Small And Medium Sized Enterprises Financing Strategy Analysis Based On Three New Board Market Perspective

In China's rapid economic development of the situation,as an economic subject of small and medium enterprises,the importance of economic and social status have been prominent.From the overall development of the world economy,although the small and medium-sized enterprises has been of concern for governments and support the object,but the financing problem has been an important bottleneck problem of the development of SMEs in China.The enterprise has more than 80% of the financing from financial institutions as the representative of the bank loans to participate in direct financing,enterprise is very few,and are affected by their development capacity constraints,related system of the motherboard market also limits the development of equity financing channels for small and medium enterprises.At present,China's new third board market development growth,the market capacity is in rapid growth,expanding the financing channels for small and medium-sized enterprises and the connecting board financing market to provide convenient at the same time,also for multi-level domestic capital market construction.Base.Until the year 2015,new board registered enterprises more than 5000,is the country's largest equity transfer center.New San ban market for the development of small and medium-sized enterprises to an important role,in the current domestic small and medium-sized enterprise financing difficult background,to explore new San ban market for small and medium-sized enterprises;financing;influencing factors is particularly important.Based on the financing situation of our country's new third board market for small and medium-sized enterprises,use empirical analysis method to study the new San ban market of small and medium-sized enterprises financing factors.Selected 2010-2013 during the new San ban market listed companies as research samples using financial data of the enterprise for the year 2015 that required for the study variables,based on theoretical analysis and design related regression model,and then substituted into the sample data,regression analysis and empirical test for the new San ban market financing of small and medium-sized enterprises of influencing factors.Empirical results show that: enterprise scale,enterprise growth and enterprise asset collateral value and new San ban market of small and medium-sized enterprises financing ability has apositive correlation;the market competitiveness of enterprises and enterprise turnover ability and new San ban market of small and medium-sized enterprises financing capacity is negative correlation;the profitability of enterprises,enterprise to resist risk ability and the enterprise's internal accumulation level in the model of the significant test did not pass the test,and theoretical assumptions inconsistent.After the empirical test,in this paper,the author uses the case analysis in the new San ban listed company s,first of all the financial data of S company statistics,and financing scale and asset liability rate were compared.Then apply the conclusions of empirical research and the analysis results are explained.At the end of this paper,combined with the conclusion of the study analysis the reasons of financing difficulties of small and medium-sized enterprises,and puts forward the improving suggestions for our new San ban market SMEs financing ability.