Research On The Influence Of Financing Constraint On Innovation Efficiency Of NW Company Group

With the acceleration of economic globalization and scientific and technological revolution,enterprises need to seek sufficient competitive advantages to support the long-term development of enterprises must innovate.Innovation efficiency has become an important criterion to measure the innovation ability,competitiveness and potential of enterprises.Enterprises need a lot of capital for innovation activities,but the scale of assets and credit resources are limited,and the internal cash flow is insufficient,which makes enterprises have to face the problem of financing constraints.How can the innovation efficiency constrained by financing be continuously improved? At present,domestic scholars mainly focus on the evaluation of innovation efficiency,management governance,and the influencing factors of innovation efficiency.There are few studies on the relationship between financing constraints and innovation efficiency.Firstly,this paper defines the concept of financing constraints and innovation efficiency,and then,based on several important theories,analyses the relationship between financing constraints and innovation efficiency.Through case analysis,this paper explores the impact of financing constraints on innovation efficiency by analyzing NW companies.The theory combines with practical cases,establishes models and analyses the impact of capital constraints on innovation efficiency from different financing channels.According to the conclusion of the final study,this paper puts forward suggestions and future research prospects to improve the innovation efficiency and ease financing constraints of NW company.Through the case analysis of NW company,the following conclusions are drawn: first,NW company faces financing constraints;second,NW company's innovation efficiency is insufficient;third,NW company's financing constraints have a negative impact on NW company's innovation efficiency.According to the research conclusion,combining with the enterprise's own situation,the external market and the industry environment,this paper puts forward some countermeasures and suggestions to alleviate financing constraints,improve innovation investment and innovation efficiency: first,compliance management;second,multi-channel financing;third,strengthening innovation investment;fourth,improving innovation efficiency;fifth,improving information coverage.Dew mechanism.