| Intangible assets have become a crucial driver of economic growth.They are important assets that embody the ability of enterprise innovation and sustainable development.The amount and quality of intangible assets are regarded as the symbol of core competitiveness.Patent and other intellectual property especially have determined whether enterprises,even countries have core competitiveness.Bank loans are important source of external financing for companies in China.In 2015,the total amount of bank sector loan is 99.3 trillion.Being able to get a high mount of bank loans and long term bank loans at low cost is beneficial for companies to improve production capacity,capital chain and competitiveness.By combing the literature,there is a myriad of literatures linking various accounting information and the usefulness of bank loan financing.Considering the essential position of intangible assets information in accounting information,this thesis analyzes the relationship of intangible assets quality and bank loan.Based on the related research,I construct the quality evaluation system of intangible assets from the whole quality and internal structure quality aspects,by profitability,innovation,sustainability dimension,This thesis chooses the list companies of non-financial enterprises on the Growth Enterprise Market as the research objects,based on the financial data from 2011-2015.The mainly results focus on the relationship between the quality of intangible assets and the amount,term,cost of bank loan financing.Through the research,it’s concluded that the results of empirical study as follows: the promotion of the quality of intangible assets can effectively increase the amount,the term and reduce the cost of bank loans.With respect to non-knowlege intangible assets such as the franchise and land tenure,the creditors will pay more attention to intellectual property such as patents and copyrights,namely the technology intangible assets are beneficial for bank loan.Furthermore,the higher the proportion of intellectual property,the lower the cost of bank borrowing,the larger amount of bank loan and the positive relationship is more important in the company which intangible assets are the main source of value.Finally,according to the research results,I put forward some pertinent policy suggestions: enterprises should improve the quality of intangible assets.Bank decisions should pay more attention to intangible assets.Government departments should increase intangible innovation support.The innovations of this thesis are as followed.Firstly,based on the existing theoretical research,the quality evaluation system of intangible assets is constructed.Secondly,there are some new findings which can enrich the literature,that is,the quality of intangible assets has impact on the extent of bank loans.Thirdly,considering the importance of intangible assets on the Growth Enterprise Market,it offers the theoretical basis and empirical evidence to the government to further revise relevant policy,and the findings will be good for solving the enterprise financing problems. |
