The Determinants And Influence Of Star-up Size Of Firms In Photovoltaic Industry In China

In recent years,environmental pollution has attracted more and more attention from all walks of life.Large-scale fossil fuel combustion has been unable to meet the development requirements of China's low-carbon economy.The 19th national congress of the communist party of China systematically elaborated and comprehensively deployed the building of a beautiful China and green development,and renewable energy represented by the photovoltaic industry became the focus of green development.First,photovoltaic industry is an important strategic choice for governments around the world to cope with environmental crisis and energy security issues.Second,the application and promotion of the photovoltaic industry has become a new economic growth point in China.Whether the photovoltaic industry can be effectively developed and utilized and take advantage of the photovoltaic industry has become a decisive factor in the competition among future economies.In recent years,the photovoltaic industry has achieved rapid growth,but there are also some problems,such as excess capacity,industrial fluctuations,in the face of foreign "double negative" policies,resulting in the development of the photovoltaic industry is difficult,and even some photovoltaic enterprises went bankrupt.The development of photovoltaic industry has attracted the attention of all sectors of society.Domestic and foreign researches on photovoltaic industry mainly focus on industrial laws,effects of industrial policies,trade frictions,etc.,as well as studies on enterprise scale and enterprise growth,etc.This paper focuses on the initial scale of photovoltaic industry enterprises.In the development of the photovoltaic industry,the initial scale of the enterprise is crucial.It shapes the state of industrial competition and market structure,and is the premise and foundation for the survival,growth and expansion of the enterprise.Therefore,it is necessary to conduct in-depth research on the initial scale.This paper focuses on the initial scale of photovoltaic industry enterprises.From the perspective of the initial scale of enterprises,this paper applies the data of 328 photovoltaic enterprises from 2003 to 2014,studies the determinants of the initial scale of photovoltaic industry enterprises,and the impact of the initial scale of enterprises on the growth and performance of enterprises,draws conclusions and puts forward relevant policy enlightenment.The thesis mainly discusses from the following five parts:the introduction of the first part mainly summarizes the research background,significance,methods,ideas and innovation points,and sorts out the literature from the five aspects of enterprise scale,initial scale,enterprise growth,enterprise performance and relevant research of photovoltaic industry;The second part describes the fact of the initial scale of photovoltaic industry enterprises,and makes a more detailed description according to the enterprise ownership,upstream and downstream sub-industries,and the timing of enterprises entering the market.It is concluded that the initial scale of state-owned enterprises,battery components and other downstream industries and enterprises entering the recession are relatively larger.The third part establishes the multiple regression model,USES the least square method and the quantile regression method to carry on the regression to the enterprise initial scale determinants:the minimum effective scale,the sub-optimal scale,the industrial scale,the industrial growth,the industrial disturbance,whether has the government subsidy,the enterprise ownership,the GDP growth rate,and obtains the empirical result.The fourth part takes the initial scale as the core explanatory variable,respectively takes the enterprise growth and enterprise performance as the explained variables,establishes the multiple regression model,and obtains the empirical results.The fifth part summarizes the conclusions of this paper and puts forward some policy implications.This paper finds that,firstly,the initial scale of photovoltaic industry enterprises is significantly affected by industrial characteristics,and the minimum effective scale,sub-optimal scale,industrial growth and industrial disturbance all significantly affect the initial scale of enterprises.At the same time,it is also affected by the enterprise level,such as whether there are government subsidies and types of ownership.Second,the initial scale of photovoltaic industry enterprises has a significant negative impact on the growth of enterprises.In other words,the larger the initial scale of enterprises,the slower the growth of enterprises.Third,the initial scale of photovoltaic industry enterprises has a significant negative impact on enterprise performance.The larger the initial scale of the enterprise,the worse the performance of the enterprise.The uneconomic scale in the early stage is related to the economic and technical characteristics of the photovoltaic industry with large initial investment and long regression period,as well as the more flexible operation mode adopted by small enterprises.In view of the conclusion,this paper puts forward the following policy enlightenment:improve the industrial organization policy,provide a good environment for photovoltaic industry enterprises to enter;Scale is not the only factor for the success of an enterprise.In implementing the strategy of scale economy,attention should be paid to strengthening the internal management of the enterprise.In case of obstacles in the process of scale expansion,the business model should be adjusted in time instead of blindly expanding the scale.We will adjust the investment orientation of government subsidies,adjust the standard of funding subsidies,and increase subsidies to photovoltaic enterprises with strong innovation capabilities and strong capabilities.This paper focuses on the in-depth study of the initial size,reveals the influencing factors of the initial size,and analyzes the impact of the initial size on the growth and performance of enterprises.However,due to the small amount of data,this paper fails to conduct a more in-depth analysis,which needs to be further discussed in the future.