Research On Financing Dilemma And Strategy Of YFQM Automobile Company

Since the reform and opening up,small and medium-sized enterprises,as the promoters and profitable groups of China’s rapid economic growth,play an increasingly important role in the whole economic life.YFQM automobile company studied in this paper is just one of thousands of small and medium-sized enterprises.The company has developed from small and micro enterprises in the early stage of entrepreneurship to medium-sized enterprises with a certain scale and local popularity.In the process,it constantly faces a development dilemma that puzzles most small and medium-sized enterprises-financing dilemma.Through the case analysis and literature review of YFQM company,it can be seen that the factors that cause financing difficulties often come from many aspects.In this context,the study of the principles behind each factor and the formulation of effective response strategies can bring certain guiding significance to the majority of small and medium-sized enterprises to deal with financing difficultiesBased on this,this paper takes YFQM Automobile Company as the research object,analyzes the innovative ideas from the perspective of investors,introduces the life cycle theory,control power theory and order theory,and lays a theoretical foundation for analyzing the factors affecting the financing difficulties of YFQM automobile Company.By analyzing the financial situation in the past ten years,this paper summarizes four financing difficulties: high financing cost,single financing channels,stricter financing policies and large financing gap.After analyzing the impact of enterprise growth ability,risk control ability,internal accumulation level and other capabilities on some financing,based on the financial indicators of YFQM Automobile Company from 2010 to 2019,the paper makes an empirical analysis of the above factors with qualitative and quantitative analysis.The empirical analysis results show that the company’s growth ability,company turnover ability,risk control ability and internal accumulation level are significantly negatively correlated with the company’s financing predicament.The indicators of macroeconomic factors are correlated with the company’s financing predicament,but the significance is weaker than its own factors.In the end,the conclusion of empirical analysis is used to put forward the coping strategies for financing difficulties from the aspects of corporate self-improvement,scientific establishment of financing channels,and active grasp of favorable policies.