| With the release of the New Energy Vehicle Industry Development Plan,the electric vehicle industry has accelerated its pace of development in areas such as technological innovation,institutional design and infrastructure.During the 13th Five-Year Plan period,China’s new energy vehicle industry has achieved high-quality development,and its industrialization and market scale have reached the first place in the world.In the process of its vigorous development,the degree of technological innovation has become an important factor affecting the market share and financial performance of electric vehicle companies,and also directly affects the future trend of electric vehicle industry.Due to the late start,the product competitiveness of some electric automobile industry is weaker than that of foreign market,and some technology is subject to foreign automobile enterprises such as Tesla,it is urgent to promote the sound development of the industry through technological innovation.As the electric automobile manufacturing industry is in the middle of the industrial chain,its development plays a key role.Therefore,this paper selected 19 A-share listed electric vehicle manufacturing companies as the empirical research object to analyze and evaluate the impact of technological innovation on the financial performance of electric vehicle companies,which has important theoretical and practical significance.Firstly,according to the relevant theories,evaluation methods and their advantages and disadvantages of financial performance evaluation,we choose the objective data envelopment method which can compare the efficiency of different decision units for financial performance analysis.Secondly,the industrial chain of electric vehicles is defined.19 sample companies in the middle reaches of the industrial chain are selected according to the concept stocks of Flush website.The policy environment of the sample companies is analyzed.Thirdly,two technological innovation indicators and nine comprehensive financial performance indicators were selected to construct an empirical model of principal component analysis and data enveloping method,and the dimensions of comprehensive financial performance indicators were reduced to three principal components as output factors by PCA method.Finally,according to the relevant data from 2017 to 2021,BCC method in DEA is adopted to analyze the financial performance of electric vehicle manufacturing companies from the perspective of technological innovation.Based on DEA results,K-means clustering method is used to classify electric vehicle companies,and relevant targeted opinions are put forward.The results show that the impact of technology innovation on financial performance of Chinese electric vehicle companies is generally not optimal,and it is urgent to optimize the allocation and management of technology innovation input resources.With technological innovation as the research entry point,the research adheres to the development situation of the midstream industry of the electric vehicle industry chain,breaks through the constraints of traditional evaluation methods,and expands the research perspective.This paper comprehensively reviews the basic theory of financial performance,explores the role of technological innovation input on financial performance of midstream companies in the electric vehicle industry chain based on the data envelopment method,and provides objective and scientific reference ideas for optimizing technological innovation input and financial performance output of midstream companies in the electric vehicle industry chain. |
