| In order to achieve high-quality economic development in China,the new energy industry has played an irreplaceable role.At present,China’s traditional energy is decreasing and environmental problems are becoming more and more serious,which requires China to adjust the energy structure.Therefore the emerging clean energy is favored by the market and the new energy industry has developed rapidly.However,due to the short development time of China’s new energy industry,it is currently in the initial stage of development and the industry has the characteristics of large capital demand,high investment risk,and long investment return cycle,which makes social capital cautious about investing in the new energy industry,and it is difficult to alleviate the financing constraints faced by enterprises in the industry simply by relying on bank credit.Many listed companies in the new energy industry combine the industry with the financial industry to obtain funds at a lower cost and make full use of funds.However,the question of whether entity enterprises can improve the financing efficiency after the combination of industry and finance has yet to be studied.In this context,firstly,I reads and sorts out the the relevant literature and summarized its impact path on financing efficiency.Secondly,I analyzed the current situation of the combination of industrial capital and financial capital and the company’s access to funds,a case company in this thesis,calculates the combination rate of industry and Finance of BAOLIHUA new energy,and then measures its financing efficiency based on SBM model.On this basis,this thesis discusses the impact of the combination of industry and Finance on financing efficiency through regression model,and analyzes the financing cost,financing risk and financing convenience to affect the role of financing efficiency in this process.Finally,some countermeasures are put forward and existing problems faced by BAOLIHUA new energy in the process of industry finance combination,and how to improve the financing efficiency of BAOLIHUA new energy through industry finance combination.The main research conclusions are as follows: firstly,the industry finance combination rate of BAOLIHUA new energy,a case company,is at a high level in the industry,but there are also problems such insufficient financial professionals;Secondly,in terms of the financing situation of BAOLIHUA new energy,indirect financing is the most important financing mode,in which bank credit accounts for a relatively high proportion;Thirdly,the combination of industry and finance has significantly improved the financing efficiency of BAOLIHUA new energy;Finally,the degree of financing convenience and financing risk play a role in the process of the combination of industry and finance affecting the financing efficiency,while the financing cost has no significant impact on the financing efficiency. |
