科技创新型中小企业的资本市场融资策略研究  

Study on Capital Market Financing Strategy of Scientific and Technical Innovation-oriented enterprises

作　　者：闻岳春[1] 王婧婷[1] 

机构地区：[1]同济大学经济与管理学院,上海200092

出　　处：《科学管理研究》2010年第2期107-112,共6页Scientific Management Research

基　　金：国家自然科学基金项目(70673068);上海市科委上海研发公共服务平台建设专项课题(06DZ22924);上海市科技发展基金软科学研究项目(066921084)

摘　　要：资本市场融资是提高我国科技创新型中小企业直接融资比例的重要途径,是目前缓解我国科技创新型中小企业融资难的重要手段。通过分析和比较境内外适合科技创新型中小企业融资的不同资本市场及上市方式,探讨处于初创期和成长期的科技创新型中小企业资本市场融资策略。主要结论为,科技创新型企业应综合考虑自身发展战略、融资需求、融资成本、再融资难易等各方面因素,选择最适合的市场和上市方式以促进自身快速成长和发展。Capital market financing can improve the proportion of scientific and technological innovation-oriented enterprise＇s direct financing,and is the essential approach to buffer the financing dilemma.Through analyzing and comparing different markets on the worldwide and diverse listing approaches which are suitable to scientific and technological innovation-oriented enterprise＇s financing,this paper advanced strategies for them on choosing different markets and approaches.The results illustrated that scientific and technological innovation-oriented enterprises should take all factors into account,such as development strategy,demand of financing,cost of financing,refinancing,and select the most suitable market and way to improve the rapid development of enterprise.

关 键 词：科技创新 中小企业 资本市场 融资策略 

分 类 号：F830.9[经济管理—金融学]