已有研究表明，专利质押能有效缓解中小企业的融资约束，但如何获得更高额度贷款的机制尚未得到系统性阐释。基于信号理论的双过程框架，本研究以2016—2022年新三板中小企业专利质押数据为样本，实证检验了专利原创性与质押融资额度的关系。结果发现:专利原创性对质押融资金额存在显著的倒U型影响，即适度提升专利原创性可以通过强化信号可观测性增加贷款金额，但过高的原创性会因解码成本太高而抑制融资效果。进一步机制检验表明，两大因素能有效调节这一非线性关系:一是密切的银企互动，通过直接沟通与信任构建，降低银行的信号解读成本；二是董事会成员广泛的外部社会网络，其带来的专业背书与社会认证功能，增强银行对专利价值的识别能力。这两种机制均能使倒U型曲线变得更为陡峭，帮助企业在适度原创性区间内获得更高的融资溢价。本研究拓展了专利质押的前因研究，亦对中小企业专利组合管理和政府政策制定具有启示:适度提升专利原创性并加强与金融机构沟通，可在平衡创新价值与评估成本间获得更高质押融资额度，为破解创新溢价难兑现困境提供了理论依据。

Existing research has shown that patent pledging can effectively alleviate financing constraints for small and medium-sized enterprises （SMEs），but the mechanism for obtaining higher loan amounts has not yet been systematically explained. Based on a dual-process framework of signalling theory，this study used patent pledge data from SMEs listed on the NEEQ between 2016 and 2022 as a sample，and empirically tested the relationship between patent originality and pledged financing amounts. The results showed that patent originality has a significant inverted U-shaped effect on pledged financing amounts，meaning that a moderate increase in patent originality can enhance loan amounts by strengthening the observability of signals. However，excessively high originality suppresses the financing effect due to high decoding costs. This non-linear effect is strengthened by two moderators:1） close bank-firm interactions，which lower decoding costs through communication and trust，and 2） board members' external social networks，which improve the bank's value assessment via professional endorsement. Both factors steepen the curve，allowing firms to capture a higher financing premium at optimal originality levels. This study expanded the research on the antecedents of patent pledging and will provide insights for SME patent portfolio management and government policy formulation:moderately increasing patent originality and strengthening communication with financial institutions can help achieve higher pledged financing amounts by balancing innovation value and evaluation costs，thus providing a theoretical basis for overcoming the challenge of "difficulties in realising innovation premiums".