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技术创新已成为当前推动全球经济发展的主要动因,而科技型小微企业是科技创新最为活跃和最具有经济发展潜力的群体,不但能激发市场活力、为社会增加就业岗位,还可以推动整个社会改革创新的进程。现阶段我国科技型小微企业已进入蓬勃发展期,但由于这类企业具有高风险、高失败率以及未来收益不确定性等特点,同时存在与金融机构信息不对称以及银行严重惜贷等问题,其在发展初期始终面临着资金紧缺、融资难的问题。本文以在A企业实践为背景,分析其当前融资存在的问题,从中选取信息不对称这一角度,试探讨信号传递理论在该类型企业融资过程中的作用,旨在对该类创新型小微企业的发展提供参考。
Technology innovation has become the main driver of the global economic development. Science and technology small and micro enterprises are the most active and economic development potential groups in science and technology. They not only stimulate market vitality, increase employment opportunities for the society, but also promote the entire society The process of reform and innovation. At this stage, China’s small and medium-sized technology-based science and technology enterprises have entered a period of vigorous development. However, due to the high risk and high failure rate of such enterprises and the uncertainty of future returns, there are problems such as asymmetric information with financial institutions and serious bank loans , Its initial development has always been facing the problem of shortage of funds, financing difficulties. This paper analyzes the existing problems in current financing in the context of A-firm practice. From the perspective of information asymmetry, this paper tries to explore the role of signaling theory in this type of corporate financing process, Provide a reference for the development of enterprises.