关系型信贷与科技型企业创新研究

Research on Relational Credit and Technological Enterprise Innovation

本文从信息不对称所带来的逆向选择和道德风险的角度分析了科技型企业融资困境的原因,同时还分析了交易成本和声誉约束对科技型企业融资困境的影响。本文认为传统的交易型信贷约束了金融机构对科技型企业的信贷支持,进而提出发展金融机构与科技型企业之间关系型信贷,通过关系型信贷可以在创新投入、创新成果、创新效率三个方面为科技型企业提供资金支持。最后,本文还从银行和企业两个方面提出了进一步发展关系型信贷的建议。

This article analyzes the reasons for the financing dilemma of technology-based enterprises from the perspective of adverse selection and moral hazard brought by information asymmetry.It also analyzes the impact of transaction costs and reputation constraints on the financing dilemma of technology-based enterprises.This paper believes that traditional transactional credit constrains financial institutions'credit support for technology-based enterprises,and then proposes to develop relationship-based credit between financial institutions and technology-based enterprises.Through relationship-based credit,innovation credit,innovation achievements,and innovation efficiency can be Provide financial support for technological enterprises.Finally,the article also puts forward suggestions for further development of relational credit from both the bank and the enterprise.