The Influence Of Government Subsidy On The Growth Of The Photovoltaic Enterprises

The photovoltaic industry as a strategic emerging industry,in the development of more than and 20 years,won the support of the government,has made remarkable achievements.However,with the development of photovoltaic industry is increasingly mature,there are many problems in the industrial development.As a government policy driven industry,the role of the government's role in the development of industry is very important,so it is necessary to study the impact of government intervention on the photovoltaic industry.The life cycle of the industry from the perspective of each industry development in different periods,the growth of the enterprise is not isolated,it is bound by the stage of development of the industry,social economic resources and the change of government intervention and other factors.In these different stages of development,characteristics and development needs of the industry are different,so the government intervention should be different,and government subsidies are playing "helping hand" the most direct means,therefore,the industrial life cycle stage government subsidy of different effects on the growth of enterprises.This paper selects 55 companies listed companies during 2007 to 2015 as a sample,using the research methods of combining normative research and empirical research,firstly,from the theoretical analysis of financial subsidies,tax incentives and other government subsidies of the influence on the growth of enterprises,and then consider the industry life cycle of the influence of the difference in the life cycle the photovoltaic industry into three stages: the start-up period,growth period and maturity period.Then the financial subsidies and tax incentives as the key factors affecting the growth of PV enterprises through empirical test,13 financial indicators and to represent the enterprise profit ability,operation ability,solvency and development capacity index growth evaluation system to measure the photovoltaic business.The empirical part mainly discusses two aspects,the first is government subsidies this study on the growth of the photovoltaic effect is positive or negative,second are in different stages of the industry life cycle,the effects of two kinds of government subsidies to the growth of the photovoltaic enterprises whether there is any difference and difference.Through theoretical and empirical analysis the following conclusions: in the photovoltaic industry in the three stages of the development of financial subsidies and tax preference and enterprise growth has a significant positive correlation,indicating the photovoltaic industry in the development of the start-up period,growth period and mature period,financial subsidies and tax incentives greater growth enterprises the better;in the start-up period and the growth period,thefiscal subsidy is greater than the impact of tax incentives on the growth of photovoltaic enterprises,in the start-up and growth stage of development of photovoltaic industry,the government should mainly through increasing financial subsidies into the way to promote the development of photovoltaic enterprises;in the mature period,the preferential tax is greater than the effects of subsidies on the growth of photovoltaic enterprises,in the mature period of the development of photovoltaic industry,the government should pay more attention to indirect means,through tax incentives to promote photovoltaic enterprises Industry growth.Therefore,countries in the development of photovoltaic industry support policies,not only attach importance to financial subsidies and tax incentives,increase financial subsidies and preferential tax policy support,also need to consider the cycle of the industry development,in different industry life cycle,government subsidies policy more suitable to promote the development of the industry.