Research on the Motivation and Effect of Y Company Private Placement Financing from a Low Carbon Perspective

基于“双碳目标”，本文选取了2017年以低碳创新为融资目标的Y公司为案例研究其定向增发的融资动因及效应。通过研究得到以下结论：1) Y公司实施的定向增发(Private Placement)在资本市场传递出积极信号，基于信号传递理论(Signaling Theory)，该行为不仅提升了企业融资能力，且通过机构投资者战略配售机制形成市场背书效应，有效强化了企业的行业声誉与品牌价值；2) 基于AHP模型构建的综合绩效评价体系显示，在低碳视角下其定向增发在经济方面产生正向效应。研究为低碳转型企业优化股权融资策略提供理论与实践参考。Based on the “dual carbon goal”, this article selects Y Company, which had low-carbon innovation as its financing goal in 2017, as a case study to investigate the financing motives and effects of its targeted issuance. The following conclusions were drawn through research: 1) The private placement implemented by Company Y sends a positive signal in the capital market. Based on the Signaling Theory, this behavior not only enhances the company’s financing ability, but also forms a market endorsement effect through the strategic allocation mechanism of institutional investors, effectively strengthening the company’s industry reputation and brand value; 2) The comprehensive performance evaluation system constructed based on the AHP model shows that from a low-carbon perspective, its targeted issuance has a positive effect on the economy. Research provides theoretical and practical references for optimizing equity financing strategies for low-carbon transformation enterprises.