| 对我国新三板中小企业融资效率的实证分析 |
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| 引用本文： | 姚雪松,罗云,姚慧.对我国新三板中小企业融资效率的实证分析[J].西华大学学报(哲学社会科学版),2016,35(6):62-67. |
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| 作者姓名： | 姚雪松 罗云 姚慧 |
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| 作者单位： | 1.广东机电职业技术学院经济贸易学院 广东广州 510515 |
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| 摘 要： | 中小企业融资难问题由来已久，新三板具有挂牌门槛较低的特点，这为更多的中小企业开辟了新的融资渠道。本文运用DEA模型实证分析了我国62家新三板中小企业在2011年—2014年的总技术效率、纯技术效率和规模效率。从实证分析结果来看，我国新三板中小企业总体的融资效率不高，有近一半的企业存在融资较无效的问题。导致企业总技术效率不高的因素主要在于规模较小，大部分企业均为规模报酬递增，说明当前我国新三板中小企业面临的主要问题是规模较小，需通过融资扩大经营规模从而实现规模效应。但分年份来看，无论在总技术效率、纯技术效率还是规模效率，都可以发现新三板中小企业的融资效率在不断提高。
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| 关 键 词： | DEA模型 总技术效率 纯技术效率 规模效率 |
| 收稿时间： | 2016-06-13 |
An Empirical Analysis of Financing Efficiency for Small and Medium-Sized Enterprises of NEEQ |
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| YAO Xue-song,LUO Yun,YAO Hui.An Empirical Analysis of Financing Efficiency for Small and Medium-Sized Enterprises of NEEQ[J].Journal of Xihua University:Philosophy & Social Sciences,2016,35(6):62-67. |
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| Authors: | YAO Xue-song LUO Yun YAO Hui |
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| Affiliation: | 1.School of Economics and Trade, Guangdong Mechanical and Electrical Professional College, Guangzhou, Guangdong, 510515, China |
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| Abstract: | Financing difficulties of SMEs is a long-standing problem. NEEQ has the characteristics of lower threshold so that more SMEs can have access to financing channels. This thesis uses DEA model to do an empirical analysis about total technical efficiency, pure technical efficiency and scale efficiency of 62 NEEQ SMEs from 2011 to 2014. The empirical analysis shows the financing efficiency of NEEQ SMEs is not high and nearly half of the enterprises cannot have access to valid financing. The main reason for lower total technical efficiency lies in the small size of enterprises. The return to scale of most enterprises is increasing. That shows the main problem of NEEQ SMEs is small size of enterprises, which need expand the financing scale to achieve economies of scale. In terms of a particular year, regardless of the total technical efficiency, pure technical efficiency, and scale efficiency, the efficiency of financing for NEEQ SMEs can be found increasing gradually. |
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