How to play the role of fiscal subsidies? Based on the research of photovoltaic industry in China--Based on SBM-DEA and FGLS methods.

Fiscal compensation may play either an incentive or a crowding-out role in the different enterprises of the PV industry. First, a model for evaluating the efficiency of fiscal compensation was designed. Then, an empirical analysis of the influencing factors using a panel data model was made. Results showed that fiscal compensation had an incentive effect on 73.3 % of enterprises, but it had a crowding-out effect on the remaining enterprises. The average efficiency of fiscal compensation for enterprises in the PV industry is 1.117. The average efficiency of fiscal compensation for the front-end and back-end enterprises was 1.002 and 1.231, respectively. The impact of fiscal compensation on China's photovoltaic industry has shown a downward trend over time, and the role has also changed from an incentive effect to a crowding-out effect. The size of the enterprise and the intensity of fiscal compensation will affect the efficiency of fiscal compensation. There is an inverted U-shaped relationship between the intensity of fiscal compensation in China's photovoltaic industry and the efficiency of fiscal compensation. The larger the enterprise, the more efficient the fiscal compensation will be.