Study On The Influence Of Government Subsidy On The Performance Of New Energy Listed Company

People's over exploitation,use and dependence of traditional resources causes the problems of global warming and environment deterioration.So adjusting structure of energy resources,developing new energy resource that is environmental protection and energy saving has naturally become a pressing matter of the moment among countries around the world.But the new energy industry is newly founded in our country,it is in need of financial aid of the government.Then,how much is the influence of government subsidy on the performance of the new energy listed company? This is a valuable questions deserving studying and analyzing.I take the new energy listed companies as the objects of study,use the balanced panel data,apply fixed effect model,analyze the effect of government subsidy on the performance of new energy listed company,and also investigate the regulating effect of internal corporate governance.After that I find the relevance of government subsidy and the performance of new energy listed company is obviously negative,even after separating out the variables of internal company governance like ownership concentration and executive pay.Meanwhile the coefficients of the variables of internal corporate governance are positive.It means internal corporate governance is able to decrease the negative influence of the government subsidy on the performance of new energy listed company.After classifying the companies in the sample and doing the regression analysis,I find that comparing to solar companies,the government subsidy in wind energy companies is more efficient in improving the performance of the company.In the end,basing on the result and conclusion of the empirical analysis,I put forward some political suggestions related to the development of new energy companies.I adopt the sum of the share holding proportion of the top three shareholders as the representative variable of ownership concentration,which is a distinguishing feature.By doing that,I supplement the researches done by predecessors,enrich the study materials of related problems,make my work have some practical significance.