The assemble bond is a new innovative financing channel for small and medium-sized enterprises (SMEs), which has unparalleled advantages in solving the financing difficulty. At first, to construct the SMEs assemble bond and board financing efficiency indicator system on the basis of DEA model. Then apply this model to make an empirical study. And the empirical result reflects that the SMEs assemble bond's financing efficiency is higher than the SMEs board. In addition, we will investigate the advanced way to improve the financing efficiency of the SMEs assemble bond, which is to adjust the rate of financing cost and the main business revenue growth.
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