【作者】 洪捷；

【导师】 房桃峻；

【作者基本信息】 福州大学 ， 公司治理（专业学位）， 2017， 硕士

【摘要】 新三板市场作为我国建设多层次资本市场体系中的基础层,早期在我国的发展并不乐观,直到2013年国务院常务会议决议将新三板市场正式扩容至全国并于2016年出台新三板市场分层管理制度之后,新三板市场挂牌企业数量才出现了井喷式的发展,这不仅加速改变了我国资本市场原先呈现的倒金字塔型结构,而且促进了新三板市场制度与体系的进一步细化和逐步完善。自成立之初,新三板市场就定位于为中小企业提供融资平台并且致力于改善中小企业融资环境,而作为占据我国经济市场最大份额的中小企业能否将新三板的融资渠道加以充分利用,将所筹集的资金最大程度的加以配置,是当前和未来新三板市场发展中都值得重点关注的问题,这不仅与企业的经营管理紧密相联,也与资本市场的健康发展和资源合理配置密切相关。本文在对国内外融资结构和融资效率进行理论研究的基础上,首先采用问卷调查法对福建省新三板市场挂牌的中小企业融资现状进行了调查,发现该地区中小企业融资效率存在的问题;其次,通过DEA模型对福建省新三板市场挂牌的中小企业融资效率进行验证;最后,结合具体案例,选取在福建省新三板市场挂牌的企业,对比其在挂牌前后相关财务指标与非财务指标,分析其在福建省新三板挂牌前后的融资效率,最后提出对福建省新三板挂牌中小企业融资效率的改进建议。更多还原

【Abstract】 The new three-board market,did not develop well in China until 2013 capacity of the new three-board market was expanded and in 2016 a new three-tier market ranked management system was introduced.The new three board listed companies only appeared in the number of blowout type development,which not only accelerated the transformation of China’s capital market was originally presented inverted pyramid-type structure,but also to promote the new three-board market system and further refinement and gradual improvement.Since its inception,the new three-board market is positioning to provide financing platform and is committed to improve the financing environment.As the largest share of China’s economic.market share,small and medium enterprises(SMEs)can exploit the new three-board financing channels and make the funds raised to the greatest extent to be configured,which relate to the current and future evolution of the new three-board.It connect to maturing of the companey,and linked with sound development of the capital market and rational allocation of resources.Based on the theoretical research on the financing structure and financing efficiency,this paper uses the questionnaire survey to explore the financing situation of enterprises in the new three-board market in Fujian Province,and qualitatively analyzes the financing problems of SMEs in this area.Secondly,analyze the financing efficiency of the enterprises in the new three-board market in Fujian Province by DEA method.Finally,we select one of the companys in the new three-board market of Fujian Province,and compare the situation and efficiency before and after listing on the new three-board market in Fujian Province.Ultimately,the financing efficiency of SMEs in the new three-board market is comfirmable and the financing efficiency of enterprises listed on the new three-board companys in Fujian Province is improved by suggestion to them.更多还原