| Financing has plagues the development of small and medium-sized enterprises in China.To develop the direct financing is the fundamental solution.The new third board market is a way to solve the problem of direct financing for SMEs.The current development of the NEEQ market has created favorable conditions for the financing of SMEs in China,especially for the development of innovative,high-growth SMEs.Since June 27 th,2016,the stratification was officially introduced in the new third board market,the companies that have entered the innovation level are all high-quality companies in the new third board market,they have strong advantages in profitability and growth ability.In order to understand the effect of financing of innovative companies in the the NEEQ after market stratification,this paper studies the operating performance of the NEEQ innovation company.This paper selects typical companies that from theNEEQ innovation layer.The data obtained from these companies is true and reliable,and can represent the overall level of the NEEQ innovation company.The principal component analysis method was used to analyze and evaluate the financing performance of 60 companies.comparative analysis method is to be used to analyze the performance value before and after financing,and come to the conclusion: Most of the NEEQ innovation sample companies listed in the sample showed a different degree of decline in performance after financing.The empirical results of this paper show that the financing effect of the new three-board innovation enterprise is not particularly satisfactory.Therefore,improving the company's own strength,the introduction of pooling bids,increasing the enthusiasm of brokers and market makers,actively promoting post-stratification policy improvement,and setting the implementation of measures such as differentiating thresholds will all be suggestions for improving the financing situation of NEEQ. |
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