科技型中小企业融资效率与融资风险协调度评价研究

发布时间：2018-10-10 07:26

【摘要】：受京津冀协同发展等宏观政策影响,河北省政府不断加大对科技型中小企业的培养和扶持力度,全省范围内的科技型中小企业面临前所未有的发展机遇。科技型中小企业,与其他类型中小企业相比具有先天优势,比如企业科技性强、产品经济效益高等特点。但是,科技型中小企业在发展过程中同样面临无法回避的困扰,其中一个重要方面就是企业的融资问题,具体表现在融资效率和融资风险上。根据上述主要问题和研究目标,本文首先对现有研究文献进行了理论综述,并对河北省科技型中小企业发展现状进行了回顾与分析,并且突出研究了其在融资方面的缺陷。在此基础上,文章采用数据包络法对企业融资效率进行实证研究,然后建立关于融资风险的灰色关联模型,并进行计算分析。其次,为了反映企业融资效率与融资风险之间的关系,本文基于科技型中小企业自身的特点建立负债类协调指数、杠杆类协调指数这两个评价指标,并建立指标协调度测度模型对效率与风险的协调度进行评价。基于以上实证分析结果,文章给出相应的对策和建议,对于改善河北省科技型中小企业融资现状具有重要现实意义。综合起来,本文的创新之处主要有两点:(1)研究视角新颖,内容上确立了融资效率与融资风险协调度这一突破点。这一新的研究视角有助于更深刻、更全面地探讨提高河北省科技型中小企业融资效率同时降低风险的对策。(2)构建反映协调度的指数。本文分别构建了负债类和杠杆类协调指数,用来反映融资效率与风险间的协调程度,可以更加清楚地观察二者间的关系,在此基础上提出的政策建议也更具说服力。
[Abstract]:Under the influence of the macro policies such as Beijing, Tianjin and Hebei, Hebei provincial government has been increasing the training and support of science and technology small and medium-sized enterprises, and the scientific and technological SMEs in the province are facing unprecedented development opportunities. Compared with other types of small and medium-sized enterprises, science and technology SMEs have inherent advantages, such as strong science and technology, high economic benefits and so on. However, in the process of development, the small and medium-sized enterprises of science and technology also face the unavoidable difficulties. One of the important aspects is the financing problem of the enterprises, which is manifested in the financing efficiency and financing risks. According to the above main problems and research objectives, this paper firstly summarizes the existing research literature, reviews and analyzes the current situation of the development of small and medium-sized sci-tech enterprises in Hebei Province, and highlights its shortcomings in financing. On this basis, the paper uses the data envelopment method to carry on the empirical research to the enterprise financing efficiency, then establishes the grey relational model about the financing risk, and carries on the calculation analysis. Secondly, in order to reflect the relationship between financing efficiency and financing risk, this paper establishes debt coordination index and leverage coordination index based on the characteristics of science and technology small and medium-sized enterprises. An index coordination measure model is established to evaluate the coordination between efficiency and risk. Based on the above empirical analysis results, the paper gives the corresponding countermeasures and suggestions, which is of great practical significance for improving the financing status of small and medium-sized scientific and technological enterprises in Hebei Province. To sum up, there are two main innovations in this paper: (1) A breakthrough point of financing efficiency and financing risk coordination is established. This new research angle is helpful to more profound, more comprehensive approach to improve the financing efficiency of small and medium-sized technological enterprises in Hebei Province while reducing the risk. (2) to build an index reflecting the degree of coordination. In this paper, debt and leverage coordination indices are constructed to reflect the coordination degree between financing efficiency and risk, and the relationship between them can be observed more clearly. On this basis, the policy recommendations are also more persuasive.
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F276.44;F275

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