〔Abstract〕 This paper examines the impact of different financing methods on business performance during different life period through empirical analysis . The result shows that the impact do not match the capital structure of the enterprise , which means financing remains to be further improved . The achievement of this study will be used to promote Chinese high -tech manufacturing enterprises financing , and leads to reasonable and better decisions on this industry made by the government .%金融是现代经济的核心，促进科技和金融结合对于转变经济发展方式和经济结构战略性调整具有重要意义。因此，高新技术企业的融资问题成为创新驱动发展战略实施的关键性因素。本文从总结发达国家构建多层次融资平台支持高新技术企业发展的经验出发，运用生命周期理论实证分析我国高新技术制造企业在不同生命周期中的融资顺序和结构对企业绩效的影响。结果发现，高新技术企业融资方式与其生命周期不匹配，说明高新技术制造企业在融资渠道选择方面有待改进，进一步研究还发现，政府扶持资金效率有待提高，迫切需要构建多层次融资平台支持高新技术企业发展。
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