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融资效率是衡量企业资金投入效果的核心标准。文章基于企业融资结构视角,选取2010年1季度-2015年3季度10家甘肃省战略性新兴产业上市公司样本,运用面板数据模型实证分析了甘肃省战略性新兴产业企业融资效率。实证结果表明:甘肃省战略性新兴产业企业债务融资效率最高,内源融资效率次之,股权融资效率不显著;不同期限的债务中,短期债务与企业利润负相关,长期债务则与企业利润正相关。最后,文章提出了加大银行信贷支持、拓宽资本市场融资渠道以及提升企业自身价值的建议。
Financing efficiency is a measure of the effectiveness of corporate capital input core criteria. Based on the structure of corporate finance structure, this paper selects 10 listed companies in strategic emerging industries in Gansu from 1Q10 - 3Q15 and analyzes the financing efficiency of strategic emerging industries in Gansu province by panel data model. The empirical results show that GDB has the highest debt financing efficiency, the second is the internal financing efficiency, and the second is the equity financing efficiency is not significant. Among the debt with different maturities, the short-term debt is negatively correlated with the corporate profits while the long-term debt is positively correlated with the corporate profits Related. Finally, the article puts forward some proposals to increase bank credit support, broaden the capital market financing channels and enhance their own value.