在调查分析我国信息技术企业发展现状的基础上,以2013-2015年1087家企业面板数据为样本,运用DEA模型从细分行业、归属地区、资本市场等多维视角比较信息技术企业融资效率,并对在新三板挂牌的信息技术企业转板前后融资效率、研发强度变化进行关联分析.研究结果表明:信息技术企业的融资效率在不同维度存在差异,从细分行业看,硬件与半导体行业融资效率较低;从归属地区看,东北地区融资效率不容乐观;从资本市场看,创业板融资效率最高.进一步研究发现,企业转板后有必要保持研发强度.鉴于此,为完善我国资本市场制度、提升信息技术企业融资效率,提出优化企业管理、促进产业协同、统筹区域发展、加快转板研制等建议.%The panel data of 1087 Information Technology(IT) enterprises in 2013 -2015 were selected to measure the Fi-nancing Efficiencies(FE) and the changes of sample firms from multiple perspectives based on the investigation and analy-sis 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 associa-tive analysis of the FE and the intensities of Research and Development(R&D) .The results showed that there were signifi-cant differences in the FE of IT enterprises from multiple perspectives :FE reached lower level among the subdivided in-dustry 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 M arket w ere 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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