Research on Financing Efficiency of Software and Information Technology Service Industry on GEM

With the advent of the era of big data, software and information service industries play an important role in promoting high-quality economic development, but financing constraints affect industrial development. This paper constructs a financing efficiency evaluation index system, selects the software and information technology service industry listed companies in China's GEM market from 2017 to 2019 as the research object, uses the BCC model to measure, and uses the Logit model to analyze the factors affecting financing efficiency. The results show that the overall financing efficiency of the industry has not reached the optimal state, and financing cost is the main factor restricting financing efficiency. Finally, this paper proposes suggestions from the government level and the company level in view of the low efficiency of corporate financing.