[PROBLEMS] To provide a photosensitive resin composition which has excellent photosensitivity and gives a cured product reduced in warpage and excellent in flexing properties, adhesion, pencil hardness, solvent resistance, acid resistance, heat resistance, resistance to gold plating, etc.[MEANS FOR SOLVING PROBLEMS] A urethane resin (A) soluble in aqueous alkali solutions and curable with active energy rays which is obtained by reacting a diisocyanate compound (a) with a tetrabasic acid dianhydride (b) to obtain a compound (E), reacting the compound (E) with a hydroxylated compound (c) having an unsaturated group and optionally with a hydroxylated compound (d) other than the compound (c) to obtain a compound (F), and further reacting hydroxy groups of the compound (F) with a diisocyanate compound (e).