基于DEA的上市科技型中小企业融资效率评价

为了解上市科技型中小企业的融资现状,运用数据包络分析方法,以深圳创业板2009年至2012年初次发行股票的38家上市科技型中小企业为研究对象,对其融资效率进行综合评价,评价结果为只有15.79%的上市科技型中小企业融资综合有效,55.26%的企业既未实现技术有效,也未实现规模有效。与以往研究结果相比,中国上市科技型中小企业的融资效率有所提升,但总体效率仍然偏低。从政府和科技型中小企业自身角度出发,针对性地给出了科技型中小企业提高融资效率的意见和建议。

Financing efficiency evaluation of listed high-tech SMEs based on the DEA method

To understand the present financing situation of the listed high-tech small and mid-sized enterprises(high-tech SMEs),by using the method of data envelopment analysis(DEA),this paper evaluates the financing efficiency of 38 listed high-tech SMEs which are initially public offered in Shenzhen growth enterprise market from 2009 to 2012. And the results show that only 15.79% of the samples can achieve technique efficiency,while 55.26% of the samples have realized neither pure technique efficiency nor scale efficiency. The financing efficiency of China Listed High-tech SMEs has been improved compared with previous research,though overall efficiency is still low. Furthermore,from the perspectives of the government and high-tech SMEs,ways to improve the financing efficiency of high-tech SMEs are put forward.