Research On The Influencing Factors Of Finacing In Different Growth Stages Of Science And Technology Enterprises

Scientific and technological innovation is the core strategy of the 13th Five Year Plan period.We should strengthen the cultivation of innovation ability and bring up a large number of scientific and technological talents.Science and technology innovation ability is the embodiment of a country's comprehensive strength.Countries with strong innovation ability have developed rapidly since ancient times.However,the technological enterprises require high technology innovation with ordinary enterprises.Therefore,the technological innovation ability of science and technology enterprises can accelerate the development of a country.But the scale of the scientific and technological enterprises in China is still at a very low level,which is not more than 1%.However,the contribution rate of technology-based enterprises to the research and development of new products is up to 80%,and the effective invention patent accounts for 1/3.The scientific and technological enterprises in China have higher innovation ability than ordinary enterprises,and the innovation ability can keep the national economy developing at a higher speed.At the same time,there are also some shortcomings,such as high risk insurance,small scale,difficult financing,etc.At present,a large number of scientific and technological enterprises are in the initial stage and growth period,lacking self accumulation,which not only need to seek funds from the shareholders and partners of the enterprise,but also need to borrow from financial institutions.Based on this practical problem,we must find and solve the financing difficulty of science and technology enterprises.Since the state proposed to reshape the emerging market economy in 2002,the overall market economy scale,operation volume and management of science and technology enterprises have been maintaining a fairly high economic growth rate,which plays an important role in promoting the transformation,development and upgrading of China's market economy.Among them,scientific and technological enterprises play an important role in the development process of transforming the input benefits of scientific and technological R&D achievements into social and economic benefits through the R&D business activities of scientific and technological enterprises.However,the financing difficulties of science and technology enterprises have been deeply perplexing enterprises and local governments,making enterprises unable to expand the market scale according to the established development speed.At the same time,technology-based enterprises will show different stage characteristics and financing difficulty in different enterprise life cycle.This paper mainly studies the financing problem of different life cycle of science and technology enterprises.In this paper,through sorting out and analyzing the theory of different growth cycles of science and technology enterprises,we discuss the factors that have the greatest impact on the financing ability in each life cycle,find out the factors that affect the external financing of science and technology enterprises,and give different financing opinions according to the research results.This paper mainly uses the methods of text research,questionnaire survey,SEM structure analysis and statistical research.First of all,the definition principles of technology-based enterprises and technology-based enterprises in different growth stages are clarified,and the theoretical research on financing of technology-based enterprises is sorted out.Based on the research theory,this paper analyzes the financing characteristics of science and technology enterprises in each growth stage,obtains the important factors affecting the financing of science and technology enterprises,and makes statistical analysis by using statistical research methods.In the part of questionnaire survey,this paper collects data in the form of questionnaire,and makes a questionnaire survey on the financing status of science and technology enterprises in different development stages.According to different financing growth life cycle,the data of different financing risk influencing characteristics in each growth stage are comprehensively classified,and each financing life cycle will have its own different financing influencing characteristics.According to the characteristics of financing industry of different companies,the most influential factors of financing are determined.In a word,this paper focuses on the distinction of major financing of enterprises of different growth stages of technology-based financing enterprises,Using reliability,validity and principal component analysis?SEM structural analysis to draw empirical conclusions,at the same time,put forward the financing opinions and improvement suggestions of each life cycle,to help technology-based enterprises obtain financing smoothly and solve the financial problems of enterprises.