Research On Financing Efficiency And Influencing Factors Of New Energy Vehicle Industry ——A Case Of SAIC

The new energy vehicle industry is in the cusp of the travel industry,and the financing behavior of the new energy vehicle manufacturing enterprises often occurs.Based on the particularity of the new energy vehicle industry,a strong financing ability is the prerequisite for an enterprise to gain a firm foothold in the industry.In order to improve the financing capacity of enterprises,this paper studies the factors affecting the financing efficiency.This paper takes SAIC as the research object and makes a detailed comparative analysis of saic from the aspects of financing risk,financing scale,financing cost and four capabilities in combination with the characteristics of China’s new energy vehicle manufacturing industry.At the same time,DEA data enveloping analysis was used to conduct an objective and in-depth horizontal and vertical comparison of financing efficiency between SAIC and its similar sample enterprises engaged in new energy vehicle manufacturing from the perspectives of static and dynamic respectively during 2016-2020.It can comprehensively reflect the factors influencing the financing efficiency of SAIC and the industry in these five years.The results show that:（1）In the five years from 2016 to 2020,the financing efficiency of SAIC group in the whole similar sample enterprises is medium,mainly due to the low technical efficiency;（2）In the past five years,the overall pure technical efficiency of listed automobile enterprises engaged in the manufacturing of new energy vehicles has not been effective,indicating that there is still a lot of room for improvement in the efficiency of automobile technology financing of the leading automobile enterprises engaged in this industry in China.The research innovation of this paper has enriched the research Angle of financing efficiency.The growth rate of intangible assets combined with r＆d input is adopted as the output index to measure the technological innovation ability of enterprises.It is found that compared with similar enterprises,SAIC Group has the highest total R＆D expenditure,but the capitalization rate is low.Thus,it provides reference significance for SAIC to improve in this aspect.