A Study On Operating Performance Evolution Of New Energy Industry Listed Companies Based On DEA

In recent years, with the rapid development of global new energy, new energy productsgetting accepted by people and occupying the corresponding market share in the economicfield. Vigorously developing new energy in china can mitigate the pressure of energy, optimizecurrent energy structure and as a strategic task for promoting sustainable economicdevelopment in the meantime. As the economic internationalization and marketization of chinagoes higher, the competition between the new energy enterprises have been becoming morecompetitive. The weakening foreign demand could redistribute the cards in the new energyindustry. This is undoubtedly put forward higher requirements for the performance level ofnew energy companies. It has becoming an urgent issue that how to optimize the allocation ofinternal resources and adjust their business structure of new energy to improve its operationalefficiency and output.Firstly, on the basis of present research, this paper defined concepts of performance andperformance evaluation, described the development history of foreign performance-appraisingsystem and reviews the research on the status of the domestic performance evaluation.Secondly, this paper studied influencing factor, developmental stage, industry chain and scaleof new energy industry, analyzed new energy listed company’s total assets, equity scaleposition, financial condition and results of operations status, made a comparison between theseseveral common performance evaluation methods, the DEA was selected according toadvantages and disadvantages comparison with the parameters of the SFA. Again, this paperevaluated operating performance of new energy industry’s listed companies from the static anddynamic aspects. DEA model was used to measure the static performance of new energy listedcompanies; Malmquist index was used to measure the dynamic operating performance of new energy listed companies. The study came to the following conclusions.(A) The overall input-output efficiency of china’s new energy listed companies is not toohigh. Through2009to2012, there were20,23,16,21new energy listed companies’ puretechnical efficiency and scale efficiency were1at the same time which were at the effectiveforefront, accounting for30.77%,35.38%,24.62%,32.31%of the selected companies; In thescale of effective enterprise total samples were58.46%,46.15%,36.92%and36.92%respectively; decreasing returns to scale in the company’s share of the sample ratio was24.62%,36.92%,49.23%,50.77%.(B) This paper carries on projecting analysis onperformance of new energy company in2012. The results shows that the input of each variablehas redundancy to a different degree, but mainly concentrated on three aspects: in capitalinvestment, labor input and innovation input. Insufficient output focus on net income andearnings per share.(3) In the study period, the operating efficiency of new energy industrylisted companies had been declined. The mean of TFP index is0.942. Technological changeindex of new energy companies are basically consistent with changes in total factorproductivity index, showing a downward trend after the first rising, technological change is themain driving force to improve performance. From a long-term perspective, improvingtechnical efficiency change index and technological change especially scale efficiency changehas considerable potential to promote technological change index.Finally, this paper proposes measures from the angles of industry and enterpriseseparately.