Research On New Broad Enterprises' Financing Performance

Financing has plagues the development of small and medium-sized enterprises in China. To develop the direct financing is the fundamental solution. The new three board market provides a direct financing channels for small and medium enterprises. So whether for small and medium-sized enterprises in the new three board market improving financing is very important for this study. So this article determine this research theme.Were reviewed in this paper the financing theory and the influence factors on the basis of enterprise financing, according to the enterprise performance evaluation method, comprehensive use of principal component analysis to construct the enterprise performance evaluation model, and the as of January 1,2014 listed and made of one or more equity financing or debt financing of 60 new three board listed companies as samples for empirical analysis. These real transparent clear business and financial data, belongs to the new three board is a typical enterprise, with the company as a sample of data is reliable, can represent the new three board of the company's overall level, using comparative analysis method before and after the analysis of financing performance value, and concludes that:(1) the new three board listed companies financing performance between value differences. Whether refinancing before or after the performance difference between evaluation value is larger. After financing performance value, for example, at most is 964.32, the minimum is-222.17. (2) most of the new three board listed sample values of the performance of the enterprise financing of different degrees of decline. In 60 new sample three board listing companies,16companies financing performance difference turned positive, accounted for 27%, the rest of the 44 enterprises financing performance difference is negative, accounted for 73%. After that 73% of the listed companies to finance their business performance has not grown much. The preliminary conclusion is consistent with descriptive analysis.Then, in view of the situation analysis of the factors affecting the cause of the new three board business financing performance decline, mainly due to the listed companies is uneven, the limited market financing function, market maker system and rotating plate mechanism through, etc. Finally, according to the reasons, and puts forward corresponding strategies, that is, put forward four, promote stratification mechanism, market maker system, perfect electronic call auction and smooth plate mechanism.This paper uses principal component analysis for the new three board listed companies financing performance evaluation, objectively reflects the new three board market financing present situation, the results to decision makers.