Research On The Influence Of Financial Ecological Environment In Henan Province On The Financing Efficiency Of SMEs

As the main force of my country’s national economic and social development,small and medium-sized enterprises provide more than 80% of the jobs and more than50% of the tax revenue for the society,and the number of inventions patents each year accounts for more than 70% of the total.missing part.For a long time,the NEEQ,as a link to serve the development of small and medium-sized enterprises,not only provides fresh “blood” for the main board market,but also helps social investors identify different investment targets through hierarchical management.Although the NEEQ market is a national financing platform,the financing levels of different regions are different due to the difference in the external environment of enterprises in the region.Therefore,studying the impact of external environmental factors on small and mediumsized enterprises has certain implications for the growth of small and medium-sized enterprises.Guiding significance will help enterprises achieve high-quality development.Combining the financing background of small and medium-sized enterprises,this paper firstly proceeded from the actual situation,conducted a field investigation on the financing situation of some NEEQ-listed enterprises in Henan Province by means of a questionnaire survey,looked for the relevant factors affecting the financing efficiency of enterprises,and referred to the results of the questionnaire survey and the existing Based on the research results of the literature,an evaluation system of the financial ecological environment and corporate financing efficiency in Henan Province has been constructed.The financial ecological environment includes 3 first-level indicators,10second-level indicators and 22 third-level indicators;corporate financing efficiency includes 3 input indicators and 4 output indicators.Through the entropy weight method,the TOPSIS method and the DEA model,the financial ecological environment evaluation value of 17 prefecture-level cities in Henan Province and the financing efficiency value of the 102 selected NEEQ companies were measured respectively.Then,using the efficiency value as the explained variable,the environmental value as the explanatory variable,and the relevant indicators of the questionnaire survey as the control variable,the Tobit model is used to carry out regression analysis.Through empirical research,it was found that:(1)In terms of financial ecological environment evaluation in Henan Province.The development of financial institutions has the highest contribution to the changes in the financial ecological environment in Henan Province.There is a serious development imbalance in Henan Province.As a super city in Henan Province,the evaluation value of Zhengzhou is about 3 times higher than that of the second place.(2)In the evaluation of corporate financing efficiency.Through the evaluation model,it is found that the conclusion is contrary to the results of the questionnaire.The financing efficiency of most of the listed companies on the NEEQ in Henan Province has diminishing returns to scale,and the financing efficiency value is almost at a low level.(3)In terms of the relationship between the financial ecological environment of Henan Province and corporate financing.The financial ecological environment does play an important role in the financing efficiency,and there is a significant positive correlation between the two.Through the research on the influence relationship of different regions,it is found that the financing efficiency of enterprises in Luoyang,Nanyang and Xinxiang is most affected by the financial ecological environment.