Research On Government Subsidy Of China Network Culture Industry

The network culture industry is an emerging industry all over the world and is increasingly becoming a new impetus for the economic development of various countries.Most countries adopt supportive policies for this industry.At present,China's network culture industry is showing an explosive growth trend.The new formats represented by Online Games,Online Video,Online Music,Online Animation and Online News Media have begun to take shape and gradually become a new growth point of national economy.On the one hand,this benefits from the improvement of China's network infrastructure and the continuous expansion of consumer groups,on the other hand,thanks to the government's policy support.In recent years,the country has issued many important policies concerning the industry,from clarifying the important status of the industry to the change in the statistical scope of cultural industry,and various fiscal,tax and financial support policies.The various government resources provided by these fiscal,tax and financial support policies are finally classified as government subsidies at the enterprise level.However,there is still controversy about whether the government should intervene and support the development of the network culture industry.What are the relevant policies on the support of the network culture industry? How can the huge subsidies formed by the support policies be implemented at the level of the network culture enterprise,and whether the subsidies have realized the government departments the stated goals? These issues need to be further explored.Therefore,it is of great theoretical and practical significance to study the government subsidy of China's network culture industry.By combing the existing literature,it is found that: First,there is no authoritative and unified definition of the network culture industry at home and abroad.Many scholars or departments refer to it as digital creative industry,digital cultural industry,digital content industry,Internet culture industry,etc.Second,most of the existing research on government subsidies focuses on strategic emerging industries,information technology industry,and so on,with few studies on the network culture industry as the object.Third,the research on the government subsidies of network culture industry mainly focuses on the qualitative,less to study the performance of government subsidies by quantitative methods;Fourth,when examining the impact of government subsidies on enterprises,generally only examine the role of overall subsidies,and less examine the differences in the effects of different types of subsidies,and there is still room for refinement of the types of government subsidies..Based on this,this dissertation focuses on China's network culture industry and studies its government subsidies based on the logic of “Why is it–How is it–Whether it works”."Why is it" is to solve whether it is necessary for the government to subsidize the network culture industry,which requires research on the characteristics of the network culture industry and the practical necessity under China's national conditions.“How is it” is to analysis and understand the current situation of government subsidies for China's network culture industry.This requires sorting out the existing relevant policies on China's network culture industry and studying the overall characteristics and content characteristics of current Chinese network culture enterprises' access to government subsidies.“Whether it works” to solve the problem of whether the government subsidy is effective,that is,the performance evaluation problem,which needs to verify whether the government subsidy(including overall government subsidies and different types of subsidies)plays a positive role in the operational performance,innovation and social responsibility of the network culture enterprise.The ultimate purpose is to provide the basis for the government to support the network culture industry through subsidies,and to help them better formulate and amend subsidy policies,realize the optimal allocation of subsidy resources,and promote the rapid development of the network culture industry.The research contents of this dissertation mainly include three parts:The first part is the research on the necessity of the government to support the development of network culture industry through subsidies.This dissertation uses the inductive deduction method to clarify and improve the network culture industry concept and systematically study the various characteristics of the network culture industry.Then,the dissertation discusses the theoretical basis of the government to support the industry from Market Failure Theory,Industrial Competitiveness Theory and Infant Industry Protection Theory.Next,after introducing the current situation and reasons of the emerging formats of China's network culture industry,this dissertation discusses the practical necessity of the government to support the development of the network culture industry through subsidies from the perspective of China's economic transformation and cultural system reform.Moreover,this dissertation tries to clarify the role that the government should play in the development of the network culture industry.The second part is a comprehensive analysis of the status quo of government subsidies for China's network culture industry.First,according to the key nodes of important policy introduction or technological progress,the development of China's network culture industry is divided into six stages,and the corresponding policies of each stage are sorted out in detail,and finally the policy evolution,characteristics and problems are summarized.Second,according to the amount of government subsidies disclosed in the annual reports of 179 listed network culture companies screened(132 companies in core areas and 47 companies in related fields),this dissertation analyzes the characteristics of government subsidies for China's network culture industry,including the distribution characteristics of overall subsidies and different types of subsidies based on ownership,subdivided industries and regional differences.Moreover,it verifies whether the ownership,subdivided industry and regional are the factors that affect the government subsidies of network cultural enterprises through one-way ANOVA and Least-Significant Difference method.Third,it analyzes the content structure of government subsidies for China's network culture industry.Based on the purpose and specific orientation of subsidies,the subsidies detailed subjects of sample enterprises are classified into seven content sections,and the content structure characteristics of subsidies are revealed through statistical analysis.The third part is the effectiveness test of government subsidies for China's Internet culture industry.This dissertation establishes a comprehensive evaluation framework for the effectiveness of government subsidies for the network culture industry.Using the unbalanced panel data of 179 network culture sample companies from 2013 to 2017,it empirically examines the impact of government subsidies on the operating performance(financial performance and market value),innovation and employment increase of network culture enterprises.Not only examining the impact of the overall government subsidies,but also examining the impact of three types of subsidies,namely Financial Allocation,Government Reward and Tax Incentives,on network cultural enterprises.Throughout the empirical research,,it also considers whether ownership and subdivided industry have a moderating effect on the relationship between the subsidy and the performance of network culture enterprises.In