The Financial Management Of The High-tech Enterprises

Hi-tech enterprises are the ones that take the lead in adopting high and new technology and manufacture high value-added products. Compared with traditional enterprises, hi-tech enterprises are less dependent on natural resources, but more dependent on funds input and knowledge capital. During the process of research and development of new products, the risk might be created from finance and technology exists in the each and every stage of hi-tech enterprises' development. Therefore, hi-tech enterprises have the characteristics of high input, high risk and high return. Hi-tech enterprises have played very important role in economic development, and the ideas, methods and strategies of their financial management are totally different from those applied in the traditional businesses that rely more on natural resources, since the coexisting of high growth and high risks. As a result, the study of financial management in hi-tech enterprises is of highly significance. This paper adopts some normative research methods of combining theories analysis with empirical study, the microcosmic characters with macroscopic behavior, and qualitative analysis with quantitative study. Based on a comprehensive and detailed analysis on the characteristics of hi-tech enterprises, the paper delves into the studies about the innovations in financial target and financial relationship, the management of financing and investment, risk aversion, income distribution and rate-paying design, for the purpose of taking advantages of knowledge capital possessed by the hi-tech enterprises, and making them to play more important role in national economic development.