Study On Influential Factors Of Small And Micro Technology-Based Enterprises Financing In Liaoning Province

As the most active enterprise group, small micro enterprises play an important role in the development of the economy as well as improving the market activity, increasing tax revenue, creating a large number of employment opportunities and maintaining social stability in China. The technology-based small micro enterprise with high technical and innovative, flexible management mechanism and the characteristic of the strong market strain capacity, is an integral part in the process of economic transformation and industrial upgrading in China.In the economic transition period of Liaoning province, technology-based small micro enterprises will promote economic development and industrial upgrading as an indispensable role in the process. Although the government attaches great importance to small and micro technology-based enterprises development, such as certain preferential policies, but because of internal factors such as small scale asset, and external factors such as lack of financing process specific to small micro enterprises, a model on Small and Micro Technology-Based Enterprises Financing has not been established until now.Although there are numbers of researches on small micro enterprise financing problem, but there is no research to explore the influential factors of small and micro technology-based enterprises in Liaoning province, which is key point to solve financing difficult situation.This paper is divided into four chapters:the first chapter is to introduction, mainly introduced the research background, significance and research ideas and technical route, and to sort the existing literature on small micro enterprise financing. On the second chapter, We establish an index system with 34 primary indicators through the academic literatures, referring commonly used small micro enterprise financing indexes of big financial institutions. Then I use the variance inflation factor analysis method to eliminate the primary indicators with strong collinearity to avoid the information overlap interference in our model, then I use multiple linear regression analysis to find the relationship between the enterprise financing and each index in our model. The third chapter is the empirical research, key factors such as asset-liability ratio is found with 319 samples on technology-based small micro enterprises in Liaoning province and give the analysis on empirical results. The fourth chapter is policy recommendation, we put forward our recommendation as reference in three aspects:small micro technology-based enterprises, financial institutions and government.