Financing Efficiency Assessment On The Smes In Anhui Province Newly Listed In "New Three Board"

China’s economic development has entered the "New Normal",which is at the critical transitional period.Small and medium-sized enterprises,SMEs for short,as one of the backbones of the national economy are of extremely important significance for China’s economy in breaking through the bottleneck and realizing the leapfrog development.SMEs in Anhui Province have made great achievements in various fields in recent years,which have significant impact on Anhui’ s economic development.However,shortage of funds has always been the most prominent issue that the SMEs in Anhui Province are facing in the development process.Meanwhile,the financial markets in Anhui develop too slow,without sufficient number of financial institutions and SMEs to match,hence the development of SMEs in Anhui Province haven’ t got enough support."New Three Board" as the tailored financing platform for SMEs,has attracted so much attention since its launch.SMEs in Anhui Province have joined in succession after the expansion of "New Three Board".By the end of 2015,the listed SEMs in Anhui province have reached to 117,in addition 6 companies await listing and 50 companies are in submission.However,how about the financing efficiency of SMEs in Anhui after landing the "New Three Board" market and how to effectively improve their financial efficiency are the questions that worth considering.This paper will systematically analyze and assess the financing efficiency of SMEs in Anhui Province after listing in the "New Three Board" based on the literatures of summary of studies home and abroad.The main contents of the full text are:firstly,mainly introduce the research background and significance,present summary of studies home and abroad on financing efficiency and identify the research objectives;secondly,define financing efficiency,financing and other related concepts,analyze the current main ways of corporate financing and the financing structure theory related to the assess of financing efficiency,to lay the theoretical foundation of the study;thirdly,make statistical analysis on the overall financing of the SMEs in Anhui Province,and then give appropriate description on New Three Board listing status of Anhui’ s companies,finally point out the factors that affect the financing efficiency;fourthly,mainly introduce two kinds of DEA models that used in the empirical analysis in this article,and select sample enterprises according to scientific and accurate principles,and finally select indicators that can effectively assess the financing efficiency subject to the sample enterprises;fifthly,statistical analyze the empirical results,use DEA model to analyze the financing efficiency of the sample enterprises and its input redundancy and output deficiency,and draw conclusions of this paper;sixthly,propose targeted suggestions and countermeasures for SMEs in Anhui province to improve the financing efficiency.