Empirical Analysis On The Growth Ability Of Listed Companies In New Energy Industry

In recent years,the global new energy has developed rapidly,technologically more and more mature,and economically it has also been gradually accepted by people.According to experts,by 2050,the proportion of solar energy,wind energy and hydropower in the world energy structure will reach 50%.As can be seen,the 21st century is a century of large-scale development and utilization of new energy sources.At the same time,vigorously exploiting and utilizing new energy sources is also one of the important strategic measures for optimizing the energy structure,improving the ecological environment and promoting the sustainable economic and social development of our country.Therefore,the development of new energy receives great attention from the state.However,as a listed company in the new energy industry,this is an important driving force for the development of the new energy industry and how their growth ability will directly affect the development of the entire new energy industry and the energy status of the entire country.In this context,it is extremely important to study the growth capability of the new energy industry.However,there are relatively few studies on the growth ability of listed companies in the new energy industry,the evaluation indicators are not unified and have not formed a complete analysis and evaluation system.Some scholars have constructed evaluation systems that are out of step with the strategic goals of listed companies.Strategic goals can not be translated into specific indicators that are understandable and easy to operate.They also lack attention to the ability of innovation and future growth of listed companies in the new energy industry,reducing the usefulness and forecasting value of accounting information to a certain extent.Therefore,how to scientifically evaluate the growth ability of listed companies in the new energy industry has become an important issue urgently needed to be studied and solved.Based on this,this paper,based on the relevant theory,takes the new energy industry listed companies in CSI in the database as a sample to conduct a special study on the growth ability of listed companies in the new energy industry.Based on the analysis of the existing research results about the company’s growth abilities at home and abroad,this paper establishes a set of relevant indexes through analyzing the influencing factors of the growth abilities,and establishes the evaluation index system of the growth ability of the listed companies in the new energy industry.By factor analysis For the evaluation model,we select the data of 136 annual reports of listed companies in new energy industry for the sample empirical analysis,respectively,the factors that affect the growth of the main factors of the single factor ranking and based on comprehensive ranking of the model score,which targeted Proposed countermeasures and suggestions.This article starts with the theoretical research on the growth of enterprises,explains some concepts related to the growth of the enterprises,introduces the research results about the growth of listed companies both at home and abroad,and the evaluation methods of the growth ability,and studies the evaluation methods suitable for listed companies in the new energy industry.Secondly,this paper analyzes the development of new energy industry and the basic situation of listed companies in new energy industry,and identifies 136 wind energy,solar,hydropower,geothermal,nuclear and new light sources as 136 listed companies of new energy type,sample.At last,the index system of growth capability composed of financial index and non-financial index is established,which includes three major categories and eight small indexes and two small non-financial indexes,and 10 indexes to construct the growth ability evaluation model.This paper selects 136 listed companies in new energy industry growth ability of empirical research,access to these 136 listed companies from 2014 to 2016 three years of evaluation index data processing,the use of factor analysis,extracted four main components,reflecting the business And through its linear combination of the new energy industry listed companies made an overall assessment of the growth and various types of new energy industry listed companies a comparative analysis of growth.Empirical results show that:Overall,out of 136 enterprises listed in the new energy industry,100 have a score of above 0 in growth ability,accounting for more than 74%of the total sample.Therefore,the growth of Chinese listed companies in the entire new energy industry is relatively good.Listed companies from the new energy industry point of view,geothermal listed companies have the highest growth potential,followed by wind energy listed companies,the third new light source listed companies,listed fourth water companies and fifth solar listed companies,the growth is the worst Nuclear energy companies listed.Combined with the empirical analysis of the results of the analysis,this article from the government point of view of the new energy industry listed companies to improve the growth capacity of the proposed reference.