1. Finance Constraint , IPR Collateral Loan , and Lasting Development of SME: Evidences from China.
- Author
-
Fu Jian-Feng, Li Shi-Liu, and Zhu Hong-Ming
- Subjects
LOMBARD loans ,INTELLECTUAL property reform ,PLEDGEBANKS ,SMALL business finance ,INTANGIBLE property ,INDUSTRIAL management - Abstract
SMEs, especially th IIi tech MEs, are well-known for their relatively low fix d assets ratio to total assets and th ir absence of collateral loan, which makes them little access to the traditional commercial banks. Naturally, SMEs' finance constraint is a universal and lasting problem. The related parties all over the country then make great efforts utilizing intangible assets, such as trademark and patent, to design intellectual property rights CIPR) collateral loan. By case study, this paper investigates IPR collateral loan operational experience in Beijing, Hunan, and Sichuan, and maintains that there appears to be two modes of IPR collateral loan: government driven pattern and market-driven pattern. The government driven pattern constricts its ability of lasting development, whereas the market-driven pattern is reproved by its financing quantity. Accordingly, the author puts forward such suggestions as improving the ability to evaluate IPR, strengthening the governmental support, and constructing exchange platform of IPR to help the lasting development of SMEs by popularizing IPR collateral loan. [ABSTRACT FROM AUTHOR]
- Published
- 2011