基于风险功能视角的科技金融的政策性禀赋  

Policy Endowment of Technological Finance :Based on Perspective of Risk Function

作　　者：杨雨清[1] 李华民[2] 

机构地区：[1]广州大学商学院,广东广州510006 [2]广东金融学院区域金融政策研究中心,广东广州510521

出　　处：《南方金融》2013年第9期27-31,共5页South China Finance

基　　金：教育部人文社会科学研究规划项目<适配科技产业发展的最优金融系统研究>(项目编号:11YJA790073);广东省自然科学基金项目<适配广东省科技产业发展的最优金融系统研究>(项目编号:S2011010004522)的阶段性研究成果;广州市人文社会科学区域金融政策重点研究基地的资助

摘　　要：本文回顾了科技金融的理论进展,分析了科技创新的风险特征,从科技创新与商业性金融的融合、与股权资金的融合两个方面,分析了科技金融商业化的悖论,指出为科技创新拓展外部融资渠道的必要性,以及政策性金融与科技型企业融资的适配性,认为这决定了科技金融的政策性禀赋。据此,本文建议设置专门的政策性科技银行,并对其职能和作用提出了初步设想。The paper reviewes tile thent of technological finance, and analyzes the risk characteristics of technological innovation. By integrating scientific and technological innovation into the two aspects of commercial finance and equity funding, it illuminates the paradox of technnhgieal finance commercialization, and points out the necessity of exlmnd external financing channel for science anti technology innovation, as well as the suitability of finance policy and technological enterprises financing, which determines the policy endowment of science and teclmnlogy financing. On this basis, the paper suggests that il is necessary In set special policy banks of seience and technogy, and offers the preliminary conception on its fimction and roles.

关 键 词：科技金融 风险功能 政策性禀赋 

分 类 号：F832.46[经济管理—金融学]