The Tmpact Of Government Subsidies On Investment Behavior Of Changan Automobile

In the past decade,due to the shortage of oil resources,climate warming and frequent haze,the energy crisis is increasing day by day,and the environmental problems are becoming more and more serious.As a result,the demand for new energy vehicle industry development in China’s automobile industry is also rising.By2018,driven by various government subsidy policies,the total number of new energy vehicles in China is close to 3 million.Whether it is financial allocation and discount,tax return or free allocation of non monetary assets,it has become an efficient way for the state to support enterprises in the development of new energy industry.However,will this large-scale subsidy have a substantial impact on the investment behavior of enterprises,such as investment structure,scope and objectives? What is the timeliness of this effect? In the short run,the support of government subsidy policy is naturally an important factor to promote the development of the industry.It is classified as "non operating income" in the financial statements of enterprises,which affects the financial performance of enterprises.But in the long run,do enterprises have a series of over investment behaviors due to over dependence? In addition,with the implementation of government subsidies,a large number of new energy vehicle enterprises "cheat compensation" phenomenon,whether it will do more harm than good for the future development of enterprises?This paper first expounds the background and significance of the relevant research,reviews the domestic and foreign scholars’ research methods,ideas and research contents on government subsidies and enterprise investment behavior,and expounds the motivation of the implementation of government subsidies and the factors affecting enterprise investment.Then it introduces the relevant concepts and theories,defines and expounds the main concepts of government subsidies and enterprise investment behavior in the new energy automobile industry,and finds that the promotion of national environmental protection policy,the close relationship between government performance and enterprise performance,and the good cooperative relationship between enterprises and local governments become the motivation for enterprises to obtain government subsidies in the macro environment,which is the reference for the following Writing provides a theoretical basis.Secondly,combined with the case analysis of Changan Automobile Company which is representative in the development of new energy automobile industry,this paper introduces the basic situation of Changan Automobile Company and the motivation,scale and way of obtaining government subsidies,and specifically analyzes the investment in fixed assets,intangible assets and equity changes of Changan Automobile Company after the implementation of industry related government subsidy policies The impact on the company’s structure;the impact on the company’s investment scope such as horizontal,vertical and global expansion;and the impact on the company’s new product R & D,medium-term strategic transformation and future investment goals in the early stage of receiving subsidies.Finally,combining qualitative and normative analysis methods,through the analysis of the investment effect of Changan Automobile Company after receiving a large amount of government subsidies,this paper summarizes the impact of government subsidies on enterprise investment behavior.In the short run,government subsidies are helpful for enterprises to adjust and optimize the investment structure and expand the scope of investment.However,with the increasing dependence of enterprises,it is very easy to cause excessive investment and extreme subsidies.If enterprises want to establish advantages and obtain long-term effective government subsidies,they should devote themselves to the research and development of related projects to strive for opportunities,and formulate reasonable project investment plans and implement long-term capital supervision mechanism.No matter from the theoretical level or practical significance,from the perspective of the impact of government subsidies on the investment behavior of enterprises,it provides reference and reference value for the reasonable and effective acquisition and use of subsidies for efficient investment and long-term development of enterprises.