【作者】 王锋；

【导师】 柯新生；

【作者基本信息】 北京交通大学 ， 工商管理， 2008， 硕士

【摘要】 当今世界是知识经济时代,科技是第一生产力的观念已经为人们所共识。高新技术产业是国民经济快速增长的重要源泉和动力,发展知识技术密集型的高新技术产业,是提高综合国力的根本途径。中小高新技术企业在成长过程中需要大量的资金,但由于其自身的特点,在成长的过程中具有很高的风险性,而一旦成功,又将带来很高的收益。这种高风险高收益并存的特征,使传统的融资方式难以满足其融资需求,导致融资渠道不畅,严重阻碍了中小高新技术企业的发展,成为高新技术产业发展滞后的一个严重的瓶颈。因此,加强对高新技术企业融资问题的研究意义重大。本文首先就中小高新技术企业的定义及其融资理论进行的简单的概述,其次针对我国中小高新技术企业直接融资方式和间接融资方式的现状加以阐述和比较,从我国中小高新技术企业发展阶段入手认真分析其每个阶段的融资方式特征,从而提出我国中小高新技术企业融资方式的选择应该结合其成长阶段的特征,在对各种融资方式进行分析的基础上,充分考虑各因素的影响,从战略的角度进行企业融资行为的设计与选择,保证其融资行为的可行性、有效性及长期性,从而有效地克服融资障碍。最后针对我国中小高新技术企业目前的融资环境,我认为我国应加快以创业板为特征的直接融资体系的完善。更多还原

【Abstract】 It is general idea that the science & technology is the first productivity during current knowledge-economical times. And the high update technologyis the major power for the national economic increase, it is the final way for us to develop high technology industry up-higher the national strength increase.A large amount of money would be requird for those small and medium High & New Technology enterprises in the process of development, While, consider the fact that the high risk and high return at the same time, that means it is difficult for those enterprises to got the enough money via the traditional financing their developing & increasing. Therefore, strenghing research to the financing problems of Mid-Small High & New Technology enterprises become a significant task foe the business world, policy-making and academic circles.Firstly, this dissertation analyses the development and financing peculiarity of Mid-Small High & New Technology enterprises. Then the dissertation probes that the choice of the financing strategy of the Mid-Small High & New Technology enterprises should be on devising and selecting the financing behavior, intergrating developing stages, basing on the analysis to a variety of financial methods and fully considering relevant factors’ effects. The financial tactics could assure the feasibility, availability, protacted nature of financial behavior. Finally, the dissertation pionts out the concepts for consummation of Mid-Small High & New Technology enterpris’ financing systerm in our country, I think that our country should develop the second board market financing systerm as soon as we can.更多还原