Analysis Of Financing Effect Of SMEs Listed On New Three Board

With the continuous progress of reform and opening up and the continuous prosperity of China's socialist market economy,Small and medium-sized enterprises have become an important part of China's market economy,The development of small and medium-sized enterprises is of great significance to solve the problem of employment and enhance the vitality of the economy.At present,the financing problem is still serious,plagued SMEs development,So it is necessary to study the problem of financing of small and medium sized enterprises.In this paper,a large number of domestic and foreign literature were consulted,Summary the research status of domestic and foreign scholars and experts on the financing problems of small and medium-sized enterprises.Secondly,from the concept of the new third market,the characteristics of the new third market,the new three board market listing conditions,listing process,layered system and the function of this paper expounds the general situation of the new third market,And analyzes the development status of the new third board Market.This paper introduces the financing methods of small and medium-sized enterprises in the new third board Market.And selected from 2006 to 2017 nearly 11 years,the new three board listed companies related financial indicators,The financing of small and medium-sized enterprises were listed on the market scale of the rnew board,the industry distribution of enterprises,enterprise distribution,enterprise oriented increase,enterprise transfer situation analysis of investment situation of three new board market.Thus we can draw a conclusion that the new third board market is constantly improving and improving.This paper also selects a series of SMEs financing effect added value index for empirical research,The multiple regression linear analysis method was used to quantify the financing effects of SMEs listed on the new three board,inally,after the SME listing three new board,business performance has improved and improved in varying degrees.Description of enterprises in the new three board listing,operating conditions improved finally,According to the foregoing analysis,As the new three board listing of SMEs in most of the scale of diminishing returns stage,Three new board market financing function is still limited,liquidity is not optimistic,the transfer mechanism and trading methods are imperfect and other issues.Application guidelines from the listing,the market maker system,difference threshold and the introduction of exit mechanism,standardize enterprise internal control mechanism,improve the core competitiveness of enterprises,expand the financing scale,reduce investment standard,suggestions on how to improve the SME financing problems of the proposed three new board market improve eight brokers enthusiasm.