A Comparative Study On The Financing Cost Of Private Scientific And Technological Enterprises In The Capital Cities Of The Yangtze River Economic Belt

Private scientific and technological enterprises are the top priority in China’s national economic development.The main positive role is to promote enterprise innovation,transformation and upgrading and ensure rapid and stable economic growth.As one of the three national economic development strategies,the Yangtze River economic belt has prominent regional advantages.Studying the financing cost of private scientific and technological enterprises in the provincial capital of the Yangtze River economic belt is of great practical significance to promote the development of financing cost management level of private scientific and technological enterprises in China and even the improvement of regional economic level.Based on the above background,this paper selects private science and technology enterprises in 9 provincial capitals of the Yangtze River economic belt as the research object.Firstly,it defines the related concepts of financing and financing cost and private science and technology enterprises,and combs the relevant literature and theories at home and abroad to find out the shortcomings of the current comparative research on the financing cost of private science and technology enterprises.Secondly,based on the analysis of the development status of private scientific and technological enterprises in the Yangtze River economic belt,this paper constructs the financing cost evaluation index,compares and analyzes the financing cost of private scientific and technological enterprises in the provincial capital cities of the Yangtze River economic belt,gives weight to each index by using the entropy method,and calculates the comprehensive evaluation value and the score ranking of the provincial capital cities,It is concluded that the comprehensive evaluation value of equity financing cost of private science and technology enterprises is generally higher than that of debt financing cost,indicating that enterprises pay more attention to equity financing.At the same time,the financing level of private scientific and technological enterprises in the developed provincial capitals in the eastern part of the Yangtze River economic belt is generally higher than that in the central and western regions.Finally,based on the data of sample enterprises in the Yangtze River economic belt,the influencing factors of financing cost are analyzed by multiple linear regression.The results show that the development of financing cost of private science and technology enterprises is closely related to the innovation investment and good financial situation of enterprises.Through the comparative analysis of the above financing costs and the empirical test results of influencing factors,finally,this paper puts forward corresponding countermeasures and management measures to reduce the financing costs of private science and technology enterprises from the two aspects of government and enterprises,so as to provide good development ideas for improving the financing cost management level and independent innovation of private science and technology enterprises in other parts of China.