Research On The Financing Efficiency Of The Three New Board In Fujian Province

The new three-board market,did not develop well in China until 2013 capacity of the new three-board market was expanded and in 2016 a new three-tier market ranked management system was introduced.The new three board listed companies only appeared in the number of blowout type development,which not only accelerated the transformation of China’s capital market was originally presented inverted pyramid-type structure,but also to promote the new three-board market system and further refinement and gradual improvement.Since its inception,the new three-board market is positioning to provide financing platform and is committed to improve the financing environment.As the largest share of China’s economic.market share,small and medium enterprises(SMEs)can exploit the new three-board financing channels and make the funds raised to the greatest extent to be configured,which relate to the current and future evolution of the new three-board.It connect to maturing of the companey,and linked with sound development of the capital market and rational allocation of resources.Based on the theoretical research on the financing structure and financing efficiency,this paper uses the questionnaire survey to explore the financing situation of enterprises in the new three-board market in Fujian Province,and qualitatively analyzes the financing problems of SMEs in this area.Secondly,analyze the financing efficiency of the enterprises in the new three-board market in Fujian Province by DEA method.Finally,we select one of the companys in the new three-board market of Fujian Province,and compare the situation and efficiency before and after listing on the new three-board market in Fujian Province.Ultimately,the financing efficiency of SMEs in the new three-board market is comfirmable and the financing efficiency of enterprises listed on the new three-board companys in Fujian Province is improved by suggestion to them.