Research On The Consistency Of Transformation Behavior Of Traditional Energy Enterprises From The Perspective Of Energy Revolution

With the deepening of ecological civilization,energy revolution and dual carbon goals,the transformation of traditional energy enterprises is becoming more and more urgent.Due to strategic path dependence and behavioural inertia,the transformation behaviour of traditional energy enterprises often exhibits a non-linear process.As the transformation of traditional energy enterprises has a strong function and role in social responsibility,financial risk mitigation and sustainable development,the actual transformation process often deviates from the original intention.As a result,maintaining the direction of transformation has important implications for China’s energy revolution.Based on the consistency perspective of the transformation of traditional energy companies,there are two main types of overall performance:declared transformational behaviour and actual transformational behaviour.Declared transformational behaviour refers to the information,attitudes and positions conveyed in public reports to transformational behaviour.Actual transformational behaviour refers to the various corporate behaviours related to the transformation that is reflected in regularly disclosed financial reports.How distinguish the consistency of these two types of behaviour and analysing the reasons behind them is of great significance for traditional energy companies to accelerate the process of the energy revolution.To address these issues,firstly,this paper systematically examines the connotations and paths of transformation of traditional energy enterprises,explaining the meaning and characteristics of declared and actual transformational behaviours.Secondly,it discusses the declared transformation behaviours and transformation attitudes of coal,oil,gas and thermal power companies respectively,using the Grounded theory and case study method.Again,a financial report-based transformation measurement index system is constructed,and the entropy weighting method is applied to measure the actual transformation behaviour of traditional energy companies from 2012 to 2020.Finally,the consistency between the declared and actual transformation behaviour of traditional energy companies was compared.The findings of the study are:(1)The results of the declared transformation behaviour study show that coal,oil and thermal power companies indicate that they will actively support industrial optimisation,international cooperation,technological innovation and low carbon development.Natural gas companies indicated that they would actively support industrial optimisation,science and technology innovation and low carbon development.(2)The results of the study on actual transformation behaviour show that the overall measurement score of traditional energy enterprises’ actual transformation behaviour increased from 0.2327 in 2012 to 0.7512 in 2020,and the transformation grade gradually increased from Grade 1 to Grade 4.(3)A comparison of the consistency of the two types of transformation behaviour shows that the reasons for inconsistency among coal companies include considerable coal prices,increased investment risks and a single transformation path;the reasons for inconsistency among oil companies include insufficient crude oil production and the existence of investment barriers;the reasons for basic consistency among natural gas companies include policy support and clean energy advantages;the reasons for consistency among thermal power companies include renewable energy Adequate reserves and a prominent role in underpinning supply protection.