Study on the identification of risk paths for financing small and medium-sized technology enterprises based on ISM-MICMAC model

Abstract

To reduce the financial risk of small and medium-sized technology companies and to identify the risk surface. This paper constructs a system of 12 indicators affecting the financing risk of small and medium-sized enterprises from 3 aspects, secondly, ISM (explanatory structural model) and MICMACM (cross-influence matrix multiplication method) models are constructed respectively; the hierarchy is carried out by ISM and the MICMAC model is used to carry out the influence and dependence relationship between factors. The results show that: the influencing factors of financing risk path of small and medium-sized technology enterprises are divided into dependent factors, linkage factors and independent factors; no influencing factors exist in the quadrant of spontaneous factors; the operation of financial institutions, profitability level and internal accumulation level are dependent factors with high dependence and low driving force, which are the key factors directly affecting the financing risk of small and medium-sized technology enterprises; the legal system, construction of financial institutions, circulation of monetary funds, Independent factors include only government policies, which have a high driving force and will affect the whole body when they occur, and are the key factors to reduce the financing risks of small and medium-sized technology enterprises. They should be carefully considered when making decisions.