“互联网+”背景下我国创新型中小企业融资效率研究

Research on Financing Efficiency of Innovative SMEs in China under the Background of “Internet + ”

创新是经济发展的内生动力,创新型中小企业是驱动经济发展的重要力量。"互联网+"的繁荣为创新型中小企业融资带来了机遇的同时,也带来了挑战。以2016-2018年我国新三板创新层中小企业作为研究对象,基于DEA-Malmquist模型,研究其融资效率,实证结果表明,我国创新型中小企业融资效率整体偏低,且呈现下降趋势;分行业来看,信息传输、软件及信息技术服务业融资效率相对较高。在实证基础上,从宏观政策层面和微观企业层面提出了相应的政策建议。

Innovation is the endogenous driving force of economic development. Innovative SMEs are the important factor for the development of ecnomics. The prosperity of"Internet + "has brought both opportunities and challenges to the financing of innovative SMEs. Based on DEA-Malmquist model,this paper studies the financing efficiency of innovative SMEs in China from 2016 to 2018. The empirical results show that the overall financing efficiency of innovative SMEs in China is low and has been on a declining trend. Among the industries we studied,the information transmission,software and information technology services industry is of highest financing efficiency. On the basis of empirical analysis,this paper puts forward policy suggestions.