Research On Ways To Improve Financing Efficiency In The Listed Company Of Garment And Textile Industry

As a Chinese traditional pillar industry and important people's livelihood industry,textile and garment industry has been the country's tax profit and the export of foreign exchange.It provides a large amount of capital and foreign exchange for the country,and is related to the employment of a large number of people.Chinese textile and clothing enterprises are facing the key period of successful transformation or unsustainable development.If the financing problem cannot be solved effectively,the flow of funds is not smooth,it seriously restricts the survival and development of the enterprises and affects the social stability.Therefore,it is of great theoretical and practical significance to study the financing efficiency of the textile and garment listed companies.This paper selects 52 listed companies in the textile and garment industry and makes an empirical analysis based on the data of the three years from 2014 to 2016.The research on the factors influencing the financing efficiency of the textile and garment listed companies,considering that the development of the garment industry is inseparable from the macro economic development,therefore,the factors that affect the financing efficiency of the textile and garment companies should also come from the two aspects of the macro and micro levels.At the macro level,combined with the operation of the domestic economy,the micro level is mainly the company's own assets,operating capacity,financing methods.After analyzing the development and financing situation of the listed textile and garment companies,the reasons that affect the financing efficiency of the listed companies in China's textile and garment industry are found out.Then the DEA model is used to construct the evaluation index and model of the financing efficiency of the listed companies of textile and garment industry in China,and the financing of the listed companies of textile and clothing industry is raised.This paper makes a dynamic and static analysis of efficiency,and explains and analyzes the financing efficiency of textile and clothing listed companies in 2016 and the changes of financing efficiency in these three years.Finally,taking technical efficiency as the explanatory variable,domestic economy,company scale,operation ability and financing way are the explanatory variables,the Tobit regression model is used to analyze,and some suggestions are put forward for the regression results.China's textile and garment listed companies have failed to achieve the efficiency of financing.After the regression analysis,the factors that affect the financing efficiency of the listed textile and garment companies are multiple.In view of this,in reality,we should further broaden the financing ways and channels for the textile and garment industry.While the textile and garment industry is integrated with the necessary funds at a reasonable cost,it should also improve the use of funds to improve the overall financial efficiency of the industry and promote the healthy and rapid development of the industry.Textile and apparel listed companies should enhance their competitiveness,enhance their own profitability and focus on innovation.We should take concept innovation as the guide,science and technology innovation as the focus,mechanism innovation as the guarantee,implement key breakthroughs,constantly tamp the foundation of fashionable industry,fully integrate and utilize resources,and promote high-quality development of the industry.