An Empirical Study On The Impact Of Government Subsidies On The Comprehensive Performance Of New Energy Vehicle Enterprises

In recent years,China’s environmental pollution is serious,and the energy shortage is becoming increasingly prominent.Therefore,the development of new energy vehicle industry is a strategic measure to alleviate China’s environmental pollution.In recent years,the state has invested hundreds of billions of yuan in subsidies for the new energy vehicle industry.Therefore,this thesis studies the influencing factors of the overall comprehensive level of new energy vehicle enterprises under the government’s subsidy policy.In this thesis,in the research on the impact of government subsidies on the overall level of new energy vehicle enterprises,the overall level is expressed by enterprise comprehensive performance indicators.This comprehensive performance index uses the subjective analytic hierarchy process and objective entropy method to construct the evaluation index.The index selection is carried out after studying a large number of literature,which is mainly divided into three aspects: economic benefit,technical benefit and environmental benefit.After obtaining this enterprise comprehensive performance index,this thesis takes this as the explanatory variable,takes China’s new energy vehicle enterprises from 2011 to 2020 as the research sample,uses the multi-stage double difference method to empirically study the impact of the promotion subsidy policy on the comprehensive performance of China’s new energy vehicle enterprises,and analyzes the impact path.The main conclusions of this thesis are as follows: first,on the premise of controlling the five variables of industry scale,asset liability ratio,financial subsidy,enterprise age and enterprise nature,the promotion of subsidy policy can improve the comprehensive performance level of new energy vehicle enterprises.The promotion subsidy policy has a direct impact on the comprehensive performance of enterprises by directly affecting the profitability and solvency of enterprises in the short term.In the long term,it can have a positive impact on the comprehensive performance of enterprises by improving the financial and operating level of enterprises and increasing the purchase volume of consumers.Second,the promotion of subsidy policies will have a positive impact on the comprehensive performance level of enterprises on both consumers and producers.On the demand side of consumers,the promotion of subsidy policies promotes consumers’ purchase of new energy vehicles by directly stimulating consumers’ prices and indirectly improving consumers’ awareness of environmental protection,and finally promotes the growth of enterprises’ comprehensive performance.On the supply side of producers,the promotion of subsidy policies enables enterprises to improve the production of new energy vehicles by improving the core competitiveness of new energy vehicle enterprises and providing enterprises with a more stable financial environment,so as to finally achieve the result of promoting the growth of comprehensive performance of enterprises.