数据资产可以证券化吗？——四种可行模式的运行机制和主要特点探讨

摘要/Abstract

摘要： 随着数据要素市场快速发展，数据要素的商业价值正在逐渐被企业关注和认可，数据作为一种重要资产，已成为企业发展过程中不可忽视的关键要素之一，数据要素从资源化到资产化再到证券化的价值实现路径，为企业开启了一条全新融资渠道。本文尝试对数据资产证券化的概念、可行性以及可能潜在的风险进行解析，在创新实践经验的基础上探索性提出数据资产证券化的四种模式，深入探讨了每种模式的运行机制、主要特点和适用企业，并对未来支撑数据资产证券化高质量发展的相关配套政策和监管机制进行了展望，以期能够对我国数据资产证券化高质量发展提供有益参考。

关键词: 数据要素, 数据资产, 资产证券化, 融资渠道

Abstract: With the rapid development of the data element market, the commercial value of data elements is gradually being paid attention to and recognized by enterprises. As an important asset, data has become one of the key elements that cannot be ignored in the process of enterprise development. The value realization path of data elements from resource to asset and then to securitization has opened up a new financing channel for enterprises. This paper attempts to analyze the concept, feasibility and possible potential risks of data asset securitization. On the basis of innovative practical experience, four models of data asset securitization are exploratorily proposed, and the operating mechanism, main characteristics and applicable enterprises of each model are discussed in depth. Then we deeply explore the operating mechanism, main characteristics, and applicable enterprises of each model, and propose the relevant supporting policies and regulatory mechanisms that can support the high-quality development of data asset securitization in the future, in the hope of providing useful reference for the high-quality development of data asset securitization in China.

Key words: data elements, data assets, asset securitization, financing channel

胡正卿, 孙湛, 黄倩倩, 易成岐, 于施洋. 数据资产可以证券化吗？——四种可行模式的运行机制和主要特点探讨[J]. 管理评论, 2024, 36(12): 37-46,59.

Hu Zhengqing, Sun Zhan, Huang Qianqian, Yi Chengqi, Yu Shiyang. Can Data Assets Be Securitized—Discussion on Four Feasible Modes[J]. Management Review, 2024, 36(12): 37-46,59.

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