Research On Financing Efficiency For Small And Medium Enterprises In New Third Board Market

The economy of small and medium-sized enterprises in China's market economy is an important part of the economic development of small and medium-sized enterprises good is of great significance for enhancing China's market economic vitality,solve the employment problem,but low financing efficiency problems have long plagued the development of small and mediumsized enterprises,it is necessary to study the financing problem of small and medium enterprises.This paper selects the financial index data of 2006-2015 the three new board listing of small and medium-sized enterprises,comparative analysis of the financing efficiency of SMEs listed three new board before and after the use of SPSS linear analysis the influence factors of financing efficiency in three new board listed smes.The study found that: the new three board market is gradually improving and upgrading,listed on the new board is good for small and medium enterprises,growth ability,profitability has a positive impact on the efficiency of financing;equity multiplier(capital structure)have a negative impact on the rate of return on net assets,that the financing efficiency is negatively correlated with the extent of liabilities;affect the operation ability and debt paying the ability of financing efficiency is not significant.Three new board market existing problems according to the results of empirical analysis,and listed on the new board to encourage more from small and medium-sized enterprises;strengthen the efforts to attract investors;improve the transfer system,the establishment of green channel board;small and medium enterprises to strengthen self construction,improve the management level;the government should strengthen the five suggestions support for small and medium enterprises to improve the financing efficiency of the new board of small and medium sized enterprises.