Research on the Financing Performance of Listed Companies on my country's Growth Enterprise Market —Based on DEA-Malmquist index analysis
1Wang Ding, 2Li Jia Ke
1,2Hunan University of Science and Technology, School of Economics and Management, Hunan, Yongzhou, 425000
DOI : https://doi.org/10.47191/ijsshr/v4-i10-22

Google Scholar Download Pdf

The Growth Enterprise Market, also known as the second board market, is a convenient and simple financing market for small and medium-sized enterprises that cannot meet the listing conditions of China's main board market in the short term and have a small growth and development space. In my country's Growth Enterprise Market, it has become a gathering place for high-tech companies such as biology and information technology, laying a foundation for my country's future development of high-tech technology, and strengthening my country's comprehensive national strength. This paper uses the DEA-Malmquist index method to analyze the financing performance of 10 listed companies on my country's GEM from 2016 to 2020, and draws the results of the study: different years of financing environment are different, which has a greater impact on the financing performance of GEM companies; Problems in the management of the funds raised by the target company’s financing will have a greater negative impact on its financing efficiency.


Growth Enterprise Market; listed companies; financing efficiency; DEA-Malmquist index


1) Li Hui, 2018, "Integration of Industry and Finance and Enterprise Innovation: Based on Data of Financial Institutions Holding Shares of Listed Companies in the Iron and Steel Industry", "Liaoning Economy" Issue 8, pp. 20-23.

2) Zheng Lixia and Zhai Lei, 2014, "Local Government Project Management Maturity Model Construction and Empirical Analysis", "Project Management Technology" Volume 12, Issue 7, Pages 13-18.

3) Gu Xiujie, Gou Welcoming and Zhao Bing, 2017, "Maturity Evaluation of Library Project Management: Taking Foshan Library as an Example", "Library Forum", Volume 37, Issue 2, Pages 68-74 .

4) Yang Xinyan and Xu Jie, 2017, "Analysis of SME Debt Financing Risks", "Accounting Newsletter", Issue 14, pp. 20-22.

5) Song Hua and Chen Sijie, 2019, "Research on the Relationship between Supply Chain Integration, Innovation Capability and Financing Performance of Technological SMEs", Journal of Management, Vol. 16, No. 3, pp. 379 ~ 388.

6) Ma Weigang and Zhang Hongli, 2014, "Evaluation of the Benefits of Combining Science and Finance in my country", "Science and Technology Management Research", Vol. 34, Issue 20, pp. 43-47.

7) Zhang Minglong, 2015, "Evaluation of the Efficiency of my country's Financial Support for Technological Innovation-Based on Super-efficient DEA and Malmquist Index Method", "Financial Development Research", Issue 6, Pages 18-25.

8) Li Qiang, Pang Yufan and Wang Yue, 2020, "Agricultural Production Efficiency Evaluation Research Based on DEA Model and Malmquist Index-Taking Jilin Province as an Example", "Technical Economy", Vol. 39, Issue 9, Pages 135-143 English

9) Banker R D,Charnes A,Cooper W W,1984,“Some Models for Esti- mating Technical and Scale Inefficiencies in Data Envelopment Analysis,”Management Science,30(9),pp.1078~1092.

10) Charnes A., W.W.Cooper, E.Rhodes,1978,“Measuring the Efficiency of Decision-making Umits,”European Journal of Operational Research,2 (6),pp.429~444.


Indexed In

Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar