Abstract：Intellectual property pledge is an important tool for technological SMEs to raise funds.However,there is still a lack of in-depth research on the design of intellectual property pledge financing contract mechanism of SMEs.On the basis of the existing theoretical research,this paper constructed the two-stage mechanism model of intellectual property pledge financing contract design for SMEs from the perspective of intellectual property pledge.It explored the influence mechanism of many factors on the design of risk investment and financing contract,including the intellectual property value of SMEs,enterprises’ own wealth and the level of human capital investment,the capability of managing risk project,the characteristics of the risk project's performance,the proportion of investment in every stage,the residual value of the risk project and its marketability and controllability,the interest rate of intellectual property pledge financing,the monitoring cost and degree of risk aversion of venture investors,and the strategic gains.The article also obtained a series of contract design mechanism of intellectual property pledge financing by quantitative analysis,improved and developed the theory of investment and financing for technological SMEs
仇荣国,孔玉生. 基于知识产权质押的科技型小微企业融资机制及影响因素研究[J]. 中国科技论坛, 2017(4): 118-125.
Qiu Rongguo,Kong Yusheng. Financing Mechanism and Influencing Factors of Technological SMEs Based on Intellectual Property Rights Pledge. , 2017(4): 118-125.
2017, 
