Analysis Of Technical Efficiency And Its Influencing Factors Of China’s New Energy Industry

Energy consumption, resources depletion, and environmental pollution problems are beginning to attain more and more public attention. New energy has been emphasized by many countries in the world in its absolute superiority, such as environmental protection, renewable and clean. Many countries have increased the development of new energy industry to the national strategic level, and China is no exception. Especially for the huge pressure of China’s current economic development for the energy and China’s environmental situation, regardless of the ecological environment and sustainable development of energy in economic growth is short and undesirable. In October 24, 2012, Information Office of the State Council issued the 《China Energy Policy》, in which develop new energy vigorously was seen as an important strategic task of our government.For the development of new energy industry, technical efficiency is a key problem that can’t be avoided and neglect. Improving the industry overall input-output ratio is full of extremely important significance for the adjustment of energy structure in China, ease the energy shortage, and to seize the international energy market. Therefore, this paper studies deeply technical efficiency for the new energy industry in china. Considering availability of the sample data, with 42 new energy listing corporations in China’s Shanghai and Shenzhen stock markets as research samples, we measure the technical efficiency during 2008 to 2013 by the three stage DEA model, and analysis from the new energy industry in general, different categories of new energy, new energy listing corporation respectively. Finally, we suggest related hypotheses of factors which affect the technical efficiency of the listing new energy corporation, and construct panel Tobit model to estimate the relation between each factor and the technical efficiency of listing new energy corporations. The main results as follows.(1) There are still larger spaces to promote the technology efficiency level of our country’s new energy industry. Although technical research capability and industry management efficiency of our new energy industry has been improved significantly, but the problem of excess production, low level repeated construction still restrict the improve of scale efficiency, leading to the decline of technical efficiency level.(2)Different categories of new energy are different in sample period. Geothermal, garbage power generation as the representative of the other types of new energy, its technical efficiency level is the highest; nuclear technology industry ranks second; the wind power industry technical efficiency ranks the last row. Technical efficiency level of sample firms is influenced by environmental factors and random factors in different degree, thus the comprehensive technical efficiency before and after the adjustment has the varying degree change.(3)The correlation between R& D investment level and technical efficiency level of new energy listing corporation is positive, and enhance the level of technical efficiency most obviously. The level of staff quality of new energy listing corporation also has a certain role in promoting technical efficiency. The more the management expenses to total assets ratio, the worse to the improvement of technical efficiency level of the new energy listing corporation. The first major shareholder of new energy listing corporation is a state-owned corporation or not will not affect the level of technical efficiency of the company.Based on the above conclusions, we get suggestions in four aspects, separately from the expansion of new energy technology products market demand, to encourage new energy technology innovation, training technical personnel of new energy professional and formulating preferential development policies of new energy industry, in order to provide greater market demand for our new energy industry,create advantage development environment, and through professional training and core technology research to promote the technical efficiency level of the whole industry.