武汉高新技术上市公司融资结构存在的问题及对策研究  

Research on the Financing Structure of Wuhan Listed Tech Companies:Problems and Solutions

作　　者：何少奎[1] HE Shao-kui(Wuhan Business University,Wuhan,Hubei,430056,China)

机构地区：[1]武汉商学院经济学院,湖北武汉430056

出　　处：《武汉商学院学报》2022年第1期65-72,共8页Journal of Wuhan Business University

摘　　要：武汉高新技术产业已成为推动武汉地区经济结构优化升级、实现高质量发展和提升城市综合实力的重要支撑。然而,由于高新技术企业发展带有明显高投入、高竞争、高风险、回报周期长等产业特征,促使其在融资过程中必须合理配置融资资源,不断优化资本结构、融资规模和融资结构。当前,武汉高新技术企业,特别是高新技术上市公司普遍存在外源性融资规模过大、内源性融资重视不足、融资结构单一且偏好于股权融资等结构性问题,不利于其可持续发展。本文在对22家武汉高新技术上市公司基本情况、融资规模和融资结构等数据分析基础上,从提高政府政策执行效能、引导企业提升融资效率、规避融资风险等视角,提出优化武汉高新技术上市公司融资结构的政策与措施。Wuhan high-tech industry has become an important support for promoting the optimization and upgrading of Wuhan regional economic structure,achieving high-quality development,and enhancing the city’s comprehensive strength.However,due to their obvious industrial characteristics like high investment,fierce competition,high risks and a long payback period,tech enterprises must rationally allocate financing resources and constantly optimize the capital structure,financing scale and structure in the financing process.Currently,Wuhan tech enterprises,especially those listed ones,generally have such structural problems as scale of exogenous financing being too large,insufficient attention to endogenous financing,financing structure being single and its preference for equity financing,which are not conducive to their sustainable development.Based on the data analysis of the basic situation,financing scale and structure of 22 Wuhan listed tech companies,the paper proposes policies and measures to optimize the financing structure of Wuhan listed tech companies from the perspective of improving the government’s implementation efficiency of policies,guiding enterprises to improve financing efficiency and avoiding financing risks.

关 键 词：高新技术产业 高新技术上市公司 融资规模 融资结构 融资效率 

分 类 号：F276.44[经济管理—企业管理] F832.51[经济管理—国民经济]