Dynamic Coevolution of Capital Allocation Efficiency of New Energy Vehicle Enterprises from Financing Niche Perspective

Abstract EN

Based on the dynamic characteristics of enterprises’ competition and cooperation, this paper introduces the idea of ecology and synergy and constructs a dynamic coevolution model of financing allocation efficiency and financing niche based on improved Lotka-Volterra model.

The parameters in the model are difficult to be given by the least square method and the maximum likelihood estimation method; the accelerated genetic algorithm is proposed to solve the parameters in the dynamic coevolution model, which makes the parameter estimation more accurate and reasonable.

Finally, the data of new energy vehicle listed companies in China from 2009 to 2017 are given to validate the proposed model, and the dynamic process of coevolution of new energy vehicle enterprises, capital allocation efficiency, and financing niche is described.

The results show that the minimum financing niche breadth of industry and market determines the location of the equilibrium point.

With capital allocation efficiency as the core, adjusting the financing niche through financing market, industrial policy, enterprise development, and other factors will help to improve the coevolution balance between industrial capital allocation efficiency and financing niche and promote the coordinated development of strategic emerging industries.