance corporate value by reducing corporate financing constraints and promoting green innovation. Based on the above conclusions, this paper proposes two policy recommendations: first, increase policy incentives to stimulate corporate green innovation; second, increase policy incentives to stimulate corporate green innovation.