Study On Financial Performance Comprehensive Evaluation Of Air Transport Listed Companies Under Low Carbon Economy

With the voice of sustainable development rising gradually,business managers has paid more and more attention to low-carbon economy model which promote the energy saving,low pollution and emission reduction.In order to maintain a good and recyclable ecosystem,the current concept of development has increasingly deepened and transited from pursuing maximum economic benefits to reducing pollution emissions while using limited resources scientifically and reasonably.China is now the largest developing country in the world.With the rapid expansion of industrial scale and growing environmental pollution,it is imperative for us to balance the industrial development and Environmental protection which seem restrict each other.After entering the 21 st century,China has brought the strategic goal of sustainable development into the national development agenda and defined the overall strategy of implementing sustainable development.At the same time,the concept of “low-carbon economy” has gradually been popular in economic management field,and has become one of the hot issues all over the world today.In recent years,various industries around the world have actively taken measures to reduce carbon emissions as much as possible.Because of the characteristics of high energy consumption and high carbon emissions,air transportation companies should attach great importance to low-carbon development to drive a low carbon economy.With the publishment of the first guide titled "Guide to the Implementation of the Social Responsibility of Air Transport Enterprises" by CAAC.It is no doubt worth studying that whether the development of low-carbon economy in air transportation industry will affect its economic benefits.It’s necessary to build a new financial index system to evaluate its performance in order to make the air transportation industry better meet the demands of low-carbon economy.Air transport enterprises are carbon emitters and social responsibility bearers.The evaluation of the financial performance under the background of the low-carbon economy is of great significance to their follow-up operation and planning of enterprises.In this study,I take the air transport enterprises listed on A-share market in 2017 as the sample,and collect relevant data from 2015 to 2017.After explaining the influence of the development of low-carbon economy and financial performance,I integrate low-carbon factors into traditional financial indicators and add a non-financial indicators called “low-carbon capacity”.Then I construct an evaluation index system that is suitable for air transport enterprises by using the analytic hierarchy process.On this basis,I use the results of the survey on expert questionnaire results to assign the corresponding weight to the index system.Finally,a specific analysis is carried out in combination with the case.It is conclude that there is a large gap in financial performance among companies because of different attentions are paid to low-carbon economy in the industry when low-carbon factors are added to the evaluation system.Among them,Air China and Hainan Airlines have better financial performances in a low-carbon economy.Others generally take economic interests seriously while neglecting cost input.According to the results of horizontal comparison,I suggest that the management of air transport enterprises should take notice of something,such as strengthening the control of operating cost,optimizing the capital structure,and enhancing environmental protection investment when making financial decisions and development plans.In this way,China’s air transport industry may have a powerful anti-risk capability and financial profit ability in the background of low-carbon economy.