Performance changes analysis of industrial enterprises under energy constraints

The rapid development of industry has made great progress in economy and society. However, the problems of resource shortage and environmental pollution are becoming more and more serious. The coordinated development of economy, energy and environment in industrial sector is an important guarantee for achieving global sustainable development goals. This study took 11,909 micro industrial enterprises in Anhui Province, China as the research objects, used super-efficient data envelope analysis models to measure corporate performances before and after considering energy constraints, analyzed performance changes and explored corporate attributes corresponding to these changes. The results show that although energy constraints reduced the corporate performance of the enterprise sample as a whole, the effects vary among enterprises. Performance may increase, decrease or remain constant, and the increasing degree of corporate performance is significantly lower than the corresponding reduction. Corporate performances mostly change by a small amount, and the closer an enterprise's performance is to the market average, the less it is influenced by energy constraints, and vice versa. Enterprises that increase performance are mainly low energy-consuming enterprises, small-scale enterprises and private enterprises. In contrast, enterprises that experience performance reduction are mostly high energy-consuming enterprises, large-scale enterprises and state-owned enterprises. In the future, enterprise development should differentiate energy saving and emission reduction policies, provide more financial support for technological innovation, guide a reasonable size distribution among enterprises, encourage stock diversification and establish strict market access systems.