Research On The Financing Efficiency And Influencing Factors Of New Energy Enterprises In My Countr

With the strengthen of global climate change and energy transformation,new energy has become the key to the future development strategy of countries around the world.In March 2021,the 13 th National People’s Congress,which raised the new energy deployment plan to an important strategic height,so as to guarantee energy reserves,promote economic construction and achieve sustainable growth.Among them,as an important part of the new energy industry,the construction plan defines its future development direction and is committed to building a safe,reliable and high-level advanced energy system.With the support of policies,the new energy industry has grown rapidly in recent years.However,as the new energy industry is a capital-intensive industry,it requires huge investment from technology research and development to construction and operation,and these investments have a long payback period and lack of core technology,which seriously restricts the financing of new energy enterprises,thus affecting its development prospects.This article will take improving the financing efficiency as the starting point,and discuss how to effectively alleviate the financing pressure of new energy enterprises.This paper first summarizes the current situation and relevant theories of financing efficiency research,and studies the development of Baoxin Energy and new energy industry on this basis,and discusses the reasons for its financing difficulties.Subsequently,DEA-BCC model and Malmquist index analysis method were used to measure and compare the static and dynamic financing efficiency levels of 35 new energy enterprises,including Baoxin Energy.Next,six influencing factors are selected and the Tobit model is used to carry out regression analysis on the influencing factors of Baoxin Energy financing efficiency.Finally,according to the previous research results,relevant suggestions and countermeasures are put forward to improve the financing efficiency of Baoxin Energy.The research results show that the static financing efficiency of Baoxin Energy is low because of the high financing pressure of enterprises,unreasonable financing structure and low return on investment capital;The dynamic financing efficiency has declined for many years,due to the low efficiency of enterprise capital allocation,single financing channel and low awareness of financing risk prevention and control;The three indicators of government policies,technology level and equity concentration have a positive role in promoting the financing efficiency of Baoxin Energy,while the three indicators of management compensation,cash dividend ratio and financing cost have a significant negative correlation with the financing efficiency of enterprises.Based on the results of empirical research,suggestions are put forward for Baoxin Energy to reduce the financing cost,optimize the financing structure,equity concentration ratio,change executive compensation structure and incentive methods.