Study On Financing Method Combination Selectiong And Strategy Of High-tech Enterprises

With the arrival of knowledge and economy ages,high-tech enterprises have become significant economic pillars for national development and the major force guiding the world economic development.The enormous contributions that high-tech enterprises have made in promoting market competition,improving the production efficiency,achieving industrial structure optimization and creating employment opportunities have gradually become obvious.The stability and well development of high-tech enterprises will play an important role in China's overall economy development and the comprehensive construction moderate prosperity society.The main characteristics of high-tech enterprises are high risk,high technology and high investment,and financial issues have become a major obstacle to the development of high-tech enterprises,so financing strategy is an important way to promote the development of high-tech enterprises.At present,the study on financing of high-tech enterprises is quite systematized abroad,at the macro aspect it mainly discusses the enterprise financing issues from the financing structure theory;at micro aspect it mainly indicates that venture investment is more suitable for financing of high-tech enterprises.The domestic study mainly focuses on financing difficulty analysis and financing problems solving of high-tech enterprises,it proposes establishing financing system of high-tech enterprises,unifies the venture capital and the muti-level capital maekets to settle financing dilemma.However,at home and abroad,the study on financing method combination based on the life cycle is few.Therefore,by setting evaluation indexes system,it is valuable to choose the financing method combination and provide specific financing strategy for hightech enterprises.The dissertation analyzes financing channels and financing needs for hightech enterprises,summaries financing problems of high-tech enterprises based on life cycle.In accordance with the above problems,it analyzes the cause of the problems from internal and external aspects of high-tech enterprises.According to the lifecycle theory,four phases including seed phase,initial phase,growing phase and mature phase,the financing method combination is addressed.By applying fuzzy comprehensive evaluation method,the combination order is chosen,and the specific financing strategies are given.Taking Harbin Jiu zhou electrical Co.,LTD as an example,it ranks financing combination in the growth phase,providing strong evidence for making financing strategy.