Research On Incentive Policy Optimization Of New Energy Automobile Industry From Multitask Principal-agent Perspective

On the one hand,the development of new energy automotive industry is conducive to the structural adjustment and transformation of the automotive industry,enhancing the competitiveness and international status of China’s automotive industry,expanding employment.On the other hand,it is conducive to improving air quality,reducing exhaust emissions and alleviating energy shortage.The new energy vehicle industry has been listed as one of seven strategic emerging industries in China.Under the guidance of industrial incentive policy,not only the entire industry scale expands rapidly,but also some enterprises rely heavily on subsidies,core technology breakthroughs are not significant and other consequences.How to optimize the existing industrial incentive policies and promote the better and faster development of the new energy automobile industry is the starting point of this paper.The innovation of the thesis is to study the problems existing in the incentive policy of the new energy automobile industry from the perspective of multi-task principal-agent.Combining the relevant literatures on new energy vehicles,industrial policies and principal-agent theory,the focus of this paper is to start from the two aspects of industry scale and technological breakthroughs.According to the development status of domestic new energy automobile industry,the existing incentive policies may have problems.Then,with the multi-task principal-agent model,the behavior of the enterprise under the existing industrial incentive policy is studied from the perspective of multi-task principal-agent.The key conclusions of the paper are obtained through the analysis of the theoretical model: the first is that the new energy vehicle industry incentive policy will enable enterprises to focus more on production improvement;the second is that the new energy vehicle industry incentive policy will cause enterprises to ignore the level of technological innovation.In order to further confirm the above viewpoints,this paper uses the quantitative analysis method to conduct empirical tests.The two research hypotheses respectively constructed the corresponding two-way fixed effect model,and collected the data of new energy vehicle listed companies for regression analysis.Finally,it was confirmed that the new energy automobile industry incentive policy is effective for the enterprise’s output expansion,but the new energy automobile industry incentive policy is not valid for the enterprise’s technological innovation ability.The key points of this paper are as follows:First,combing relevant research at home and abroad to find the contribution and value of this article.By studying the previous literature,this paper finds the inadequacies and improvement space of the existing literature,lays a foundation for the subsequent research,and clarifies the research direction and contribution of this paper.Second,the status of domestic new energy automobile industry development.Through the method of descriptive analysis,starting from the two dimensions of industry scale and technological breakthrough,it is found that China’s new energy vehicles have achieved remarkable results in the scale of the industry.However,in terms of technological breakthroughs,we found that we did not achieve corresponding results after the case analysis method.The research on the development status of the new energy automobile industry is the basis for subsequent research and analysis.Third,the development of domestic new energy auto industry incentive policies and policy characteristics.Supporting the new energy automobile industry as an important measure to realize the “overtaking of the curve” in China’s automobile industry has always been highly concerned by scholars and government departments at home and abroad.This paper locks the research object into the incentive policy of the new energy automobile industry,analyzes the relevant policies and characteristics of the government over the years,and proposes the possible problems of the policy,laying the foundation for further suggesting incentive policy optimization and promoting the development of the new energy automobile industry.Fourth,the behavior of enterprises under the multi-task target of industrial policy.The government’s new energy vehicle industry incentive policy can be seen as the process of enterprises being motivated by the government to complete the corresponding government goals.The relevant incentive policies issued by the government obviously have multiple objectives such as expanding the scale of the industry and accelerating technological breakthroughs.This paper studies the new-energy auto companies under the industrial incentives by constructing a multi-task principal-agent model of the government and new energy auto companies.We has found that existing industry incentives will cause companies to focus more on improving the production of new energy vehicles,but will ignore the technological innovation of enterprises.Fifth,empirically examine the impact of industrial incentive policies on new energy vehicle production and technological innovation output.This paper collects panel data of 23 new energy vehicle listed companies,empirically tests the impact of new energy vehicle industry incentive policies on production and technological innovation,and confirms the reliability of theoretical model conclusions.Sixth,optimize China’s new energy vehicle industry incentive policy.This paper studies and analyzes the direction and specific measures of the optimization of existing incentive policies from the perspective of multi-task principal-agent.The strong incentives of existing policies for measurable targets have caused enterprises to ignore technological innovations.Therefore,in future policy design,we should weaken the multi-task of policy objectives and focus on improving the level of technological innovation of enterprises.After the above research and analysis,this paper puts forward seven optimization suggestions for the optimization of incentive policies for new energy automobile industry: defining the policy objectives and reducing the frequent introduction of incentive policies will help to improve the effectiveness of the implementation of the policy;focus on supporting the technical research and development of core components and accelerating the improvement of the technical level of the new energy automobile industry;strengthening the construction of talent team and building the platform of industry-university-research cooperation will help to improve the innovation ability and R & D ability of the industry;reduce the strong incentive to measurable indicators,and deepen the decline of subsidies;improve the level of intelligent manufacturing and the application of "Internet" technology,raise the level of intelligent development of supply chain as a whole,strengthen the competitiveness of supply chain;encourage key enterprises to implement horizontal and vertical mergers and acquisitions and restructuring,and strengthen the strength of enterprises;continue to promote the matching of charging and replacement services and operation services,improve and optimize the environment for the use of electric vehicles..