中小企业如何盘活知识产权?--基于知识产权证券化市场的分析  

How Can Small and Medium-Sized Enterprises Revitalize Intellectual Property Rights?--Analysis Based on the Intellectual Property Securitization Market

作　　者：沈忱忱 段文譞 SHEN Chenchen;DUAN Wenxuan(China Center for Special Economic Zone Research/Shenzhen Credit Guarantee Group,Shenzhen University,518057,Shenzhen,Guangdong,China)

机构地区：[1]深圳大学中国经济特区研究中心/深圳担保集团有限公司,广东深圳518057

出　　处：《特区经济》2023年第10期70-73,共4页Special Zone Economy

摘　　要：知识产权证券化是盘活中小企业无形资产,解决高科技中小企业融资难题的重要金融创新。本文基于中小企业通过私募债市场发行的与知识产权相关的资产证券化数据,以运作模式为分类依据,从地域分布、发行规模和产品定价等方面开展描述性统计分析。研究发现,相较融资租赁模式,小额贷款模式的资产证券化产品覆盖范围更广,风险更加分散,定价也更低。但是,该模式高度依赖于政策红利,缺乏稳定的市场支持机制。为此,本文从知识产权基础设施建设和服务体系建设两方面出发,提出了推动知识产权证券化高质量发展的相关建议。Intellectual property securitization is an important financial innovation to revitalize the intangible assets of SMEs and solve the financing problems.Based on the securitization data related to intellectual property issued by SMEs through the private bond market,this paper conducts descriptive statistical analysis from three aspects:geographical distribution,issuance scale and product pricing.This paper finds that compared to the financing leasing model,the asset securitization product based on small lone has wider coverage,more diversified risks,and lower pricing.However,it highly relies on policy dividends and lacks a stable market support mechanism.Therefore,this article proposes relevant suggestions to promote the high-quality development of intellectual property securitization from two aspects:the construction of intellectual property infrastructure and the construction of service systems.

关 键 词：知识产权证券化 中小企业融资 资产定价 

分 类 号：F832.5[经济管理—金融学] F276.3