Proceedings of the 3rd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2024)

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Research on financing efficiency of small, medium and micro enterprises in Hunan Free Trade Zone based on DEA-Tobit model

Authors
Haifeng Tang1, *, Zhenzhu Wu1
1School of Economics and Management, Hunan Technical College of Water Resources and Hydropower, Hunan, China
*Corresponding author. Email: 14878380@qq.com
Corresponding Author
Haifeng Tang
Available Online 7 May 2024.
DOI
10.2991/978-94-6463-419-8_9How to use a DOI?
Keywords
Hunan Free Trade Zone; Financing efficiency; DEAP 2.1 and Stata 17 software; DEA-Tobit model
Abstract

This paper takes the financing efficiency of small, medium and micro enterprises in Hunan Free Trade Zone as the research object. With DEAP 2.1 and Stata 17 software, DEA-Tobit model is used to analyze the financial data of 31 listed enterprises in Hunan Free Trade Zone from 2020 to 2022. The results show that: The financing efficiency of the sample enterprises showed an increasing trend year by year, but most of the enterprises did not reach the effective level, and the mean value of SE is higher than the mean value of PTE. The increase of enterprise operation, growth and short-term solvency will significantly promote the improvement of financing efficiency, the increase of asset-liability ratio will significantly reduce the financing efficiency, and the positive effect of profitability on financing efficiency is not significant. Finally, according to the empirical results, relevant suggestions are given from the enterprise’s own perspective and the government level.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2024)
Series
Atlantis Highlights in Computer Sciences
Publication Date
7 May 2024
ISBN
978-94-6463-419-8
ISSN
2589-4900
DOI
10.2991/978-94-6463-419-8_9How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Haifeng Tang
AU  - Zhenzhu Wu
PY  - 2024
DA  - 2024/05/07
TI  - Research on financing efficiency of small, medium and micro enterprises in Hunan Free Trade Zone based on DEA-Tobit model
BT  - Proceedings of the 3rd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2024)
PB  - Atlantis Press
SP  - 62
EP  - 72
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-419-8_9
DO  - 10.2991/978-94-6463-419-8_9
ID  - Tang2024
ER  -