Research On Intellectual Property Pledge Loans Of Innovative Enterprises Under Dynamic Random Conditions

The development and growth of innovative enterprises require substantial financial support,especially during the stages of innovation research and development and production investment.Innovative enterprises face significant funding gaps and seek credit support from banks and other financial institutions.However,due to the high difficulty and risk of innovation,as well as information asymmetry issues,financial institutions have a lower willingness to lend to innovative enterprises.Therefore,solving the financing difficulties of innovative enterprises is a key aspect of promoting the construction of a strong intellectual property country.Innovative enterprises have fewer tangible assets that can be used as collateral for loans.Considering that innovative enterprises possess a significant amount of intangible assets,such as intellectual property,and that financial institutions have a large amount of idle funds,it is worth considering using intellectual property as collateral for loans from banks and other financial institutions.The progress of technology and economic development have made "intellectual property to assets" increasingly important.Intellectual property collateralized loans can not only increase the utilization of bank funds but also unlock the value of intangible assets for enterprises,alleviating financial pressures and providing a solution to the funding issues of innovative enterprises.Based on this,this article will use intellectual property to inject new momentum into the development of innovative enterprises through collateralized loans.At the same time,by referring to typical cases,loan guarantees will be introduced to diversify risks and achieve mutual benefits.Although intellectual property collateralized loans have been conducted in China for more than a decade,there are still many shortcomings.The article first reviews the current situation and limitations of intellectual property collateralized loans both domestically and internationally.It is found that the amount of intellectual property collateralized loans in China is relatively small and the risks are higher,resulting in low participation from banks.Therefore,to reduce bank risks,the article proposes introducing guarantee companies to diversify risks.Due to the significant volatility and difficulties in evaluating the value of intellectual property,many current evaluation methods are not suitable and fail to accurately capture the characteristics of intellectual property.After reviewing various evaluation methods,the article proposes using option pricing methods with jumps and diffusions to evaluate the dynamic and stochastic value of intellectual property.Furthermore,based on the Nash equilibrium theory,a game model is established to determine the optimal collateralization ratio for both banks and enterprises under different decision scenarios and the optimal decisions in the game.Taking into account the bank’s willingness to actively participate by introducing loan guarantees,the Nash equilibrium is used to determine the optimal collateralization ratio for intellectual property collateralized loans.A comparative analysis is conducted to examine the differences in collateralization ratios and the benefits for both banks and enterprises with and without loan guarantees.The study provides important insights for banks in making collateralization ratio decisions in intellectual property collateralized loan business,and it holds practical and theoretical significance.