Research On The Influence Factors Of Financing Of New OTC Market Manufacturing Enterprises

As one of the basic industries of the national economy,manufacturing has played a vital role in promoting China's economic development.With the deepening of China's financial reform and economic system reform,the financing structure and financing system of China's manufacturing industry have also changed greatly.In December 2017,China's New OTC Market has been listed for 11630,of which 49.91% are manufacturing.In the context of actively developing equity financing and speeding up the sound and perfect multi-level equity market,New OTC Market manufacturing is one of the most effective ways to actively develop equity financing.It can expand capacity,introduce strategic partners,acquire and integrate industry resources and motivate management.There are still many influencing factors in the development of New OTC Market manufacturing industry.Therefore,it is of great theoretical value and practical significance to study the financing of China's New OTC Market manufacturing industry.In this paper,New OTC Market manufacturing enterprises as the research object,and small and medium-sized panels,the gem of a-share manufacturing enterprise comparison,systematic analysis of New OTC Market manufacturing enterprise increase financing development course,present situation,discover New OTC Market manufacturing enterprise profit ability,growth ability and the innovation layer p/e ratio is low,compared to the traditional manufacturing can reflect innovative manufacturing in China.On this basis,by adopting the combination of theoretical analysis and empirical research methods,from manufacturing enterprise financing scale,capital structure,eps and the multiple of interest safeguard on New OTC Market manufacturing will increase financing is analyzed,the influence of the empirical results show that the higher the eps,property rights,a lower ratio of manufacturing will increase financing,the better the results.In addition,can draw from the correlation analysis between the rate of return on net assets and assets expansion significantly negative relationship,there is significant negative correlation between the multiple of interest safeguard and the relationship.In order to realize the target of New OTC Market manufacturing,the paper puts forward some Suggestions to improve the operation efficiency,control the total assets of total assets to expand,optimize the financial structure and improve the internal governance.