Abstract: A fixed effect panel data regression model is constructed to analyze the influential factors of 29 listed SMEs accounts receivable financing efficiency in Anhui province. The results indicate that the enterprises solvency, mortgaged liquid assets, profitability and inflation have an obvious impact on the listed SMEs accounts receivable financing efficiency in Anhui province, however, only profitability and accounts receivable financing efficiency show an obvious positive correlation, while the remaining factors will lead to a decline in Anhui listed SMEs accounts receivable efficiency. On this basis, recommendations based on empirical results are given.

Key words: listed small and mediumsized enterprise, account receivable financing efficiency, influential factor, empirical analysis, panel data regression model

摘要： 本文构建固定效应的面板数据回归模型，对安徽省29家中小上市公司应收账款融资效率的影响因素进行实证分析。结果表明：企业的偿债能力、可抵押流动资产规模、盈利能力以及通货膨胀对安徽省中小上市公司的应收账款融资效率均存在显著影响，但唯有企业的盈利能力与应收账款融资效率显著正相关，其余影响因素则会导致安徽省中小上市公司的应收账款融资效率下降。基于实证结果给出相关建议。

关键词: 中小上市公司, 应收账款融资效率, 影响因素, 实证分析, 面板数据回归模型