摘要
为分析影响知识产权资产证券化价格的要素,建立证券价格敏感度曲线模型,并研究知识产权资产证券价格函数在各要素作用下的敏感度及非线性曲线的变化规律。首先通过文献回顾挖掘知识产权资产证券化的价格影响要素,随后利用知识产权资产价格非线性曲线的斜率及弧度建立证券价格敏感度度量方法,为知识产权资产证券化的价格敏感度分析提供定量化表达。研究结果显示:证券价格对证券期限长短及现金流变化频率的敏感性较高,而证券收益率越高,证券价格对其变动的敏感性越低。研究旨从理论创新及指导实践两方面为科技型中小企业开展知识产权资产证券化提供建议。
In order to analyze the factors that affect the price of intellectual property asset securitization,this paper establishes the securities price sensitivity curve model,and studies the sensitivity of intellectual property asset securities price function under the action of each element and the variation law of nonlinear curve.Firstly,the price influence factors of intellectual property asset securitization are excavated through literature review,and then the slope and arc of the nonlinear curve of intellectual property asset price are used to establish the securities price sensitivity measurement method,so as to provide quantitative expression for price sensitivity analysis of intellectual property asset securitization.The results show that the sensitivity of securities price to the duration of securities and the frequency of cash flow change is higher,while the higher the return rate,the lower the sensitivity of securities price to its change.The purpose of this study is to provide suggestions for the development of intellectual property asset securitization in small and medium-sized technological enterprises from the aspects of theoretical innovation and guiding practice.
作者
曲江
刘洪伟
朱慧
左妹华
Qu Jiang;Liu Hongwei;Zhu Hui;Zuo Meihua(School of Management,Guangdong University of Technology,Guangzhou 510520,China;School of Management,Guangzhou University,Guangzhou 510006,China;School of Architecture and Civil Engineering,Huizhou University,Huizhou 516007,China)
出处
《科技管理研究》
CSSCI
北大核心
2020年第16期200-205,共6页
Science and Technology Management Research
基金
国家自然科学基金项目“电子商务交互式决策助手对用户购物决策行为的影响与演化研究”(71671048)
广东省哲学社会科学“十三五”规划青年项目“信息集成理论视角下客户满意度对共享经济影响机理研究”(GD19YGL15)
教育部人文社会科学研究青年基金项目“基于多模态关系的社会互信对分享经济发展的影响机理研究”(19YJCZH278)。
关键词
知识产权
资产证券化
价格敏感度
科技型中小企业
intellectual property rights
assets backed security
price sensitivity
small and medium-sized technological enterprises
