我国新能源汽车产业融资效率评价与分析——基于DEA-Logit模型的实证研究

Financing Efficiency Evaluation and Analysis of New Energy Automobile Industry Based on the DEA-Logit Model

摘要:

新能源汽车产业的发展已成为我国顶层战略布局的重点领域,而融资效率是影响其稳健发展的重要因素之一。文章运用DEA-Logit模型,对我国30家新能源汽车企业的8年面板数据进行实证研究,以DEA的效率结果为基础,定量分析了相关金融指标对融资效率的影响。研究表明,我国新能源汽车产业未达到融资充分有效,其融资效率与宏观经济走势及企业股权融资占比正相关,而与企业债权融资占比负相关,据此文章提出相应对策建议及发展路径。

Abstract:

The development of new energy automotive industry has become the focus of strategic design in our country, the financing efficiency level is an important factor that affects its steady development. Based on the DEA-Logit model, this paper makes an empirical study on the panel data of 30 new energy automobile enterprises in China (2008 -2015), It quantitative analysis of the impact of related financial indicators on the efficiency of financing based on the efficiency of DEA. The results show that the development of Chinese new energy automotive industry has not been fully effective, macroeconomic trends and equity financing played a positive role in financing efficiency, while the corporate debt financing accounted for a negative correlation. Based on this, the article puts forward the corresponding countermeasures and development path.