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The impact of technology finance policies on the systemic risk of bank-firm networks

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  • Qianqian Gao
  • Hui Wu
  • Chao Yang

Abstract

Based on the perspective of the firm life cycle, this study constructs a complex bank-firm network system model under the influence of four technology financial policies (special funds, tax incentives, loan subsidies, and risk sharing) by depicting the behaviours of scientific innovation firms and banks. It examines the impact of the technology financial policies on the systemic risk of the bank-firm network system. Furthermore, this study examines the implementation effects of different technology financial policies at the three stages of start-up, growth, and maturity of scientific innovation firms. Based on the study, loan subsidies are the most effective of all four technology financial policies; however, the strength of the loan subsidies should be controlled in order to avoid excessive bank-firm credit exposure. Moreover, the study finds that policy support for scientific innovation firms is most effective during the start-up stage.

Suggested Citation

  • Qianqian Gao & Hui Wu & Chao Yang, 2024. "The impact of technology finance policies on the systemic risk of bank-firm networks," Applied Economics, Taylor & Francis Journals, vol. 56(38), pages 4611-4631, August.
    • Handle: RePEc:taf:applec:v:56:y:2024:i:38:p:4611-4631
    DOI: 10.1080/00036846.2023.2212971
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