小微企业市场融资环境的变动分析
关键字 小微企业 融资方式 融资环境
毕业论文外文摘要
Title Changes in Financing Environgment of Small and Micro Enterprise Market
Abstract
Small and micro enterprises are the important part of the present Chinese enterprises, but most of them are faced with the problem of financing difficulty and financing channel sole. This paper expounds the financing difficulties of small and micro enterprises, sums up the traditional and new financing methods, and analyzes the financing environment of small and micro enterprises in recent years. Through the comparative analysis of the number of newly listed companies on GEM market share and companies listed on GEM earnings ratio in recent years, we analysis Chinese small and micro enterprise’s financing environment changes. Then using price-earnings ratio statistics, trading volume, the GEM index, turnover amount and total market capitalization of listed companies of the Shenzhen Stock Exchange weekly GEM market to make cointegration analysis and ordinary least squares regression .Data analysis showed that, with the introduction of support policies and new financing methods, small and micro-enterprises’ financing environment has been significantly improved and financing efficiency has also improved. The results show that there is a long-run equilibrium relationship between earnings and GEM index,trading volume, turnover and total market capitalization of listed companies.
Keywords：small and micro enterprises financing environment financing methods
目 次
1 序言2
1.1 研究背景与意义2
1.2 研究内容与方法2
2 文献综述3
3 小微企业的发展与融资现状4
3.1 小微企业发展现状4
3.2 小微企业融资困境5
3.3 小微企业的主要融资方式5
3.4 小微企业融资方式的创新6
4 小微企业融资环境的变动7
4.1 内部融资环境8
4.2 外部融资环境8
4.3 资本市场 11
5 创业板市场数据分析 10
5.1 统计数据分析 10
5.2 创业板实证分析 12
结论17
致谢19
参考文献20
图表目次
图5.1 创业板新上市企业占比折线图 10
图5.2 创业板成交数量折线图 10
图5.3 创业板股票成交量所占比重折线图 10
图5.4 创业板市盈率变动 11
图5.5 协整检验 13
表5.1 单位根检验 12
表5.2 普通最小二乘估计 13
表5.3 异方差检验 15
表5.4 广义差分法 16
下一篇：影子银行对中小企业融资的影响