The Study On Financing Problem Of High-tech Enterprise

In the era of Knowledge economy, with developing at full speed of new high-tech enterpriseand big stride forward of the changing rapidly economy, High and new technology and its industryhave become the power and source of the economy and social to develop fully, are also animportant symbol to weigh the overall strength of one country and core competitiveness. Therefore,The governments of the countries all over the world and economic organizations all pay more andmore attention to develop and innovate high and new technology,moreover it is also the key ofreserving wealth in the countries. High-tech enterprise is basic power of developingknowledge-intensive industry, has been strengthening the consciousness of independent innovationand building the innovative country. However, financing difficult and the follow-up funds whichcan't reach timely become a big bottleneck which stops always the healthy development of high-tech enterprise. Especially in recent years, due to subprime mortgage crisis of the U.S. caused theglobal financial storm, it has been diffused to the entity economy, and the economic recession anddepression of the whole world has become the indisputable fact. In this special period, researchingfinancial problems of high-tech enterprise have strong practical significance.First of all, this paper introduces the definition and characteristics of high and new technologyenterprise, and for the choice of the financing way of high and new technology enterprise providesrelevant theoretical background, enterprise financing and capital structure theory. In the second, itexpounds that high and new technology enterprise should not only inherit traditional financingmodel, more to be in the original foundation to innovate, strengthen the flexibility and sustainabilityof the origin of capital. In the third, for financing difficulties that high-tech enterprises are facing, itdiscusses the cause of the financing trouble, from inside to outside analysis: enterprise' owndeficiencies and the developed short board of the financial market and banking industry. At last, itpoints out that high and new technology enterprise should follow its own life cycle characteristicsof stage, dynamically select the optimal financing strategies to realize the maximization ofenterprises' value. At the same time the strategy analysis will get answer the financing difficulties,the improvement of the internal and external financing environment can ensure the healthydevelopment of high and new technology enterprises.