Study On The Impact Of Structural Shock On The Performance Of China's Petrochemical Enterprises

Oil is an important energy and basic raw material,and its price fluctuations have a major impact on Sinopec enterprises.With the continuous adjustment of the world industrial structure,high-energy industries have gradually shifted to developing countries,and international oil price fluctuations have a greater impact on the economies of developing countries with higher energy consumption and greater dependence on crude oil imports.The largest developing country is China.China is the world's largest oil importer.The data of the General Administration of Customs shows that China's foreign oil dependence has increased from 67.4% in 2017 to 72.3% in 2018.The increase in import dependence will lead to a more significant impact of international oil price volatility on the domestic economy.In recent years,a key point in the study of international petroleum issues has been to re-examine the structural causes of fluctuations in international oil prices.The impact of structural shocks on international oil price volatility and China's petrochemical enterprises has also gradually increased.Petrochemical companies are not only a major supplier of energy,but also a pillar of the materials industry.Therefore,starting from the reality of our country,studying the impact of structural shocks on the performance of China's petrochemical enterprises,clarifying the relationship between structural shocks,international oil price fluctuations and the performance of China's petrochemical enterprises is of great significance to the sustainable and stable development of China's petrochemical enterprises.Based on the perspective of oil price shock decomposition,this paper studies the impact of structural shocks on the performance of China's petrochemical enterprises.Firstly,it introduces the research background and significance,the research status and comments at home and abroad,and focuses on how structural impact affects the performance of China's petrochemical enterprises,and clarifies the research content,methods and technical routes.On this basis,it expounds the structural impact,international oil prices and petrochemical enterprises.Concept,explain relevant theory;Secondly,analyze the relationship between structural shock,international oil price volatility and the performance of China's petrochemical enterprises,put forward research hypotheses,construct explanatory variables for petrochemical enterprise performance,explain variables for economic aggregate demand shock,and oil supply shock Regression model of the impact of China's petrochemical enterprises on the impact of specific oil demand;again,empirical analysis of the relationship between structural shocks,international oil price volatility and China's petrochemical enterprise performance,clear data source and sample selection,using STATA software Descriptive statistics and correlation analysis.On this basis,the main effects of structural impacts on the performance of China's petrochemical enterprises and the mediating effects of international oil price fluctuations are tested.Finally,for the empirical analysis of Chapter 4,from the perspective of enterprises,Oil supply Click negative impact on China's petrochemical business performance of proposed countermeasures to deal with the structural impact of China's petrochemical enterprises to improve business performance.