摘要
新三板是中小企业融资的重要平台。分层制度的实施,有助于企业提高信息透明度,拓宽融资渠道,提升融资效率。文章采用DEA模型,对新三板创新层252家企业2014—2016年的融资效率进行研究。结果表明,创新层企业的融资效率逐年递增,但仍有较多数的企业处于融资无效率状态。通过DEA效率指标分解,发现企业融资效率低下是由于没有合理运用所融资金,企业规模较小仍是创新层企业生产发展的主要障碍。结合结论,文章提出了更具针对性的政策建议。
NEEQ is an important platform for SME financing. The implementation of the tiered system will help enterprises improve the transparency of information, broaden the financing channels and improve the efficiency of financing. In this paper, DEA model has been used to explore the financing efficiency of 252 enterprises in the NEEQ innovation market from 2014 to 2016. The results show that financing efficiency is increasing year by year, however, there is still a large number of enterprises in the financing inefficient state. Through DEA index decomposition, it is found that such low efficiency is due to the lack of rational use of financing. Combined with the conclusion, this paper puts forward more specific recommendations.
出处
《生产力研究》
2017年第11期44-47,共4页
Productivity Research
