山东省科技型中小企业融资效率评价研究

Evaluation of Shandong Science-Technology SMEs' Financing Efficiency

利用包络数据分析(DEA)法,通过构建科技型中小企业融资效率的评价体系,选取总资产、资产负债率和营业成本作为三大投入指标,ROA、主营业务收入和营业收入同比增长率作为三大产出指标,采用山东省上市的20家科技型中小企业为样本,导入相关投入产出指标进行了DEA实证分析。实证研究结论表明,当前山东省科技型中小上市公司总体融资效率呈低下状态,且投入和产出未能协调达到一个最优值。结合山东省科技型中小企业的实际,从优化政府外部环境、完善企业内部管理与技术创新等两个方面提出了有针对性的提高其融资效率的对策建议。

By adopting data envelopment analysis （DEA） method and establishing an evaluation system for science-technology SMEs＇ financing efficiency, a DEA empirical study is conducted by importing related input- output indicators with total assets, asset liability ratio and operating cost as input indicators, with ROA, main business revenue and operating income growth rate as output indicators, and with twenty listing science-technology SMEs from Shandong Province as samples. The results show that the overall financing efficiency of Shandong listing science-technology SEMs is low with the input and output failing to be optimally coordinated. Based on the actual situations of Shandong science-technology SEMs, the countermeasures and suggestions aimed at improving financing efficiency are put forward in terms of optimizing government＇s external environment and perfecting enterprise internal management and technology innovation.