A Study On Financing Efficiency For The Listed Companies In New Energy Industry

New energy industry is one of China’s strategic emerging industries. The new energy industry group is an important listed resource for main board, small board and the GEM, and it makes it clear that the quoted companies are going to be the backbone of China’s energy economy and play a crucial role in the progress of social sustainable development. In recent years, the development momentum of China’s new energy industry is good, the scale expands unceasingly, the function for optimized economic structure is highlighted, and the development prospect is broad.This thesis starts from enterprise, taking quoted companies in new energy industry as research object, at the base of input and output theory, financing theory, trade-off theory and efficiency theory, using mathematics economics and operations research knowledge, through the methods of demonstration analyses and criterion analyses, qualitative analyses and quantitative analyses and comparison, studies financial efficiency of China’s quoted companies in new energy industry from theory and demonstration. Firstly, at the base of every view point, it makes sure the critical concept of financing efficiency in the paper; Secondly, base on the nature, characteristic and development laws of quoted company in the new energy industry, I build up and research the 5 main factors that effect on financing efficiency, included financing cost and financing income, financing scale and structure, freedom of financing subject and standard of financing mechanism, financing stability and availability of financing channels, financing risk and solvency. Meanwhile, four evaluation indexs are looked as the critical elements for empirical study which constructs the frame to analyze new energy quoted companies on financing efficiency. Thirdly, by a mass of data comparison, gets the results of capital mechanism and financing status for new energy enterprises. Forth, at the above theory analysis, uses DEA method to measure and evaluate the financing efficiency of China’s quoted company in new energy industry. Fifth, based on the fact that financing stability has the dominating influence of financing efficiency. I construct financing stability index, then income data are substituted into the maximum entropy weight model through the gray correlation coefficient matrix analysis, then achieve the stability index weight for financial efficiency of listed companies in new energy industry based on the particle swarm optimization algorithm.Conclusion:listed Company has a lot of potential to increase the financing efficiency. We could take actions to increase the financing efficiency according to he stability index weight.