摘要
科创企业具有“高收益、高风险、轻资产”的特点,与商业银行服务的传统客群存在明显不同,商业银行服务科创企业面临着如何选择目标客群的挑战。本文运用量化分析方法,尝试对此问题进行研究,从企业和行业两个层面为“投贷联动”服务科创企业提供量化策略。首先,对商业银行投贷联动的相关理论和实践进行梳理。其次,在企业层面,从“投”和“贷”两个维度,基于新三板“专精特新”企业样本集,挖掘筛选适合股权投资和信贷融资的目标企业名单并取交集,在此基础上通过数据挖掘分析得出目标企业客户画像。再次,在行业细分赛道层面,分别从国家政策导向、行业集中度、金融可得性三个维度构造指标,筛选出12个商业银行可重点关注的战略新兴领域子行业名单。最后,提出应用场景建议,供实践参考。
Selecting science and technology firms deserving of venture loans and other financial services is an important issue for commercial banks.Using a quantitative method of analysis,this paper makes use of data from the New Third Board to compile a list of firms that are both suitable for equity and debt investment.It develops a possible investment strategy at the enterprise level and at the industrial level,and selects a list of strategic and emerging areas that commercial banks can focus on.This paper also provides suggestions on scenarios that are appropriate for applying this quantitative strategy.
作者
张帆
王文军
刘蕊
ZHANG Fan;WANG Wenjun;LIU Rui(Investment Banking Division,Agricultural Bank of China)
出处
《金融市场研究》
2023年第9期55-67,共13页
Financial Market Research
关键词
商业银行
投贷联动
专精特新
量化策略
Commercial Bank
Venture Loan
Specialized and Sophisticated SMEs
Quantitative Strategy
