The invention relates to binding agents for radiation-cured aqueous paints, said agents containing reaction products ABCDE composed of A epoxy compounds with at least two epoxy groups per molecule, B unsaturated fatty acids, C olefinically unsaturated monomers, D compounds containing unsaturated aliphatic hydroxyl groups and E multi-functional isocyanates, whereby the compounds C are always directly bonded to the compounds B, the compounds D are always directly bonded to the compounds E and the compounds A are always directly bonded to the compounds B. The invention also relates to methods for producing said binding agents and to the use thereof.