The Impact Of Anti-dumping Investigation On The Performance Of China's PV Industry Listed Companies

In recent years,as a trade remedy measure,anti-dumping not only has a serious impact on the export of Chinese enterprises,but also has brought significant harm on the export enterprises'performance.Depth analysis of the impact of anti-dumping on business performance and its mechanism of occurrence of China's enterprises involved in the plight of anti-dumping is of great significance.Based on the stock market value and micro-financial data of listed companies in PV industry,this paper studies the impact effect of anti-dumping investigation on the rate of return on listed companies,and investigates the short-term impact of anti-dumping filing on stock price.This paper analyzes the changes of financial capacity of listed companies before and after the anti-dumping investigation and examines the long-term impact of anti-dumping on the performance of PV industry.The results show that in the short term,the anti-dumping investigation and investigation of the listed companies in China's PV industry listed companies can not cause substantial negative impact,and the temporary negative impact does not exist industrial value chain,market,location and other significant differences;But in the long term,the results show that the anti-dumping investigation has a greater impact on the listed companies in China and the middle reaches of the PV industry.The financial performance of the upstream enterprises has dropped by 200.14%on average.The financial performance of the middle reaches has dropped by 85.48%on average,while the downstream enterprises are not affected,the financial performance has increased by 331.54%.The future has a certain development prospect.The structure of this paper is as follows:Firstly,the basic situation of PV industry and the development history of PV industry in China are briefly summarized,and the anti-dumping cases of PV products in China are reviewed.Secondly,based on the historical stock data of 102 PV industry listed companies,Through the event study method,the market income model is used to calculate the cumulative excess return rate of the listed companies in the US anti-dumping investigation case,and measure the overall impact of the US anti-dumping investigation on the stock price of China's PV industry listed companies and analyze whether this effect is The paper analyzes the financial performance and performance of the listed companies before and after the anti-dumping investigation through the factor analysis method,and then analyzes the financial performance and performance of the listed companies before and after the anti-dumping investigation,and then analyzes the financial performance and performance of the listed companies before and after the anti-dumping investigation.Finally,based on the conclusion of the study,the corresponding policy suggestions are put forward from the angle of industry association,government,PV enterprises and market investors.The paper puts forward some suggestions on how to evaluate the financial performance and capacity of listed companies in China.