Research On Financing Risk Of Biopharmaceutical High-tech Enterprises

High-tech companies as a national important economic growth point,has become an important part in the process of international economic integration development.There is a strong relevance between the high-tech enterprises and this nation's economic development and it's people's living standard.High-tech enterprises are featured by small proportion of material assets,big proportion of immaterial assets,high period debt ratio,strong financing demand and long financing cycle and so on.During the financing process,the ability to pay debts with tangible assets is limited,the financing risk is higher,how to control the financing risk,and keep the enterprise normal operation,and constantly develop and grow,is an important financial problem.As a new industry,biomedicine industry is the most active and developing field in high-tech pharmaceutical enterprises.It is recognized as one of the most promising industries in twenty-first Century.Its development is related to the health of the people's livelihood and the well-being of the people.Therefore,it is necessary to study the financing risks of the high-tech enterprises of biological medicine.The paper is divided into five parts.Firstly,this paper clarifies the financing risks of high-tech enterprises in China and abroad through the analysis of literatures,and defines the applicability of fuzzy comprehensive evaluation method to the financing risk assessment,and then clarifies the research contents and methods of this paper.Then introduces about the present situation of biopharmaceutical high-tech enterprises' financing development and their problems.This part firstly make clear the connotation,the situation,the risks and characteristics of biopharmaceutical high-tech enterprises' financing,and then analyze their financing methods and problems.The risk factors are analyzed from three aspects of state,enterprise and financing.Then use fuzzy comprehensive assessment to construct that financing risk evaluation model of the high-tech enterprise of biopharmaceuticals,classify the financing risk as the risk of financial index class and non-financial index,choose 143 biopharmaceuticals enterprise as sample to divide the risk category and calculate the weight of the risk of the financial index risk factor analysisand finally get the financing risk assessment model.In order to demonstrate the rationality of the built model in practical application from the perspective of the actual operation of the enterprise,this paper selects a biomedical enterprise to conduct the empirical test of the financing risk model,and combines the applicability of the enterprise's actual operation data verification model.Finally,this paper puts forward reasonable suggestions and countermeasures for the financing risks of non-financial and financial types in the high-tech enterprises.