新三板融资效率问题研究——以内蒙古挂牌企业为例论文

摘要

在激烈的市场竞争中，为了顺应时代的发展，中小企业必须扩大经营规模，由于当前企业融资渠道单一，而新三板挂牌刚好满足企业融资渠道扩充需求。为了探究新三板在企业挂牌中的应用现状，进一步提高企业融资效率，本文以内蒙古挂牌企业为例，围绕新三板融资效率问题展开研究。通过分析内蒙古挂牌企业运营基本情况，挖掘挂牌企业融资存在的问题。通过合理选取指标，构建DEA模型，对挂牌企业融资效率进行实证分析。分析结果表明，新三板挂牌可以改善企业规模效率，但是未能达到预期目标，且技术效率出现了下降趋势。为了充分发挥新三板融资作用，本文提出了优化企业内部管理水平，扩宽融资渠道，加强融资效率提升意识，加强企业协作共同发展4项问题解决建议，旨在为新三板融资效率改善工作的开展提供参考依据。

关键词：新三板，融资效率，中小企业

Abstract

In the fierce market competition, in order to comply with the development of the times, small and medium-sized enterprises must expand their business scales. Because the current corporate financing channels are single, the listing of the new third board just meets the expansion needs of corporate financing channels. In order to explore the application status of the New Third Board in the listing of enterprises and further improve the efficiency of corporate financing, this article takes the listed companies in Inner Mongolia as an example to conduct research on the issue of financing efficiency of the New Third Board. By analyzing the basic situation of the operation of listed companies in Inner Mongolia, the problems of financing of listed companies are explored. Through reasonable selection of indicators, a DEA model is constructed to conduct an empirical analysis of the financing efficiency of listed companies. The analysis results show that the listing of the New Third Board can improve the scale efficiency of enterprises, but it fails to meet the expected goals, and the technical efficiency has a downward trend. In order to give full play to the financing role of the new third board, this paper puts forward four suggestions to solve the problems: optimizing the internal management level of enterprises, widening the financing channels, strengthening the awareness of raising financing efficiency, and strengthening the cooperation and common development of enterprises, so as to provide reference for the improvement of financing efficiency of the new third board.

Keywords: New Third Board, financing efficiency, SMEs

目录

前言 (1)

第一章相关理论概述 (2)

1.1新三板概述 (2)

1.1.1新三板基本情况 (2)

1.1.2新三板企业融资方式 (2)

1.2融资效率概述 (2)

1.2.1融资效率概念 (2)

1.2.2融资效率影响因素 (3)

1.3融资理论 (3)

1.3.1权衡理论 (3)

1.3.2优序融资理论 (3)

第二章新三板融资现状分析以内蒙古挂牌企业为例 (4)

2.1股票发行 (4)

2.2营业收入 (4)

2.3地区分布 (5)

2.4行业分布 (5)

2.5企业新三板融资效率现状分析 (6)

第三章新三板融资存在的问题 (8)

3.1挂牌企业质量参差不齐 (8)

3.2融资渠道单一，融资效率偏低 (8)

3.3企业缺乏融资效率提升意识 (8)

3.4新三板企业融资流动性较差 (8)

第四章基于DEA模型的融资效率实证分析 (9)

4.1指标的选取 (9)

4.2模型的构建 (9)

4.3实证分析 (10)

4.3.1技术效率对比分析 (11)

4.3.2规模效率对比分析 (11)

第五章新三板融资效率问题解决建议 (13)

5.1优化企业内部管理水平，提高企业质量 (13)

5.2扩宽融资渠道，提高融资效率 (13)

5.3加强融资效率提升意识，不盲目扩张 (13)

5.4加强企业协作共同发展 (14)

结论 (15)

致谢 (16)

参考文献 (17)