Impact of Technological Innovation on SMEs’ Bank Loans: Moderating Effect of Bank-enterprise Relationship

DOI

10.2991/iccese-19.2019.382How to use a DOI?

Keywords

technological innovation; bank-enterprise relationship; loan structure

Abstract

This paper explores the impact of technological innovation on SMEs’ loan structure under the moderating effect of the bank-enterprise relationship length as a condition variable. OLS model was established and 487 technological enterprises in Guangdong province were selected. Results show: first, R&D investment, the number of applied patents and authorized patents all affect loan structure negatively; second, when the relationship length becomes longer, technological innovation has positive effect on loan structure. Particularly, the number of authorized patents can effectively raise loan rates, reduce costs and increase long-term loans. On the contrary, the shorter the relationship length is, the faster the loan structure deteriorates; third, under the intervention of relationship length, the pecking order of promoting effect of three technological innovation variables on loans is as follows: authorized patents, applied patents and R&D investment.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yuliang Zhou
AU  - Jinfeng Li
PY  - 2019/04
DA  - 2019/04
TI  - Impact of Technological Innovation on SMEs’ Bank Loans: Moderating Effect of Bank-enterprise Relationship
BT  - Proceedings of the 3rd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2019)
PB  - Atlantis Press
SP  - 1739
EP  - 1742
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccese-19.2019.382
DO  - 10.2991/iccese-19.2019.382
ID  - Zhou2019/04
ER  -