银企关系对中小企业银行贷款的影响:技术创新的调节作用

Impact of Bank-firm Relationship on Bank Loans of SMEs:Moderating Effect of Technological Innovation

基于2016年广东省520家科技型中小企业的调查数据,采用普通最小二乘回归法分析了银企关系、技术创新与中小企业银行贷款结构之间的关系。研究发现:银企关系能有效优化贷款结构;R&D投入不利于银行贷款;申请和授权专利数均消极影响贷款率和贷款期限,其中申请专利数的消极影响程度更大,二者降低贷款成本的作用均不明显;R&D投入越大,银企关系对提高贷款率和降低贷款成本的作用越弱,获得长期贷款的能力越强;申请和授权专利数越多,银企关系优化贷款结构的作用越强,授权专利数的作用更大。现阶段我国中小企业应重视建立和发展健康、良好的银企关系,重视创新成果的产出和转化,促进中小企业更好地融资和成长。

This paper constructs the ordinary least squares regression( OLS) model to make an empirical analysis of the bank-firm relationship,innovation capability and loan structure of SMEs based on the survey data of 520 technological firms in Guangdong province. The results show that bank-firm relationships can effectively promote the firms to obtain more loans and reduce costs. R&D investment does not facilitate bank loans; the number of applied and authorized patents both affect loan rates and loan terms negatively,furthermore,the negative degree of the number of applied patents is greater,and both of them have no obvious effects to reduce loan costs. The larger R&D investment scale is,the weaker the effect of bank-firm relationship scope on improving loan rates and loan costs is,but there are still good effects,namely the stronger the capability to acquire long-term loans is. The more the number of patents is,the stronger the capability to obtain more long-term loans and to reduce loan costs is. While the number of authorized patents obviously plays a greater role than the number of applied patents. At the present stage,SMEs should establish and develop healthy and sound relationships between banks and enterprises and attach importance to the output and transformation of innovative achievements in order to better promote their financing and growth.