addition,it examines whether the R&D investment plays a mediating role between the subsidy and the innovation of network culture enterprises.The research conclusions of this dissertation can be summarized as follows:First,the network culture industry is a dynamic concept of constant change and evolution.By sorting out the numerous concepts of government departments,research institutions and scholars,we can see the emergence of these concepts from cultural and creative industries,cultural content industries to digital cultural industries,digital creative industries,digital content industries to Internet cultural industries and network culture industries.It is the inevitable result that cultural industry and technological integration at different periods.Therefore,with the progress of technology and the deep integration of culture and technology,the definition of network culture industry is bound to continue to evolve.Second,China supports the network culture industry has a theoretical basis and practical needs.The network culture industry has three attributes of economy,culture and ideology.At the same time,it shows strong industrial integration and technological correlation,which make it have advantaged that other industries do not have.It is found that Market Failure Theory(externality,public goods,and signal transmission theory),Industrial Competitiveness Theory and Infant Industry Protection Theory provide a theoretical foundation for the government to intervene in the network culture industry.At the same time,China's economic transformation development,deepening the cultural system reform and alleviating the reality of the financing dilemma of technology-based small and medium-sized network culture enterprises also require the government to support the development of the network culture industry.However,the government should be clearly positioned as the regulator and provider of public network culture products,the guide and regulator of the development of network culture industry,and the builder and defender of network culture market order.Third,China's network culture industry subsidy policy is constantly enriched but still needs to be optimized.China's network culture industry can be divided into six stages from the beginning to the present,and the management and subsidy support policies have experienced a process from scratch and continuous enrichment.The existing subsidy policies present some characteristics and issues: the specialization of regulation and the generality of government subsidies.The subsidy policies for promoting the network transformation of traditional cultural industries are more than those for supporting the emerging network cultural industries.The subsidy policies are not specific enough and have certain passivity and lag,and so on.Although China has formed a comprehensive subsidy policy system that includes various means such as financial funds,special funds,tax relief,government procurement,loan discount,premium subsidies,project subsidies and rewards,but the mechanism for evaluating the effects and performance of various policies and measures has not been established.Fourth,China's network culture industry subsidies are universal and complex.The coverage rate of government subsidies for listed companies in China's network culture industry is above 95% from 2013 to 2017,indicating that subsidies are “universal” policies for online culture listed companies,rather than “special” policies.Financial appropriation is the most important form of government subsidies for listed companies of China's network culture industry,followed by tax incentives;government rewards show the characteristics of “more Items and less amount”.Further research found that state-owned network culture enterprises,related fields enterprises and eastern network culture enterprises have certain advantages in obtaining subsidies compared with non-state-owned,core fields,central and western regions.However,through the one-way ANOVA and LSD multi-comparison method studies,it is found that there are significant ownership and subdivided industries differences in network cultural enterprises in obtaining government subsidies,while regional differences have no statistical significance.Fifth,the technology innovation subsidy is the main content of the network culture industry subsidy.Most of the Chinese government's subsidies to the network culture industry are invested in technology and innovation,which is in line with the characteristics of the network culture industry and technology are highly correlated.Next are the industry special subsidies and project special subsidies.The subsidies for investment and financing,foreign-related subsidies,talent and employment subsidies,and intangible assets subsidies account for less.Sixth,the empirical research results show that:(1)In general,the impact of government subsidies on network culture enterprise operation performance is complex,which has the positive impact on the enterprise market value of and has no significant impact on the financial performance;in terms of network culture enterprise innovation and social responsibility(employment),government subsidies have positive effects.(2)Different types of subsidies have different effects on network culture enterprises.Specifically,financial allocations have a significant positive effect on the market value,innovation and employment promotion of network culture enterprises.Tax incentives have significant positive effects on the market value and employment promotion of network culture enterprises.Government rewards have a negative impact on the innovation of network culture enterprises.(3)Ownership factors do not regulate the relationship between subsidies and network culture enterprises' business performance,innovation and employment.(4)Subdivided industries are important factor influencing the relationship between subsidies and innovation and employment of network culture enterprises.Specifically,compared with the core field of network that that focus on content creation,the related field of network culture that focus on equipment production has a more significant impact on enterprise innovation and employment promotion.(5)R&D investment plays a mediating role between subsidies and innovation of network cultural enterprises.6.63% of the positive promotion effect of government subsidies on innovation of network culture enterprises is realized through enterprise R&D investment.In view of the above main findings and research conclusions,this dissertation proposes the following optimization suggestions for the government subsidy of network culture industry: First,a special network culture industry management system and subsidy system should be established.Second,define the characteristics and effects of three types of subsidies,namely financial allocation,government rewards and tax incentives,and choose the appropriate type of subsidies according to the objectives to ensure that the subsidy works best.Third,break the "inertia of ownership",adhere to the principle of "competitive neutrality" and "ownership neutrality",give equal market status to state-owned and private network culture enterprises,and allocate subsidy resources fairly and reasonably.Fourth,pay attention to the differences in the internal structure of the network culture industry.Since enterprises in the core field are the main body of the network culture industry,which can best reflect the characteristics of the industry,subsidies should be appropriately inclined to enterprises in the core field.Fifth,establish a scientific and effective performance evaluation mechanism of network culture industry subsidy to improve the utilization efficiency of government subsidy of network culture industry.