| The small and medium-sized enterprise is an important force in the national economy and social development,for the small and medium enterprises,financing,financing has been a bottleneck restricting its development,and the emergence of the new board is no doubt to the small and medium-sized enterprises to develop a new financing channels.The number of listed companies from the point of view,the new board has become the foundation of the securities China’s largest market,on the one hand,enterprises listed three new board market unpopular,liquidity on the other hand,the new three board market is seriously insufficient,and the current research on the three new board listed the financing efficiency of enterprises is relatively small,this paper based on this background came into being.In this paper,and reviews the definition of financing efficiency,influencing factors of financing efficiency,financing efficiency evaluation methods of the literature and the enterprise financing theory,enterprise efficiency theory,the Shaanxi Province in the new three listed companies as the research object,analyzes the general situation of development and financing situation in Shaanxi province the third market,the Shaanxi province existing in the financing of Listed Companies in the study.Based on the existing literature,and combined with the analysis of the new board of Shaanxi province listed enterprise financing status and problems,to determine the total assets,asset liability ratio,main business cost as input index,return on net assets and the total assets turnover rate,the growth rate of main business income,earnings per share to construct the index system as output index,using DEA analysis method,the financing efficiency of the 60 enterprises carried out measure,The CCR model and BCC model are used to calculate the comprehensive technical efficiency,pure technical efficiency and scale efficiencyAccording to the empirical results show that although the three new board listed companies in Shaanxi Province,the pure technical efficiency is relatively high,but most enterprises are in the stage of increasing returns to scale,the scale of financing,the scale efficiency is low,resulting in the value of the overall efficiency is low,most of the enterprises did not reach the DEA effectively in the existing state,output and input level there is a gap between the relatively optimal output,low financing efficiency,integration of funds have not been effectively used.Finally,according to the conclusion of empirical analysis,put forward measures and suggestions to promote Shaanxi Province,three new board listed the financing efficiency of enterprises management from enterprises in this province and government level two angles. |
