我国新能源产业发展的金融支持研究——基于上市公司2003~2012的数据

摘要

新能源产业是我国重点扶持的战略性新兴产业,如何通过金融支持促进新能源产业发展是当前亟需解决的问题.本文首先总结并归纳了国内外学者对于金融支持产业发展问题的研究,对金融支持新能源产业发展做了机理分析.然后选取了20家以新能源为概念的上市公司2003~2012年的财务数据,运用因子分析法提取出衡量新能源产业发展水平的综合指标,并与衡量金融发展的相关指标构建面板数据模型.实证结果表明,金融规模扩大、金融效率的提高以及金融结构的改善均能促进新能源产业的发展;此外,政府的相关职能及政策手段也可以对新能源产业的发展起到促进作用.最后,本文依据实证分析的结果,提出了优化金融支持的相关对策.%The new energy industry is one of the strategic emerging industries which our country supports primarily.This paper aims to research how to advance development of new energy industry through financial support.Literature research method,normative analysis and empirical analysis are adopted in this whole paper.Firstly,this paper summarizes researches of financial support for industrial develop-ment by the domestic and foreign scholars,and does Mechanism analysis of financial support for the development of new energy industry.Then,this paper selects the financial data of 20 companies which come into the market as new energy companies in 2003-2012,using the factor analysis method to extract the comprehensive index which measures the level of development of new energy industry,and constructs panel data model with the relevant indicators of financial development.The empirical results show that the financial scale,financial effi-ciency and financial structure can promote the development of new energy industry.In addition,the relevant functions and policy tools of government can also play a role on the development of new energy industry.Finally,according to the results of empirical analysis,this paper puts forward the related countermeasures to optimize the financial support,such as encouraging nongovernmental finance to support new energy industry by some preferential policies.