The Research On Financing Strategy Of N Technology Company

High and new technology enterprise mainly rely on bank credit,and bank loan program trival,low efficiency,strict guarantee,the enterprise itself can mortgage tangible assets ratio is not high,so the guarantee agencies for their own benefits and risks of consideration,is not willing to provide guarantee for high and new technology enterprise,or even provide assurance also provides higher ratios,as high as 100%,this is undoubtedly increased the high and new technology enterprise financing difficulty.Based on the theory of information asymmetry,financing order theory,life cycle theory,combined with N technology company profitability,solvency,operating and financial situation and financing,guarantee conditions,analysis of the company in the financing problems,and then analyzes the cause of its financing difficulties,design the financing predicament dissolve the train of thought,and on the basis of the company in the prospects for the development of the industry,company development strategy and competitive advantage,design the financing strategy design principles and financing strategy.Based on N technology co.,LTD.Is a technology of small company,as a case,given the financing strategy,able to provide a small and medium-sized enterprise financing problems resolve financing model reference.At the same time,its financing strategy feasibility is strong,can be applied to the N actual financing operation technology company,has strong practical value.The plight of the main research conclusions:based on the designed to dissolve,and take the industry prospects,development strategy and competitive advantage for the financing strategy basis,with the lowest cost of financing,financing,risk minimum,financing strategy behavior design principle,from the bond financing,financing,equity financing,life cycle period four Angle of financing strategy is designed.Among them,the creditor's right way strategy:credit financing,intellectual property pledge financing(using 11 computer software copyright,and 6 patents of utility model)and high quality customer accounts receivable pledge or mortgage finance,a new three board equity pledge financing,financing lease after-sales leaseback(IDC room).The strategy of equity strategy:to raise finance on demand,and to reduce the number of different rules for the secondary issue;The IDC industry fund will be guided by the government.Financing strategies based on life-cycle perspectives:accelerating the growth phase with an organic combination of internal financing,debt financing and equity financing;Stability in the long term,enter the innovation layer of new three board or the board of change board,obtain fund;In the maturity stage,the company listed is the first choice and merger and reorganization;In a recession,corporate liquidity can be done through commercial bank credit,which is financed largely by profits and equity investments throughout the life cycle.Financing strategies based on the financing term perspective:short-term,apply to the commercial bank for the credit loan with the loan;In the medium term,a commercial bank with a maturity of 1 to 3 years of mortgage,5 years or more of financing leases;In the long run,choose equity financing.