International Journal of Social Science & Economic Research
Submit Paper

Title:
RESEARCH ON THE FINANCING EFFICIENCY OF CHINESE STRATEGIC EMERGING INDUSTRIES

Authors:
Zhang Yuan

|| ||

Zhang Yuan
College of Economics and Management Nanjing University of Aeronautics and Astronautics, Nanjing, China

MLA 8
Yuan, Zhang. "RESEARCH ON THE FINANCING EFFICIENCY OF CHINESE STRATEGIC EMERGING INDUSTRIES." Int. j. of Social Science and Economic Research, vol. 3, no. 1, Jan. 2018, pp. 460-470, ijsser.org/more2018.php?id=32. Accessed 2018.
APA
Yuan, Z. (2018, January). RESEARCH ON THE FINANCING EFFICIENCY OF CHINESE STRATEGIC EMERGING INDUSTRIES. Int. j. of Social Science and Economic Research, 3(1), 460-470. Retrieved from ijsser.org/more2018.php?id=32
Chicago
Yuan, Zhang. "RESEARCH ON THE FINANCING EFFICIENCY OF CHINESE STRATEGIC EMERGING INDUSTRIES." Int. j. of Social Science and Economic Research 3, no. 1 (January 2018), 460-470. Accessed , 2018. ijsser.org/more2018.php?id=32.

References
[1]. CHEMMANUR TJ, KRISHNAN K and NANDY D K. How Does Venture Capital Financing Improve Efficiency in Private Firms? A Look Beneath the Surface [J]. Review of Financial Studies, 2011, 24(12): 4037-90.
[2]. HOVAKIMIAN G. Financial constraints and investment efficiency: Internal capital allocation across the business cycle [J]. Journal of Financial Intermediation, 2011, 20(2): 264-83.
[3]. YINHUA T, ZHIQIANG Z and FUGUI C. Research on Human Capital financing efficiency of family business based on multiple regression model [J]. Advances in Information Sciences & Service Sciences, 2012,
[4]. CARP M, MIRONIUC M, ROBU I B, et al. Empirical Study on the Efficiency of the Companies Financing Process through Statistical Analysis [J]. Communications of the Ibima, 2012, 2012(765236): 19 pages.
[5]. GOMARIZ MFC and BALLESTA J P S. Financial reporting quality, debt maturity and investment efficiency [J]. Journal of Banking & Finance, 2014, 40(1): 494-506.
[6]. TOLOO M and KRESTA A. Finding the best asset financing alternative: A DEA-WEO approach [J]. Measurement, 2014, 55(9): 288-94.
[7]. KOCISOV K. Loan efficiency in the Visegrad countries [J]. Acta Oeconomica, 2015, 65(s1): 161-81.
[8]. DIALLO B. Bank efficiency and industry growth during financial crises [J]. Economic Modelling, 2017,

Abstract:
After the financial crisis, the global economic growth is slow. The countries all over the world have begun to seek for the new commanding heights of the economic strategy, in order to support their national economic development. In such an economic environment, Chinese treats strategic emerging industries as a major strategic choice for the transformation of economic development mode, and the focus of the industrial structure transformation. In order to achieve a high effective financing in strategic emerging industries, promote the development of strategic emerging industry healthily, this paper uses Super-SBM model to measure the financing efficiency of the strategic emerging industries listed companies in China during 2011-2016. Besides, it analyses the factors, which influencing the financing efficiency with the method of multiple regression model. The result shows that: Generally speaking, Chinese strategic emerging industry listed companies are not achieve effective financing now, but overall financing efficiency is relatively high. Many enterprise internal factors affect financing efficiency, the scale, operating capacity and quality of enterprises have positive effect on financing efficiency, while improper financing structure will hinder the increase of financing efficiency.