Research On Financing Model About Chinese New Energy Enterprise

As the foundation of the social development,energy becomes the main motive force of economic development.The global energy demand is increasing quickly and obviously.Under the background of ecological environment,the development of new energy industry has become the center of energy strategy.《National Action Plan for Energy Development Strategy(2014-2020)》,also pointed out explicitly to encourage the development of new and renewable energy in the future.At present,the development of the new energy industry becomes the bottleneck of energy strategy,and the financing problem of the energy is very complex,affected by many factors.Especially after financial crisis,global economic growth is slow,and even some degree of decline,the total global trade and the decline in foreign investment.Under the influence of countries around the world are seeking new economic and strategic high ground,in order to regain economic development.Similarly,China also attaches great importance to the development of energy industries.Through the use of the method of combining normative analysis and empirical analysis,combined with the development status Of China’s new energy industry enterprises,and to analyze the financing situation and its causes.DEA(data envelopment analysis)and empirical evaluation of the financing efficiency of China’s new energy industry and on the basis of this efficiency.The results of this paper and the main conclusions are:re-combing on the basis of previous research on the theory of finance and financing efficiency,new energy industry and international research sub category Summary,identify the results of research and not yet involved in research directions.Analysis of the Financial Situation of China’s new energy industry and to clarify the reason for the status quo of China’s new energy industry financing.Financing efficiency measure,the representative of China’s new energy industry listed companies through the establishment of data envelopment model for quantitative analysis of the financing efficiency of China’s new energy industry,research shows that China’s new energy industry corporate finance efficiency is not high,and downward trends,returns to scale,showed a decreasing trend.Examined the factors influencing the efficiency of China’s strategic emerging industries listed companies financing through the establishment of the panel data model.The results showed that total assets and Hnancing efficiency is related to the asset-liability ratio is positively related to financing efficiency,current liabilities to total liabilities ratio is positively related to operating and financing efficiency cost margin and financing efficiency are positively correlated.The structure of the paper is divided into six parts,the first part of this study is the introduction,background,significance and value,an overview of the research situation and research methods.The second part describes the theoretical basis of the corporate finance,including financing and financing theory overview of the meaning of efficiency and evaluation of an overview of the theoretical support for this study.The third section describes the financing and Genetic Analysis of China’s new energy industry.The fourth part is the empirical part of this paper introduces the construction of the DEA model,Industrial financing and build the model to empirical analysis.Part VI summarizes the conclusions of this paper and on the basis of the foregoing part to improve financing efficiency of China’s new energy industry to provide countermeasures and suggestions.