CAJ | 학술논문

专利质押贷款是金融衍生产品的创新，也是缓解中小企业融资难问题的重要举措，但如何确定专利价值直接关系到专利质押贷款理论的发展及其应用。目前，在专利质押贷款环境下，研究专利价值的决定因素的文献并不多见。本文以我国2004—2010年176份专利质押贷款数据为样本，分析专利属性、企业属性以及其他控制变量对专利价值的影响。研究结果表明，质押状态下的专利属性仍是决定其价值的关键因素，企业属性能体现贷款风险的高低，它对专利质押贷款额度有着显著影响。
전리질압대관시금융연생산품적창신，야시완해중소기업융자난문제적중요거조，단여하학정전리개치직접관계도전리질압대관이론적발전급기응용。목전，재전리질압대관배경하，연구전리개치적결정인소적문헌병불다견。본문이아국2004—2010년176빈전리질압대관수거위양본，분석전리속성、기업속성이급기타공제변량대전리개치적영향。연구결과표명，질압상태하적전리속성잉시결정기개치적관건인소，기업속성능체현대관풍험적고저，타대전리질압대관액도유착현저영향。
Patent pledge loan is an innovation for financial derivative product, and has become the most important measure for mitigating the SME＇ s financing difficuhies. However, the literatures describing the determinants of patent value in the environment of patent pledge loan are very rare. By analyzing a dataset of 176 patent pledge loans with 618 patents involved from 2004 to 2010 in China, how patent attributes, firm specific characteristics, and other control variables relate to patent collateral value is examined. The results show that patent specific attributes remain key factor for determining patent collateral value. Firm specific characteristics could reveal the risk level and have a significant effect on the amount of credit.