科技型中小企业融资结构对企业绩效的影响

The impact of technological SMEs′ financing structure on enterprise performance

选取科技型中小企业定义所涉及行业中的128家企业为研究样本,采用财务指标分析法分析我国科技型中小企业融资结构对企业绩效的影响.结论显示,科技型中小企业资产负债率和国有股比例对于提高企业绩效有显著的负相关影响;流通股比例对企业绩效影响呈现显著正相关关系;债务来源对企业绩效影响显著,企业对于选择债务来源应足够重视;债务融资的偿还期限和股权集中度对企业绩效有一定的影响,但效果不是很明显,并提出改善融资结构,提高企业绩效的建议.

According to the definition of technological SMEs, the data of 128 enterprises was selected as the research sample. Empirical analysis was used to analyze the impact of technological SMEs＇ financing structure on enterprise performance through financial indicators. Some conclusions can be drawn that the ration of asset liability ratio and the state-owned shares for improving enterprise performance has signifi- cant negative correlation influence; Debt financing repayment period and equity concentration have cer- tain impact on the enterprise performance, but the effect is not obvious; The debt source has a signifi- cant impact on the enterprise performance,enterprises should pay more attention to debt source; the pro- portion of state-owned shares and corporate performance is negatively correlated; proportion of circula- tion shares is positively related to corporate performance.