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| 論文名稱 | 化石燃料產業與再生能源產業的財務比較分析 |
| 研討會開始日期 | 2023-06-17 |
| 研討會結束日期 | 2023-06-17 |
| 所有作者 | 謝仁和，曹淑琳 |
| 作者順序 | 第二作者 |
| 通訊作者 | 否 |
| 研討會名稱 | 第十八屆國際綠色能源科技暨管理研討會 |
| 是否具有對外公開徵稿及審稿制度 | 是 |
| 研討會舉行之國家 | NATTWN-中華民國 |
| 研討會舉行之城市 | 彰化 |
| 發表年份 | 2023 |
| 所屬計劃案 | 無 |
| 可公開文檔 |
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| 可公開文檔 |
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| 可公開文檔 |
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| 附件 |
2023綠色研討會投稿 化石燃料產業與再生能源產業的財務比較分析.pdf
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[摘要] :
聯合國2050年碳中和淨零排放目標的達成相當程度仰賴再生能源產業的發展，期待取代化石燃料生產的能源。然而化石燃料產業公司的市值屢創新高，似乎沒有往下走的跡象，由於資本追求利潤，資金走向代表產業發展方向的興衰，究竟化石燃料產業的企業獲利較具競爭力，抑或是再生能源的企業獲利較高。本文透過選擇全球化石燃料產業與再生能源產業市值規模在前面的企業進行比較，從財務角度探討兩者之間的績效表現差異。本文發現化石燃料公司的市值、ROE、ROA與EPS都比再生能源產業公司來的好；其次，再生能源公司與化石燃料公司市值與規模對經營績效有顯著關係，意味著兩種產業均存在規模經濟效應，但是公司型態與市值的交互作用，對於再生能源公司的財務績效沒有顯著的影響，反而對化石燃料公司有顯著影響，顯示化石燃料公司之間的競爭相對較強，在傳統能源市場需求相對穩定且成熟，財務績效相對再生能源公司更好。
[英文摘要] :
The achievement of the United Nations' 2050 carbon neutrality and net-zero emissions goal relies to a considerable extent on the development of the renewable energy industry, with the expectation of replacing energy production from fossil fuels. However, fossil fuel industry companies continue to reach new record-high market cap. Due to capital-driven profit-seeking motives, the flow of funds represents the direction of industry development, raising the question of whether fossil fuel companies are more profitable or if renewable energy companies generate higher profits. This article compares the market cap of leading global fossil fuel and renewable energy companies and explores the performance differences between the two from a financial perspective. The findings of this study indicate that fossil fuel companies outperform renewable energy companies in terms of market cap, ROE, ROA, and EPS. Additionally, there is a significant relationship between the market cap and scale of both renewable energy and fossil fuel companies, suggesting the presence of economies of scale in both industries. However, the interaction between company type and market cap does not have a significant impact on the financial performance of renewable energy companies, while it does have a significant influence on fossil fuel companies. This indicates a relatively stronger competition among fossil fuel companies in a relatively stable and mature traditional energy market, resulting in better financial performance compared to renewable energy companies.
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