Study On Evaluation Of Effectiveness Of Creative Industrial Policy In China

In order to prop up the development of creative industry, the central and localgovernments have introduced a series of preferencial policies for the industry since2004, and then definitely offered to develop the creative industry vigorously. Till now,the creative industrial policies have been implemented for almost 5 years in China. Theoutcome of its implementation, i.e., the effectiveness problem of industrial policy, is animportant research theme.The practice of foreign industrial policies indicates that industrial policy plays animportant role in many areas such as dealing with market failures, promoting theextraordinary development of industry, as well as enhancing the internationalcompetitiveness of domestic industy. Compared with the traditional industries, creativeindustry is very different because it is endowed with both economic and culturalproperties, which lead to the fact that its policy environment for growth andindustry-stimulating mechanism are more complex. At present, under themacro-industrial envirnroment where our government energetically promotes thedevelopment of creative industy, the fundamental research on creative industies ingeneral lags behind its practical needs. There is a lack of domestic research on theissue of industry policy's effectiveness in the process of creative industry developmentin China. Therefore, based on the premise of marketization and industrialization in thecreative industy in China, this dissertation studies the quantitative evaluation on theeffectiveness of creative industrial policy with the fuzzy whitenization gray-relationmethod and the principal component method. The main contributions are as follows:First of all, from the perspective of macro-industrial envimroment, thisdissertation thoroughly analyzes the operating status of creative industy in China, andthen the analysis explores that the performance of creative industry, as a whole, waspoor. In accordance with such objective situation of creative industry in our country,from a micro-industrial view, we continue to analyze the firms' merging decisions increative industry under Coumot competition, and obtain the firms' profit functions inequilibrium. Moreover, we further develop a real options model to demonstrate the behavioral characteristics and the corresponding decision-making methods for creativeenterprises' survival and growth in a dynamic framework.Secondly, assuming that the creative industrial policy will not change in the lifecycle of creative industry, from the dynamic perspective, we construct the fuzzywhitenization and gray-relation analysis model for evaluating the effectiveness of theindustrial policies based on the creative industrial life cycle. On this basis, we conductthe questionnaire survey in those cities, which have a sound foundation suitable forrapid growth of creative industry, such as Beijing, Hangzhou, Guangzhou, Shanghai,Chengdu and Shenzhen etc.. According to the basic collected data, we empiricallystudy the effectiveness of creative industrial policy in China by applying the fuzzywhitenization and gray-relation analysis model. The results show that the effectivenessof structual policy is the best, followed by the industrial location policy, the third is thecultural and institutional innovation policy, the fourth is the policy of industrialorganization, and the fifth is the technical policy.Thirdly, to evaluate the effects of industrial policy on the performance and growthof enterprises in creative industry, we select listed companies among the creativeenterprises as tipical representatives. From three dimensions which are thedevelopment capability, profitability and shareholder profitability, we syntheticallyevaluate the dynamic performance changes of these listed companies from 2003 to2006. The results show that the increasing trend of listed companies' performancesdidn't present a sustained and stable growth during these 4 years. Furthermore, theresults from empirical research indicate that in general, the creative industrial policiesin China are poorly effective at the present time, and the policy impetus for creativeindustrial development is not significant.