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Abstract Abstract：The panel data of 1087 Information Technology(IT) enterprises in 2013-2015 were selected to measure the Financing Efficiencies(FE) and the changes of sample firms from multiple perspectives based on the investigation and analysis on current development situation of IT enterprises in China and DEA Model.Besides,the panel data of the enterprises that listed in NEEQ board and had transferred board were selected to observe the changing trends and to proceed associative analysis of the FE and the intensities of Research and Development(R&D).The results showed that there were significant differences in the FE of IT enterprises from multiple perspectives: FE reached lower level among the subdivided industry of Hardware and Semiconductor from the perspective of subdivided trade structure; the FE in northeast China were not optimistic from the perspective of attribution area; the FE of the Generate Edition Market were the highest from the perspective of capital market.Further research found that the IT enterprises had transferred board should hold on high R&D intensities after transferring board.Based on the comparative results above,for the purposes of improving the capital market system in China and the FE of IT enterprises,this article suggests that optimize the management of enterprises,promote the cooperation between industries,integrate regional development,accelerate research to develop Transfer Board System.
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