The Research On Enterprise Financing Efficiency Of The Sme Board Listed Companies In Jiangsu Province

Due to the international financial crisis in2008, SMEs in our country has beenaffected seriously. More and more companies were deficit, off production or half offproduction; therefore enterprise’s economic benefits have fallen significantly.JiangsuProvince is not only one of China’s most active provinces in economic development,but also one of the provinces with the highest concentration of SMEs. Up toDecember31,2010, a total of648SMEs are listed on the board,85are in Jiangsu,which occupy about13.12%. In Jiangsu Province, SMEs occupy the half of themarket, and play an irreplaceable role in the socio-economic development. SMEshave become an important force to promote economic development.The thesis first provide a literature review of the financing structure theory andfinancing efficiency theory, and defines the meaning of financing efficiency for smalland medium enterprises. Then, it analyzes the financing actuality in Jiangsu Provinceand its affecting factors. By using the DEA model and select appropriate input-outputindicators, it provides calculation of financing efficiency for the72Jiangsu SMEslisted on the Shenzhen SME board for the year of2010and2011. After the analysis ofeach DMU data, conclusion can be made that. Jiangsu SMEs has a lower financingefficiency value. At last, specific countermeasures were suggested to improve thefinancing efficiency for the small and medium enterprises in Jiangsu Province.