Research On The Financing Efficiency Of Software And Information Technology Services

In recent years,with the development of cloud computing,big data industrialization and the artificial intelligence,software and information technology services has a new economic growth point.At the same time,the industry also supports our country's economy to achieve"Intemet +"."big data +",and "intelligence +".As a high and new technology industry,the industry provides high-tech service and technology to basic industries,playing a vital role in the development of information technology and information.However,the enterprises of of tware and information technology services are small and medium-sized enterprises in our country,lacking in innovation,R&D spending less,poorer in core competitive ability.Those mainly is limited by the lack of money,but the characteristics of the industry and the development of capital market in our country determines the industry having difficult to obtain wholesale funding at present So enterprises urgently need to make full use of funds.improve operating performance,attract investors,and obtain more capital,so as to enter a virtuous cycle.So the industry is in urgent need to improve the financing efficiency.This paper summarizes the research results of domestic and foreign scholars,and sums up the theory of financing efficiency.This article analyzes the characteristics and financing present situation of software and information technology services,finding that there are many enterprise having difficult to obtain finance,and the main way is private placement.In addition to,financing way is single and financing channels are narrow.So the enterprise irgently need to improve the financing efficiency.Combining the feature of the industry,this paper has constructed the financing efficiency evaluation system to evaluate the financing efficiency of 146 enterprises,using three phases DEA method.The results of the study are as follows:the financing efficiency is low overall in the first stage and the third stage,and the development trend has a larger decline first,then rise.The low financing efficiency is mainly due to lower pure technical efficiency,so enterprises urgently need to improve their technology and management level.Comparing different sectors,we find that the gem board and new three board sample enterprises have higher financing efficiency,and the motherboard sample enterprises have lower financing efficiency.Comparing different regions,we find that enterprises in developed economic regions have higher financing efficiency.This paper use the Malmquist index analysis method to validate the trend of financing efficiency.Enterprise technology progress provides a positive contribution to enterprises' financing efficiency,but the enterprise efficiency changes restricts the financing efficiency.Finally,based on the present situation of low efficiency of enterprise financing,this paper put forward the proposals from the enterprise level and social level.