| Electric power industry is the basic and public industry of national economy.The electric power enterprises,especially large state-owned electric power enterprise are the mainstay of the electric power industry.Therefore,it is of great significance to improve the overall efficiency of the electric power industry by analyzing the operating performance of large state-owned power enterprises.As the large state-owned power enterprises,the five major power groups have obvious advantages in the overall scale and equipment.This study analyzes the financial indicators of the five large state-owned power enterprise's profitable ability,operational ability,and debt paying ability,development ability and level of risk.This study finds out the advantages,disadvantages,opportunities and threats of electric power enterprises in the process of operation.On this basis,this study uses factor analysis to evaluate the performance of the electric power enterprise,and analyze the effect mechanism of enterprise innovation ability on operation performance..The study found that the five power groups have well operating performance between 2012 and 2016.Specifically,the financial risks faced by the power companies are decreasing,the profitability and solvency are increasing,and the operating capacity and the ability to develop are weakening.The enterprise innovation ability has a significant positive influence on the enterprise operating performance,and the more investment and output of enterprise scientific and technological innovation,the better the enterprise's operating performance.At the same time,the research also found that the enterprise capital structure is the most important factoraffecting the enterprise performance.Therefore,enterprises can improve enterprise performance by increasing investment in scientific and technological innovation,improving financing methods and ownership structure. |
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