IDEAS home Printed from https://ideas.repec.org/a/eee/eneeco/v145y2025ics0140988325002385.html
   My bibliography  Save this article

Greening the energy industry: An efficiency analysis of China's listed new energy companies and its market spillovers

Author

Listed:
  • Ren, Xiaohang
  • Wang, Shengxin
  • Mao, Weifang
  • Gozgor, Giray

Abstract

Governments around the world have increasingly focused on the advancement of the new energy sector as a pivotal component of the energy industry's green transformation. At the same time, scholars have begun to emphasize the operation and development level of new energy enterprises. However, there is little literature that provides in-depth analyses of the market performance of new energy enterprises from an efficiency perspective. Therefore, based on the shared data of 19 new energy-listed companies in China, this study calculates the market efficiency of the companies by using the Feasible Exact Local Whittle (FELW) estimator and analyses the efficiency spillover among the companies in the new energy industry via the quantile vector auto-regression (QVAR) model. The findings suggest that there are asymmetric spillovers in the efficiency of firms in the new energy industry and that they are closely related to the investment and financing conditions in the market. In most cases, firms in the cobalt and silicon metal industries show net efficiency spillovers, while firms in the photovoltaic and lithium battery industries show net efficiency receivers. These findings are critical for governmental entities, associated enterprises, and investors to arrive at judicious decisions, thereby facilitating the expeditious advancement of new energy markets.

Suggested Citation

  • Ren, Xiaohang & Wang, Shengxin & Mao, Weifang & Gozgor, Giray, 2025. "Greening the energy industry: An efficiency analysis of China's listed new energy companies and its market spillovers," Energy Economics, Elsevier, vol. 145(C).
    • Handle: RePEc:eee:eneeco:v:145:y:2025:i:c:s0140988325002385
    DOI: 10.1016/j.eneco.2025.108414
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0140988325002385
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eneco.2025.108414?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:145:y:2025:i:c:s0140988325002385. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.