创业板上市公司融资效率实证研究
上述问题的存在表明：创业板上市公司融资效率问题严重，亟待解决。本论文在相关理论研究的基础上，采用DEA方法对创业板上市公司融资效率进行实证分析。研究表明，我国创业板上市公司融资效率较低。
关键词 创业板上市公司 融资效率 DEA
毕业论文外文摘要
Title An Empirical Study of GEM Listed Companies’ Financing Efficiency
Abstract
October 30, 2009, the GEM board long-awaited by China’s capital market opened in the Shenzhen Stock Exchange Trading. GEM is an important part of the multi-level capital market, mainly to provide financing to innovative SMEs to solve their financing difficulties. Rapid development of the GEM effectively promoted the development of the start-ups, venture capital and strategic industries and made tremendous contributions to the national economy. At the same time, the GEM market also has many problems. For example, idle funds over widespread, the results changed, leaving of senior officials and senior officials made cash out. Most problems of the GEM reflected the financing inefficient. The problems will not only restrict the growth to the listed companies on GEM, damage the interests of minority shareholders, but also lead to the social resources waste and inefficient operation, thereby affecting the upgrading of industrial structure and the sustained and stable economic development.
The problems above showed: the financing efficiency of GEM is serious. The study based on the theoretical research, used DEA to empirically analyze financing efficiency of listed companies on GEM. Study shows that the financing efficiency of listed companies on GEM is lower.
Keywords financing efficiency GEM listed companies DEA
目 次
1 引言 1
2 融资效率的相关理论 2
2.1 融资效率的概念 2
2.2 融资方式的类型 3
2.3 融资效率评价的理论基础 4
3 创业版上市公司融资效率的研究综述 6
3.1 国外研究现状 6
3.2 国内研究现状 7
4 研究设计 8
4.1 数据包络分析模型(DEA) 8
4.2 样本来源 9
4.3 评价指标的选取 9
4.4 数据处理 10
5 实证分析 11
5.1 DEA模型分析 11