Analysis On Investment Efficiency And Factors Of Chinese New Energy Listed Companies

The company’s investment decisions and the efficiency of investment decisions the increase of the fundamental value of the company, the ability to maximize the value of company directly depends on whether investment behavior is efficient. However, China’s listed companies mostly pay attention to the financing process, and over-investment and under-investment non-efficient investment situation is serious, it has become a important factor of constraining corporate performance, quality improvement, and the sustained and healthy development of the companies. Therefore, the study of investment efficiency of the listed companies in new energy sector is of great importance.With the deepening of environmental pollution and more attention to the environment and resources of the world, traditional energy industry is gradually being replaced by new energy industry, new energy industry is increasingly becoming the focus of attention. The listed companies in China’s new energy sector, as the leader of energy industry, is the focus of the study.In this paper, it uses a combination of static and dynamic analysis, qualitative and quantitative analysis, a combination of theory and empirical analysis methods. It applies the factor analysis to study the efficiency of investment based on the collection and statistical data.Article is divided into four parts, Chapter 0 review significance on the background of major domestic and foreign researches, research content and research methods and innovations are introduced; Chapter 1 describes the concepts and literature review; Chapter 2 analyzes the China’s new energy sector investment in listed companies and investment efficiency of the situation, and the listed companies to invest in new energy sector efficiency measure. First, select a model from the basic model BCC as the DEA analysis model. Then, the establishment of evaluation index system select five input indicators from the perspective of capital and labor inputs, weighted ROE, EPS and the main business income of output indicators. Then, screened 23 listed companies in the new energy sector sample data, perform calculations using DEAP software analyzed the efficiency of investment, and at the same time from both horizontal and vertical angles of the new energy sector to be listed on the company’s overall situation analysis of calculation results; Chapter 3 summarizes the analysis of the factors influencing the new energy sector investment efficiency of listed companies, including the company’s internal cash flow, corporate governance characteristics, company size and age. By influencing factors Tobit regression analysis concluded; Chapter 4 proposes to improve our listed companies to invest in new energy sector efficiency proposals and future prospects.