| As we all know, high-tech small and medium-sized enterprises (SME) plays an importantrole in a country’s economic and social development. High-tech SME is the most dynamic, themost promising and most innovative growth groups,it has a very important role in the processof innovation and development. Currently, SMEs have more than11million which register inour industrial and commercial administration departments. Individual industrial andcommercial households have more than34million. High-tech SME has reached more than160,000. With the increasing number of high-tech SME, financing needs has also increased.Research shows that the problem of financing as well as lower financing efficiency issues, hasbecome an important obstacle to the sustained and healthy development of high-tech SME.How to solve this problem has become the focus of extensive research at home and abroad.This paper adopts qualitative, quantitative and comparative analysis for related researchon the problem of high-tech SME financing efficiency, then puts forward financing strategiesand recommendations to improve the efficiency of high-tech SMEs. I hope to solve thefinancing problems of SME to provide some reference.Firstly, this paper summarizes the theory of modern finance, analyzes financingefficiency of previous researchers,and exploratory defines the basic meaning of financingefficiency. Secondly, analyzes factors which affect financing efficiency of high-tech SME.Again, the paper selects high-tech SME in Beijing on GEM as samples, uses the DEA methodto the study of high-tech SME, and obtains that a considerable part of the high-tech SME hasa low financing efficiency. By comparing DEA non-effective high-tech SME and DEAefficient high-tech SME, obtains that the main factors affecting the financing efficiency ofhigh-tech SMEs is financing costs.Finally, puts forward the countermeasures and suggestionsfrom strengthening self-construction, expanding financing channels and strengthening policyand legal support. |
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