科技型中小企业融资能力理论研究与实证分析

提高科技型中小企业的融资能力是化解企业资金短缺难题的有效途径。在梳理现有研究文献的基础上,认为科技型中小企业融资能力的内涵应包括企业的创新能力、成长能力、财务能力和环境成本因素四个维度。选用层次分析法和模糊综合评价法作为测度方法,构建了由4项一级指标、10项二级指标、28项三级指标组成的科技型中小企业融资能力评价指标体系。结合我国科技部科技型中小企业创新基金管理中心对受资助的30家企业的考核指标、有关文献以及专家评分的统计分析结果,构建判断矩阵,分别计算各项指标的权重系数,最终构建出科技型中小企业融资能力的评价模型。通过随机选取10家科技型中小企业进行样本分析和实证检验,结果表明,该套评价体系能有效帮助鉴定、分析和提高科技型中小企业的融资能力。

Theoretical study and empirical analysis of the financing capacity of S&T SMEs

To improve the financing capacity of high tech SMEs is an effective way to resolve the problem of the shortage of enterprise funds. A literature review of existing research finds that the financing capacity of S&T SMEs should include enterprise innovation ability, growth ability, financial capacity and environmental cost. Using the analytic hierarchy process and fuzzy comprehensive evaluation method, this study constructs an evaluation index system of financing capacity of S&T SMEs as composed of 4 first level indexes, 10 second level indexes, and 28 third level indexes. Based on the evaluation indexes by the Ministry of Science and Technology on the 30 funded enterprises, relevant literature and expert evaluation results, the study constructs an evaluation model of financing capability of S&T SMEs after building judgment matrix and calculating the weight coefficient of each index. Further sample analysis and empirical test of randomly selected 10 SMEs proves the effectiveness of this evaluation system in helping identifying, analyzing and improving the financing capacity of high tech SMEs.