A Countermeasure Research On Debt And Equity Financing Risk Control Of New Energy Listed Enterprise

With the vigorous development of the new energy enterprises and the diversification of financing demand,financing risk associated with problems can’t be ignored.In 2015,the top 500 global new energy enterprises,There were 168 enterprises in China,five more than last year,far more than the United States and Japan.In the world’ top 50 enterprises,Chinese enterprises have increased to nine and the rank has improved.According to《The Global New Energy Development Report in 2016》,the financing limit of Chinese new energy industry raised about $110.52 billion and up to the world’s largest in 2015.With the huge market potential of new energy industry,and constantly broaden the financing channels to diversify financing model to improve the credit line forcing new energy enterprises should solve the following problems of what is controlling the financing risk reasonably and efficiently and screening suitable financing channel.With these,new energy enterprises can operate normally.In this paper,in combination with the domestic and foreign scholars on the forefront of financing risk control theory,used those which by the end of 2015 in the Shenzhen and Shanghai stock exchange’s new energy enterprises as the research object,studied the present new energy industry and new energy development situation,present situation of debt and equity financing of listed companies and financing risk causes.According to the new energy listed companies financing characteristics and the causes,this article was mainly to control the two big financing risk which were the debt financing and equity financing of listed new energy companies.Based on the new energy listed companies financing risk qualitative and quantitative analysis,finance risk evaluation system was established.This paper has established financing risk evaluation index system from four aspects that were the creditor’s rights financing,equity financing risk,enterprise capital operation and the fiscal and taxation policy,then screened 12 specific financial indicators.At last,this paper chose the Entropy Method for the empirical analysis of risk assessment.Based on analyzing new energy listed companies financing risk entropy weight,found that the entropy weight of debt-to-long capital ratio,the actual income tax rate and the operating cost rate were higher,then the entropy weight of the cash maturing debt ratio,the receivable turnover ratio,the inventory turnover rate were smaller.Empirical results found that the listed companies of new energy about biomass energy’s comprehensive score value were lower,then the listed companies of new energy about solar energy’s comprehensive score value were higher,so this paper argued that in the listed companies of new energy,biomass energy type of financing risk was lesser,solar type of financing risk was bigger and needing to strengthen risk control.As for the new energy of the listed company,generally the creditor’s rights financing risk was greater than the equity financing risk,and smaller countries enjoy preferential tax policies.At the end,based on the previous theory,the present situation and the empirical study,the countermeasures and suggestions are given from three aspects about the new energy enterprise overall control principle,internal control and external control in this paper.To reduce new energy listed companies financing risk had a guiding role,at the same time for the new energy industry,help to better control the financing risk and improve the economic benefits of the whole industry.