Study On Supply Chain Financing Mode Of Small And Medium High-Tech Firms

Small and medium High-Tech firms are important potencies for china to realize progress in science and technology and to realize development in its economy; they play an important and positive role in enlarging employment, promoting technology progress, developing international trade, enhancing health development of economy, and so on. Capital shortage is one of the most principal factors that restrict the development of small and medium High-Tech firms in China. There are lots of problems existing in the process of financing for Small and medium High-Tech firms, such as high cost, opaque information, high risk in fund using, lack of assurance, etc. Although, the government has taken many policies to promote the financing of small and medium High-Tech firms, it can't change the difficult situation of lacking capital utterly. Supply chain management emphasizes on the cooperation relation among core firms and other relevant firms, which can realize management integration by information sharing, technology diffusing (communicating and cooperating), resources optimizing and distributing and effective value chain stimulating, etc. After joining in supply chain, small and medium High-Tech firms can strengthen information communication with investors, reduce risk and widen financing channel by taking advantage of supply chain's information web and advanced management methods. Therefore, it is a deserving study problem that how to take fully use of the advantage of cooperative development within supply chain and the abundant resources out of supply chain to finance, to strengthen information communication between small and medium High-Tech firms and investors, to supervise timely, to reduce risk and cost, and to satisfy the development demands of small and medium High-Tech firms, and to promote small and medium High-Tech firms'rapid development.Based on the analysis of current financing situation of small and medium High-Tech firms and research actualities of supply chain in foreign countries and homeland, this article makes comparative studies on the financing modes in foreign countries and homeland by using the theories and methods of systematic analysis and comparison research. From the aspects of small and medium High-tech firms'characteristic under supply chain management, information communication, coordinative operation of goods flow, information flow and fund flow, influence on risk and capital structure, this paper makes systematic analysis on financing advantage of small and medium High-tech firms. On the basis of that, this article deeply studies on the direct financing mode of exchange-storage center and supply chain strategic alliance, and the indirect financing mode of civilian financing and private financing combining with financial systems and the characteristic of capital market. Finally, this paper gives an example of the supply chain financing of Beijing double-aigrettes pharmacy incorporated company. The research of this paper provides scientific basis and references for accelerating small and medium High-tech firms'financing under supply chain management.