数据资产化对中小企业银行贷款的影响研究

A Study on the Impact of Data Assetisation on Bank Loans to SMEs

摘要: 数据资产作为企业具有核心竞争力的关键生产要素和战略资产，能够发挥降本提质、交易增值和信用担保的作用，有助于缓解中小企业融资约束。考虑到中小企业融资更多依赖于银行贷款，因此，本文选取2011~2023年沪深A股中小上市公司数据，考察数据资产化对中小企业银行贷款的影响研究。研究发现，数据资产化程度较高的企业能从银行获得额度更大、期限更长、利率更低的贷款。异质性分析表明，高盈利能力企业的数据资产化对银行贷款的影响更显著。

Abstract: Data assets, as the key production factors and strategic assets with core competitiveness of enterprises, can play the roles of cost reduction and quality improvement, transaction value-added and credit guarantee, which can help to alleviate the financing constraints of SMEs. Considering that the financing of SMEs relies more on bank loans, this paper selects the data of SMEs listed companies in Shanghai and Shenzhen A-shares from 2011 to 2023, and examines the impact of data assetisation on bank loans of SMEs. It was found that firms with higher data assetisation were able to obtain loans from banks in larger amounts, with longer maturities and at lower interest rates. Heterogeneity analysis shows that data assetisation of high profitability firms has a more significant impact on bank lending.