Research On The Impact Of Government Subsidies On Total Factor Productivity Of New Energy Automobile Enterprises

At present,China’s economy is developing rapidly,the living standards of its inhabitants are improving,and energy demand is increasing significantly.As a traditional energy consumer with coal and oil as its main fuel,China has changed from an oil exporter to an oil importer since 1993,and in 2007 became the world’s largest carbon emitter.rice field.The development of the new energy automobile industry can accelerate the transformation of China’s energy consumption structure and alleviate the contradiction between economic development and ecological environment.At the same time,China attaches great importance to the development of the new energy automobile industry,which is one of Japan’s strategic emerging industries.To this end,the Chinese government has developed a number of subsidy policies to promote the development of the industry.In the development of the new energy automobile industry,the government has invested enormous human,physical and financial resources,so it is very important to study the impact of government subsidies.Increased total factor productivity is an important foundation for governments to develop long-term sustainable growth policies.This paper explores whether and how it will affect the total factor productivity improvement of the new energy automobile industry under the stimulus of strong government subsidies.This paper first reviews and summarizes two types of past literature related to new energy automobile subsidy policies and the impact of government subsidies on the total factor productivity of enterprises.Then,we will introduce the current state of development of the new energy automobile industry and classify subsidy policies.Next,we will sort out the relevant theoretical mechanism that government subsidies affect the total factor productivity of new energy automobile companies,and government subsidies will have a restraining effect on the TFP of new energy automobile companies.I propose the hypothesis.The data calculates the total factor productivity of the company according to the ACF method,building a theoretical model based on the experience of its predecessor,and uses the empirical method to explore the relationship between TFP and government subsidies among new energy automobile companies.Finally,conclusions are successfully drawn through analysis.This thesis draws the following conclusions through research.(1)Government subsidies will have a significant restraining effect on the total factor productivity of new energy automobile companies.Government subsidies cannot bring about an increase in total factor productivity,but they significantly reduce the total factor productivity of manufacturers.However,the production capacity of new energy automobile companies has sufficient inertia.The optimization of production efficiency in the previous term will bring about a demonstration effect in the next term and continue the flow of companies.Production is on the way.A high asset-debt ratio means that the company may be in a period of increased production,which helps to improve the total factor productivity of the company.The larger company is,the more advantageous the scale effect of production will be and the higher TFP will be brought.Profitability promotes a company’s willingness to produce,improves production efficiency,and thus improves the total factor productivity of the company.Total factor productivity is reduced due to the high funding constraints of companies and the lack of funding that should be available for production.(2)The impact of government subsidies on the total factor productivity of new energy automobile companies is highly heterogeneous.The restraining effect of government subsidies on the total factor productivity of new energy automobile companies is far stronger for state-owned enterprises than for non-stateowned enterprises.The restraining effect of government subsidies on the total factor productivity of eastern enterprises is significantly lower than that of central and western enterprises.If a company’s scientific research level is relatively high compared to other companies,the impact of government subsidies on companies with high R & D concentration is positive because of high production efficiency,but R & D concentration is medium and Companies that are still restrained if low;the higher the funding constraints of a company,the less investment opportunities social investors have and the more difficult it is to grow.Therefore,government subsidies are more restrained for companies with high funding constraints,but not for companies with low funding constraints.