Co-operative Research on Financing Ecological and Efficiency of Industrial—Evidence from China’s New Energy Industry

Table 1

Evaluation index system of new energy industry financing efficiency.

Input/output	Indicator name	Indicator variables	Calculation formula
Input indicators	Financing costs	Debt financing costs	Interest expenditure/(short-term borrowing + long-term borrowing + bonds payable)
		Equity financing costs	Capital asset pricing model
	Financing risks	Property rights ratio	Total liabilities/total shareholder equity
	Financing time	Funding speed	Net cash inflow from sales/financing activities
Intermediate indicators	Debt financing	Liabilities	Current liabilities + non-current liabilities
	Equity financing	Owner’s income	Total shareholder equity
Output indicators	Profitability	Net interest rate on assets	Net profit/total assets
	Operational capacity	Total assets turnover	Sales income/total average assets
	Capacity development	Net profit growth rate	Total net profit growth/total net profit of previous year