The Analysis On Investment Value Of The Listed Companies In Energy Conservation And Environment Protection Industry Based On Financial Perspective

Our national economy has been developping rapidly since the reforming and opening-up, with the accelerating process of urbanization and marketization. But this extensive mode of development of the only GDP theory not only brings a variety of environment problems, but also increases the consumption of resources and energy seriously. In order to improve the quality of environment, save energy resources, and realize the sustainable development better, energy conservation and environmental protection industry has begun to attract the attention and recognition of the state and government, its status is also rising. The development of energy conservation and environmental protection industry can not only improve our living environment, but also largely promote the development of China’s economy. Based on this background, more and more investors are turning to energy conservation and environmental protection industry. In order to provide strategy and basis for investors to minimize the investment risk, study the investment value of energy conservation and environmental protection industry is particularly important.Firstly, this paper discusses the problem of the background and significance, and reviews the investment value of the relevant research literature at home and abroad, which provides good experiences and methods for the study. Secondly, this paper makes an overview of energy conservation and environmental protection industry, including its concept, definition, development process, present situation, industry characteristics and position, and so on. Then choose 14 financial indexes and select the six key segments of 77 listing companies from the 178 energy conservation and environmental protection industry in the listed company as a sample data. By using factor analysis method, we can obtain the comprehensive score and ranking of each listing company. Finally, based on the five main factors as independent variables, we can establish Logistic regression model and analysis the investment value objectively and effectively.The empirical results show:The five main factors through the factor analysis are effective, which can explain most of the information of the original variables. And through Logistic regression, we can see that profitability, solvency and growth ability are more significant to the company’s investment, while operating capacity and cash flow the two factors are not significant. Based on this model can simplify the evaluation process of investment value, providing a simple and effective method for investors and reducing the investment risk.