The Analysis on Influencing Factors of the Financing Structure of Small and Medium High-Tech Enterprise

This paper analyzes the features of small and medium high-tech enterprises' financing structure; then based on the empirical study of influencing factors of small and medium high-tech enterprises' financing structure, and selects five indicator variables which indicate the significant features of small and medium high-tech enterprises. The study shows that the asset-liability ratio of small and medium high-tech enterprises is generally low. This indicates that the company is more in favor of equity financing and the growth and the small and medium high-tech enterprises have significant negative correlations between each other; then put forward some policy recommendations to improve small and medium high-tech enterprises' financing structure based on empirical findings.