Research On The Performance Of The Environmental Protection Listed Companies Before And After PPP Development

China’s economy has been developing steadily.To meet the different needs of people,the number of various public projects in different regions of China is increasing.At the same time,under the national "One Belt One Road" initiative,China’s overseas construction projects have also continued to increase.From infrastructure construction to environmental protection,from domestic to foreign countries,various kinds of public projects have great demands in terms of financing.Faced with the government’s funding gap and the lack of project management and operation,public-private partnership(PPP)has become an indispensable mode of cooperation.On September 23,2014,the "Notice on Promoting the Use of Public-private Partnership" issued by the Ministry of Finance became the government’s initial mobilization of PPP.Afterwards,with the advancement of the country’s PPP model and the advantages and characteristics of the model itself,more and more public projects in China are facing the public with the PPP financing model.With environmental protection playing a more and more important role in people’s livelihood and even the national economy,the PPP model has gradually become a win-win choice for environmental protection projects.The large number and variety of PPP projects make PPP projects take on a more important role in project operations and risk sharing.Studies on the private sector of PPP model has greater practical significance.The private sector involved in environmental protection PPP projects is faced with the huge financial needs of PPP projects and the rapid growth of business.The impact of these PPP models on their performance cannot be directly judged.This article takes the performance of environmental protection listed companies under the influence of PPP as the research object to evaluate their performance and give specific recommendations.This article first summarizes a large number of literature,analyzes the impact of the PPP model on the private sector,conducts research on the performance evaluation of listed companies,and classifies the application of the DEA model.Second,the characteristics of comprehensive environmental protection listed companies,through the establishment of DEA model,the establishment of input indicators and output indicators system,construction of a performance evaluation model for environmental protection listed companies before and after PPP promotion based on DEA method.This study takes 41 environmental protection companies in the PPP concept stock as examples.Based on the 2013-2016 financial statements as the basis of the actual data,the data collected from the listed companies were empirically analyzed through the application of the method established in this study,and the companies with different main operations were further analyzed.The empirical results show that the performance of environmental protection listed companies experienced a downward trend before and after the promotion of PPP in 2014.During this period of time,the performance of environmental protection listed companies in water projects is more stable than that of solid waste enterprises,and their performance is better.Finally,this paper puts forward the relevant proposals for China’s environmental protection enterprises given the promotion of the PPP model.