A Study On The Financing Channel Of Small And Medium-sized Enterprises Of Science And Technology

Looking back at human’s rapid development during the last more than one hundred years, the world economic development is based on the transactions and trade, including technology, products, stocks, bonds, futures and so on. Compared with real economy, transactions and trade have gained huge profits and promoted the communication among the countries all over the world as well, which is well-known to western countries, such as England and America. Looking into the future, the profit space of transactions and trade based on monopolization and information unfairness will become smaller and smaller. The information in the future society will highly developed and the value of society will lie in creation and innovation. At the same time, we can believe that creation and innovation cannot do without the rapid development of small and medium-sized enterprises of science and technology.This paper takes the current situation of capital market in our country and TD Company as the objects. It mainly studies the financing channel of small and medium-sized enterprises of science and technology through research and analysis of their financing characteristics and with the guidance of scientific development view and sustainable development view. It uses the thought of modern enterprises and company’s financial management and the thought of pursuing the maximum of the value of enterprises or companies and the maximum of the profits of the stockholders. It is based on the goal of enterprises or companies’financial management. It studies MM theory, equilibrium theory, incentive theory, capital equilibrium theory and different life cycles of small and medium-sized enterprises of science and technology. The aim of this paper is to help the small and medium-sized enterprises in our country make full use of the capital market and solve capital bottleneck, expecting to promote their development and expanding fundamentally, so as to promote the development of the society better and faster.