An Empirical Analysis Of The Operating Efficiency Of The NEEQ's Stratified Companies

Since the establishment of the NEEQ,it has promoted the development of a large number of SMEs in China.However,the NEEQ also has problems like difficulties in financing.These problems have seriously hampered the improvement of the operating efficiency of the enterprises and have had a significant impact on their operating.In mid-2016,the NEEQ formally stratified its companies.Its purpose was to promote the rapid growth of enterprises with high growth potential among the NEEQ's companies.Studying the operating efficiency of the NEEQ's companies can help to observe whether the stratification system really plays the role of cultivating high quality companies of the NEEQ,and it also helps to promote the development and improvement of the NEEQ market and the establishment of a multi-level capital market.Therefore,this paper hopes to verify whether the stratification system of the NEEQ has the effect of guiding capital flows and supporting the growth of high-quality companies by comparing the operating efficiency of the innovation layer and the basic layer companies of the NEEQ.Through the analysis,we find the insufficiency of the operating efficiency of the NEEQ's companies,and then put forward feasible proposals that can effectively improve the operating efficiency of the NEEQ's companies from three levels.The specific steps studied in this paper are divided into:First,the efficiency evaluation method and the theory of companies' operating efficiency are introduced;Second,elaborated the current business situation of the NEEQ's enterprises and the factors affecting the operating efficiency of the NEEQ's companies.Thirdly,the indicators for evaluating the operating efficiency of the NEEQ's companies were selected,and the data envelopment model was used to empirically analyze the operating efficiency of the innovation layer's companies and the basic layer's enterprises of the NEEQ and the differences between them.Then based on the above studies and calculations,we found that there are problems in the NEEQ market and that how companies improve their operating efficiency.Finally,we put forward corresponding recommendations from the three levels of external market perspective,the NEEQ market and the company itself,hoping that the NEEQ will give full play to its role in cultivating SMEs.It is also hoped that the NEEQ's companies will grow even stronger through this platform.