Research On Financial Support Of Energy Industry In Shanxi Province

The object of this paper is the financial support of energy industry in Shanxi Province.The reform policies of Supply-side reform and financial reform,have provide new ideas for the development of China's energy industry.And thus it is so significant to realize the reform of energy industry from the financial perspective.Shanxi Province is one of Chinese major energy industry bases.It is very important to research the effectiveness of financial support for its energy industry from this perspective.Through the qualitative method,this paper analyzes the financial support of the energy industry in Shanxi Province from three aspects of banking,securities and insurance,and finds out that there are three main problems.One of problems is that the loan is too concentrated.The second problem is that the energy credit is in contradiction with the national policies.The smaller capital market and the single energy finance products is the third problem.And then through quantitative method,it wants to explain why these problems exist,and finds out the reasons.Specifically,It is use the DEA analysis method and Tobit model to analyzes the relevant indicators of the energy industry in Shanxi Province listed companies from angles of the enterprises financing channels,the market risk,and the growth ability of the enterprise after financing.Finally,it can calculate the enterprise financial support for comprehensive efficiency,pure technical efficiency and scale efficiency,as well as the impact of its financial support efficiency factors according to these indicators.The conclusion of the study is that the financial support efficiency of the clean energy and the comprehensive energy is very effective because the external environment is conducive to its production and its development.Therefore,such enterprises can be more flexible to adjust the internal management strategy to enhance the development of enterprises.However,the number of these enterprises is still less.It should increase the financial support for such enterprises to help them and solve the problem of over concentration of credit.On the other hand,the financial support of the basic energy industry is gradually declining because of the influence of spontaneous condition and external environment.So,these enterprises can not be timely adjusted according to changes in the market.However,the number of such enterprises is still more.To improve the pure technical efficiency level of these enterprises,it must change the management plans.In this way,it can improve its credit structure contradictions,and increase the enterprises'financing channels.Finally,according to the above analysis,this paper puts forward some specific policy recommendations from the point of view of the government and the market.