Research On The Influence Of Government Regulation On The Performance Of New Energy Automobile Enterprises

Facing the dual pressure of energy shortage and environmental pollution,the development of new energy vehicles has become a global consensus.As an emerging industry,new energy vehicles are faced with the problems of immature technology and high cost in the early stage of their development,which makes it impossible to drive auto companies to turn to the production of new energy vehicles automatically by relying on the market alone.Therefore,countries around the world have introduced comprehensive incentive policies to promote the development of new energy automobile enterprises,and achieved significant stimulus effect.However,due to the lack of supervision and information asymmetry between government and enterprise,the effect of these regulatory policies has not reached the expectation.Therefore,it is the core of promoting the healthy and sustainable development of new energy automobile enterprises to evaluate the effect of regulatory policies and formulate reasonable regulatory policies.Based on previous studies,this paper divides government regulation into government incentive regulation and government regulation.First of all,combined with the sustainable development theory,stakeholder theory,market failure theory and the incomplete information game theory,combing and analysis of the government in the new energy vehicles at home and abroad in the enterprise development in the process of implementation of different regulation policy and its effect on the basis of using the game theory method,the game relation between government and enterprises are discussed.The research hypothesis that government regulation has double influence on the performance of new energy automobile enterprises is put forward,including the positive influence of government incentive regulation on the performance of new energy automobile enterprises,and the negative influence of government regulation on the performance of new energy automobile enterprises.Secondly,based on the quarterly panel data of listed Chinese new energy automobile companies from 2013 to 2018,a multiple regression model was established to test the research hypothesis and identify the impact of different government regulation methods on the performance of new energy automobile companies.The empirical results show that: first,the higher the government incentive regulation intensity is,the better the performance of new energy automobile enterprises will be.Meanwhile,this kind of incentive regulation has a higher effect on the performance of state-owned new energy automobile enterprises than non-state-owned new energy automobile enterprises.Second,government regulatory regulation limits the performance improvement of new energy vehicle enterprises.Meanwhile,the negative impact of government regulatory regulation on the performance of state-owned new energy vehicle enterprises is greater than the negative impact on the performance of non-state-owned new energy vehicle enterprises.Thirdly,government regulation promotes the improvement of government incentive regulation on the performance of new energy automobile enterprises.Meanwhile,the improvement is more significant for nonstate-owned new energy automobile enterprises,but has no significant impact on state-owned new energy automobile enterprises.Finally,based on the current situation and theoretical hypothesis of government regulation,as well as the empirical test results,Suggestions are put forward to improve the performance of new energy automobile enterprises at the government and enterprise levels.