A method for the preparation of a photocurable resin by a reaction comprising the following steps i) reacting a mixture of a novolak type epoxy resin (A) and a dicyclopentadiene-phenol glycidylether resin (B) with ii) an advancement component (C) containing at least 2 phenolic hydroxyl groups per molecule; iii) reacting with an unsaturated monocarboxylic acid (D); and iv) esterification of the unsaturated group containing resin obtained from the steps of i) to iii) with a polycarboxylic acid anhydride or a carboxylic acid anhydride (E) is disclosed.