Research On Financial Performance Evaluation And Influencing Factors Of A Power Generation Enterprise

Exploring the financial performance evaluation of electric power enterprises and its influencing factors is an important tool to ensure the demand for electricity for economic and social development and the successful realization of the “double carbon” goal.Since the reform and opening up,China’s economy has relied on investment,export and consumption to create the “Chinese economic development miracle”,of which Chinese power generation enterprises have made great contributions to economic development,accompanied by China’s growing demand for electricity and relatively serious environmental pollution,thus limiting the sustainable development of China’s economy.In addition,the “double carbon” target of 2021 has been written into the national development plan,which has put forward new development requirements for the power industry with its high pollution and high emission nature to balance economic development and environmental protection.As a large power generation enterprise in China,A power generation enterprise is conducive to guiding enterprises to better allocate factor resources and improve their comprehensive ability through the study of enterprise financial performance evaluation and its influencing factors,so as to ensure enterprise economic performance and sustainable economic and social development.Based on the in-depth analysis of the connotation of enterprise financial performance and the actual situation of A power generation enterprise,based on the 82 time series quarterly data of A power generation enterprise from 2002 to 2022,this paper constructs the financial performance index evaluation system of A power generation enterprise from three aspects of solvency,operation ability and profitability,and uses the time-space range entropy weight method to measure the financial performance of the enterprise.Firstly,this paper introduces the specific situation of A power generation enterprise,and uses PEST analysis method to analyze the macro environment of the enterprise,and combs and analyzes the environmental situation,development status and future development direction of the power generation industry.Secondly,this paper analyzes the financial performance of A power generation enterprises and the development level of each dimension in detail from the perspective of time,and then selects representative and comparable enterprises in the power generation,steel,cement and energy industries to compare and analyze the financial performance of A power generation enterprises.Finally,from the enterprise technology innovation(RD),financing level(LEV),financing constraints(SA),investment level(INV),senior management team gender(MGEND),senior management team age(MAGE),financial risk(FR)seven aspects of A power generation enterprise financial performance analysis of the influencing factors.On the basis of case analysis and empirical results,the financial performance development of A power generation enterprise and its influence path and effect are obtained.Based on the analysis results,combined with China’s actual national conditions and enterprise status,this paper provides countermeasures and suggestions for promoting the financial performance development of A power generation enterprise.The results show that the financial performance of A power generation enterprise shows a fluctuating upward trend.The development level of corporate solvency is generally in a ‘U’ shape;the development level of enterprise profitability is relatively stable,and the fluctuation is not large;the overall operating capacity of enterprises shows a fluctuating upward trend.The change trend of solvency and operating capacity of enterprises is larger,while the development level of profitability of enterprises is relatively stable.The overall financial performance of the power generation enterprises selected in this paper has developed well,and there is no polarization phenomenon.The financial performance of A power generation enterprises is at the middle level in the selected power generation enterprises.the overall financial performance of iron and steel enterprises is volatile and polarized.The financial performance of A power generation enterprise is lower than that of the selected iron and steel enterprises,but the development of financial performance is relatively stable compared with that of iron and steel enterprises.The overall financial performance of the cement enterprise is also volatile,and there is no polarization.The financial performance of A power generation enterprise is lower than that of the selected steel enterprise,but the future development momentum of A power generation enterprise is better.The overall financial performance of energy enterprises shows a downward trend,and there is no polarization phenomenon.The average financial performance in the past three years is better than that of energy enterprises.From the results of empirical analysis,enterprise technology innovation(RD),financing level(LEV),financing constraints(SA),investment level(INV),senior management team gender(MGEND),senior management team age(MAGE),financial risk(FR)have different effects on the financial performance of A power generation enterprises.At present,technological innovation(RD),financing level(LEV),financing constraints(SA),investment level(INV),gender of top management team(MGEND)and financial risk(FR)play a positive role in promoting the financial performance of A power generation enterprise,while there is a negative correlation between the age of top management team(MAGE)and the financial performance of A power generation enterprise.