Impacting Factors Of Shanghai Hi-tech SME Financing

This paper attempts an empirical study to find the impacting factors of corporate financing. This paper also analyze whether these factors play a role or not, then give out recommendations.In recent years, with the position of SMEs in the national continues to improve, and the role of hi-tech enterprises continue to be discovered, SME development has been widespread concern. SME financing problem attracts more and more scholars to study.Research methods, in combination of qualitative and quantitative methods, have involved the concept of SME financing, policies made by Shanghai Government, factors impacting SME financing, policy recommendations.In the empirical analysis, this paper selects the samples on the basis of Shanghai hi-tech companies listed on small and medium enterprises board. In order to analyze factors influencing the loans availability of these enterprises, the paper selected weighted average return on equity, asset-liability ratio, current ratio, book value and net operating cash flow as factors in each sample. Through cluster analysis, all samples logistic regression, logistic regression after samples classified, we conclude the empirical conclusions.Finally, we make relevant policy recommendations for financial services institutions such as improving the credit guarantee system, creating conducive environment for venture capital,.