| Small and medium-sized enterprises are the backbone Chinese macroeconomy, plays an important role in the promotion of enterprise innovation ability, expanding employment and change the mode of economic development. The decision mechanism of small and medium-sized enterprise flexibility, low cost, in the face of the opportunities vary from minute to minute and the diversification of the market demand is very strong ability to adapt, especially in the economy in the new normal, the innovation ability and the mechanism is also has a great advantage. By the end of 2013, the number of small and medium-sized enterprises registered in China has more than 42 million, accounting for ninty percentage of the total number of enterprises of small and medium-sized enterprises to create, occupy sixty percentage of the country Chinese economy. However, corresponding with the important role of small and medium-sized enterprises to the national economy plays, small and medium-sized enterprise development present situation is worrying. The source of funds and the efficiency in the use of one of the most important issues is the small and medium-sized enterprise. The fund is the enterprise production and development of the important production resources, plays an important role in each stage of enterprise life cycle. Especially for the small and medium enterprises, the source and use of funds is the enterprise can produce and decisive factor of sustainable management. On the one hand, according to the assets and the company management of small and medium-sized enterprises disadvantage, source of funds is the first problem of small and medium-sized enterprises face; on the other hand, the efficiency in the use of funds, small and medium-sized enterprises are also very difficult to achieve the technical and scale efficiency.In view of this, this paper focused on the problem of the financing efficiency of small and medium-sized enterprises, expand the detailed description and the proof from the perspective of regional economics to the small and medium-sized enterprise financing efficiency problem of the Beijing Tianjin Hebei region. On the efficiency of enterprise financing theory as the basis, an analysis of the factors influencing the financing efficiency of small and medium enterprise financing present situation, through detailed analysis of Beijing Tianjin Hebei region of small and medium-sized enterprises, analysis of small and medium-sized enterprises in the area of financing and low efficiency reasons, and for small and medium-sized enterprises in Beijing Tianjin Hebei region to improve the financing efficiency of rationalization proposals.In the empirical analysis, this paper first uses a lot of data analysis, summarizes the development status of small and medium sized enterprises in Beijing Tianjin Hebei region; secondly, in order to make the quantitative analysis of the area of middle and small enterprises financing situation, this paper selects the national equities exchange and quotations registered in Beijing Tianjin Hebei region in the 267 listing for small and medium-sized enterprises the study sample, using the data envelopment analysis method from the financing efficiency, financing efficiency change, regional and industry and other aspects made a detailed empirical analysis on the financing efficiency of the area. Finally there is the efficiency of financing problem of small and medium-sized enterprises in Beijing Tianjin Hebei region, multiple angle in this paper from the enterprise itself, the financing channel construction and the law policy related suggestions are put forward. |
