我国中小型医疗器械行业上市公司的融资效率研究摘要医疗器械行业是生物医药的重要产业，但目前国内的医疗器械产品以中低端产品为主，自主创新能力较弱，而高端设备则基本被发达国家所垄断。若能有效地解决国内医疗器械企业融资难、融资效率不高等问题，对推动我国医疗器械产业的科技创新具有重要意义。本文在梳理相关文献的基础上，分析了在我国中小型医疗器械上市公司的融资现状，然后通过DEA模型和多元回归分析方法，对2019-2021年三年间我国中小医疗器械企业的融资效率进行了实证分析发现：（1）我国中小医疗器械行业上市公司融资效率不是完全有效，但平均效率呈现递增的趋势。(2)沪、深圳和创业板上市公司的融资效率高于其它板块，中小板次之，科创板板块排名最后（3）资产总额,主营营业成本,净资产收益率会对中小型医疗器械行业上市公司的融资效率产生显著的正向影响关系，资产负债率与会对中小型医疗器械行业上市公司的融资效率产生显著的负向影响关系。最后提出了中小型医疗器械行业企业应该增加研发投入、减少债务融资以及扩张企业规模以增加企业融资效率的对策与建议。关键词：医疗器械行业；融资效率；中小型企业；DEA模型；多元回归模型StudyonfinancingefficiencyofListedSmallandmedium-sizedmedicaldevicecompaniesinChinaAbstractMedicaldeviceindustryis,butatpresent,domesticmedicaldeviceproductsaremainlylow-endproducts,independentinnovationabilityisweak,andhigh-endequipmentisbasicallymonopolizedbydevelopedcountries.Ifwecaneffectivelysolvethefinancingdifficultiesandlowfinancingefficiencyofdomesticmedicaldeviceenterprises,itisofgreatsignificancetopromotethescientificandtechnologicalinnovationofChina'smedicaldeviceindustry.Onthebasisofreviewingrelevantliterature,thispaperanalyzesthefinancingstatusofsmallandmedium-sizedlistedmedicaldevicecompaniesinChina,andthenempirticallyanalyzesthefinancingefficiencyofsmallandmedium-sizedmedicaldevicecompaniesinChinafrom2019to2021throughDEAmodelandmultipleregressionanalysismethod.Itfindsthat:(1)Thefinancingefficiencyoflistedsmallandmedium-sizedmedicaldevicecompaniesinChinaisnotcompletelyeffective,buttheaverageefficiencyshowsanincreasingtrend.(2)ThefinancingefficiencyoflistedcompaniesinShanghai,ShenzhenandGEMishigherthanthatofothersectors,followedbysmallandmedium-sizedboard,andrankedlastinscienceandTechnologyInnovationBoard.(3)Totalassets,mainoperatingcost,andreturnonequityhaveasignificantpositiveimpactonthefinancingefficiencyoflistedcompaniesinsmallandmedium-sizedmedicaldeviceindustry.Theasset-liabilityratiohasasignificantnegativeimpactonthefinancingefficiencyofsmallandmedium-sizedlistedcompaniesinthemedicaldeviceindustry.Finally,thecountermeasuresandsuggestionsofincreasingr&dinvestment,reducingdebtfinancingandexpandingenterprisescaleareputforward.Keywords:medicaldeviceindustry;Financingefficiency;Smallandmedium-sizedenterprises;DEAmodel;Multipleregressionmodel目录一、绪论..........................................................................................................................................1（一）研究背景及意义........................................................11.研究背景..............................................................12.研究意义..............................................................1（二）国内外文献综述...............................................................................................................11.国外文献综述..........................................................12.国内文献综述..........................................................2（三）研究目标与方...
