Empirical Research On The Factors Influencing The Financing Efficiency Of New Energy Industry In China

The traditional energy sources are in dilemma because of it’s non-renewable, sothe new energy industry becomes a hot spot for investment because of it’s uniqueadvantage of circulation, environmental protection. The new energy industry is inneed of financial support during its development period. scholars from domestic andforeign suggest that changes of the financial support decide the developing of thefinancing road, therefore, the new energy industry financing efficiency’s improvementwill accelerate the developing process of the new energy industries, accelerating thefinancial services innovation while promoting the economic growth of the new energyindustries, both mutual promotion and common development. The study of thefinancing efficiency of China’s new energy industry has import practical significance.In addition to company’s own capital, funds from external financing providenecessary capital in the development and construction of the new energy industries.The different financing channels lead to different financing efficiency and thus havean impact on the new energy industry output, productivity and sustainability. Based onthe factors affecting the new energy industry’s financing, we analyze the financingefficiency through the empirical analysis. Firstly, the paper reviews the foreign andthe domestic scholars’ theory on the industry financing and financing efficiency,providing theoretical reference for subsequent research; secondly, introducing theconcepts and the theory of new energy, financing, efficiency and financing efficiency,providing theoretical basis for the following study; then, synthesis of relevant scholars,making a systematic analysis for the factors influencing the financing efficiency,selecting index cases; then, define the index cases, processing the collected data, usingmultiple linear regression equation method, estimating the new energy efficiency,selecting the relevant indicators, analyzing the financing performance of our country’snew energy listed companies and it’s impacting factors, coming to the effects from theselected variables on the dependent variable; finally, suggesting through theimprovement of the financial markets, increasing policy support measures, combingwith the development stage of the new energy industry, the condition of the internalfinancing and external financing, we can ease the new energy industry’s difficultiesthrough regulatory system, the innovation of the financial services and new energybusinesses, so that, we can improve the new energy enterprise’s efficiency, accelerating the construction of the new energy industries and promoting thedevelopment of new energy industries.