文献类型：期刊文献

中文题名：新三板挂牌公司融资效率实证分析

英文题名：An Empirical Study on Financing Efficiency of Companies in New Third Board Market

作者：杨国佐[1];张峰[2];陈紫怡[2]

第一作者：杨国佐

机构：[1]山西财经大学财政金融学院;[2]北京联合大学管理学院

第一机构：山西财经大学财政金融学院,山西太原030006

年份：2017

卷号：38

期号：2

起止页码：48-53

中文期刊名：财经理论与实践

外文期刊名：The Theory and Practice of Finance and Economics

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2014】；CSSCI:【CSSCI2017_2018】；

基金：北京哲学社会科学规划项目(15JGB095);北京市自然科学基金项目(9142006)

语种：中文

中文关键词：新三板;融资效率;DEA模型

外文关键词：national equities exchange and quotations; financing efficiency data envelope analyse model（DEA）

摘要：以资产总额、主营业务成本、财务费用、资产负债率作为投入指标,总资产周转率、净资产收益率、主营业务收入增长率为产出指标,运用DEA方法,对597家新三板挂牌公司2012-2014年的综合技术效率、纯技术效率和规模技术效率进行实证分析。结果显示:我国新三板挂牌公司的融资效率逐年提高,然而融资效率普遍偏低。进而从经济环境和企业自身两个方面,分析了融资效率偏低的原因,并从政府和企业两个角度提出了对策建议。
Based on the total assets,the main business costs,financial costs,debt to assets ratio as input indicators,output indicators,total assets turnover,rate of return on common stockholders＇ Equity,the main business revenue growth rate,this paper conducted an empirical analysis of the comprehensive technical efficiency,pure technical efficiency and scale efficiency of 597 company 2012-2014 using the DEA method.The results show that the financing efficiency of China＇s listed company increased year by year,but the financing efficiency is generally low,the reasons of the financing efficiency analysis further from the economic environment and the enterprises themselves in two aspects,and put forward specific countermeasures and suggestions from two angles of government and enterprises.