The Impact Of Relative Energy Prices On The Efficiency Of Energy Conservation And Emissions Reduction

With the development of resource shortage,environment worsening and ecological destruction,concept of energy conservation and emissions reduction was proposed with the appearance of the sustainable development thought and practice.Human's extensive ways of the development cause enormous waste of resource and heavy environmental cost.Therefore,improving the efficiency of energy conservation and emissions reduction is the basic way to realize economic sustainable development.And relative energy prices can reflect both the degree of market supply and demand and the scarcity of energy resource.What's more,they can also affect the production and operating activities of major economies,in order to achieve the goal of energy conservation and emissions reduction finally.Therefore,this article analyzed the influence of relative energy prices to listed energy enterprises' efficiency of energy conservation and emissions reduction,both in theory and in practice.Then,under this premise,the article introduced relevant operation index to adjust the relationship,trying to draw more accurate conclusions.This paper adopted the standard method and empirical research method.First,it analyzed the publicity,externality and information asymmetry characteristics of energy conservation and emissions reduction theoretically,to illustrate the necessity of energy conservation and emissions reduction.Second,the mechanism of relative energy prices for energy conservation and emissions reduction were described further.Again,it described the present condition of energy saving and emission reduction and the ways to measure the efficiency of energy conservation and emissions,on which basis,the paper tried to find the relationship between relative energy prices and the listed energy enterprises' efficiency of energy saving and emission reduction on the empirical analysis.Besides,the introduction of technical factors and working capital management efficiency was adjustment to measure the role of the relative energy prices further.Finally,the paper analyzed the influence of industry difference and summed up the main research conclusion,and,in turn,to provide the suggestion and to point out the limitations of this article.In this paper,the main research conclusions are as follows:on the whole,2001-2014,the rising of the relative energy prices can not encourage listed energy enterprises to improve efficiency of energy conservation and emissions reduction;From the industry perspective,black metal smelting and rolling industry suffered from the strongest shock,considering the impact of relative energy price to the efficiency of energy conservation and emissions reduction.After considering the role of the relevant operational indicator,inhibition of the efficiency of energy conservation and emissions reduction relative resulting from energy prices is offset in some parts,but electric power industry is still subject to improve the efficiency of working capital management.In nonmetal mineral products and chemical raw materials and chemical products manufacturing,synergistic effect of technical factors and relative energy prices still shows negative coefficient.At the same time,this paper puts forward the following Suggestions:(1)We need to actively promote reform of energy price mechanism.(2)energy price reform should be promoted with improving working capital management and technology standard.