Investment efficiency of the new energy industry in China

Article

Zeng, S., Jiang, C., Ma, C. and Su, B. 2018. Investment efficiency of the new energy industry in China. Energy Economics. 70, pp. 536-544. https://doi.org/10.1016/j.eneco.2017.12.023
TypeArticle
TitleInvestment efficiency of the new energy industry in China
AuthorsZeng, S., Jiang, C., Ma, C. and Su, B.
Abstract

This paper evaluates the investment efficiency of the new energy industry in China and investigates factors that explain variations in investment efficiency across firms and over time. Applying a four-stage semi-parametric DEA analysis framework to a sample of listed new energy firms over the period 2012-2015, we find that the overall investment efficiency of the new energy industry is relatively low, with an average total technical efficiency of 44%, pure technical efficiency of 48%, and scale efficiency of 90%. We also find that new energy firms’ investment efficiency is affected by both macroeconomic conditions and firm-specific characteristics. Our results are robust and have significant implications for policy makers and firm managers.

PublisherElsevier
JournalEnergy Economics
ISSN0140-9883
Publication dates
Online23 Dec 2017
Print01 Feb 2018
Publication process dates
Deposited05 Jan 2018
Accepted17 Dec 2017
Output statusPublished
Accepted author manuscript
License
Copyright Statement

© 2017 Elsevier B.V. This author's accepted manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/

Digital Object Identifier (DOI)https://doi.org/10.1016/j.eneco.2017.12.023
LanguageEnglish
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