Research On Financing Efficiency Of China 's Energy Saving And Environmental Protection Industry Listed Companies

Energy conservation and environmental protection industry is emerging industry, hasthe obvious advantage of energy. Party’s16session of fifth plenary session of the resourceconservation as a basic national policy of our country, the period of "11th five-year plan"period, under the policy support, the rapid development of energy conservation andenvironmental protection industry, the average annual growth rate higher than15%.Outputvalue of more than1trillion yuan, in2010, the industry growth rate is as high as14%, hasbeen clear about the priority to energy saving and environmental protection industry of thestrategic status of the new energy industry；"Twelfth five-year" period, China’senvironmental situation is still the larger challenge, which provides a new opportunity tothe energy conservation and environmental protection industry in our country and the newrequirements. By2020, energy conservation and environmental protection industry inChina is expected to become a pillar industry of our country.More expected over the next20years, China’s energy conservation and environmental protection industry growth isexpected to reach15%to20%. Energy conservation and environmental protection industryhas the incomparable advantage policy, and other industry more public attention. Thus,energy conservation and environmental protection sector has huge development potential,thus makes the energy conservation and environmental protection industry listed companygrowth ability is better than that of other industries.Energy conservation and environmental protection sector stocks mainly focus onproducing the dust sulfur removal equipment of environmental protection equipment, waterpurification equipment, and the listed company engaged in air pollution treatment. Afterfinishing the financing theory about energy saving and environmental protection industry athome and abroad, on the basis of part carries on the analysis of the efficiency of financing,the current situation of financing of energy conservation and environmental protectionindustry in China as well as preferential policies from the government, following theobjectivity, importance and comprehensiveness, the principle of comparability, thefeasibility and availability of the selected can embody the financing efficiency of energyconservation and environmental protection industry, the factors that affect the financingefficiency of the industry listed companies is analyzed, then build the evaluation indexsystem of the financing efficiency of energy conservation and environmental protection industry in our country.This article in the Shanghai and Shenzhen two city, the screening of energyconservation and environmental protection plate40listed companies, the entropy valuemethod is used to calculate the40listed companies of entropy weight, efficiency scoreformula to calculate the comprehensive efficiency of40companies score, and according tothe synthetical score sort, according to industry average score gets the energy conservationand environmental protection industry as a whole the conclusion of the financing efficiencyis not high；The main influence of the efficiency of the listed company and financingefficiency scores were analyzed, demonstrated in this paper, the main indicators thatinfluence efficiency of financing and financing efficiency has significant correlation;Combined with the analysis of the index system of the conclusion above, put forward toimprove the financing efficiency of energy conservation and environmental protectionindustry in China countermeasures and Suggestions, aims to put forward financing energyconservation and environmental protection industry in China, in what aspects should beimproved in the process of how to effectively use all kinds of preferential policies,eventually improve the financing efficiency of the energy conservation and environmentalprotection industry in China.