China's Cultural Industry Debt Financing Factors

The development of the cultural industry is one of the important indicators to measure the soft-power of a country, and financial institutions to support its rapid development of the cultural industry guarantee. Since most of the cultural industry development time is not long, small-scale, and intangible assets in the proportion of total assets, the credit rating is not clear, and culture class enterprise financing difficult problem has been solved. The whole idea of this paper is to study the problem of debt financing in the framework of the theory of corporate finance focus. However, since the inception of the1958MM theory of corporate finance structural problems are concentrated in the proportion of debt and equity, by contrast, less involved with research on the type of structure of corporate debt financing and debt financing term structure, this article topic is based on the theory of corporate finance structure and the status of Chinese culture corporate debt financing, Cultural Enterprises in the analysis of the theory of debt financing at the micro level, microeconomic theory and chart data analysis strive to be able to carry out a systematic study of China’s cultural industry debt financing system.In this paper, the theory of corporate finance structure system focus on debt financing for cultural enterprises. First, to sort out the existing research literature, explore the theoretical foundation of debt financing, and foreign research results, the premise of the theory of micro-finance, the formation of the theoretical framework of this article. Secondly, the cultural industry will be introduced, including the definition and classification of the cultural industry, cultural industry development status at home and abroad compared to the status quo of China’s cultural industry. Analysis of the impact of debt financing structure factors from a variety of angles again, and make assumptions based on previous studies, to build a model. Annual data listed cultural enterprises and conducive to an empirical test, concluded that analysis of the effects of debt financing decisions, in order to provide empirical data for the culture of corporate debt financing debt financing options.I believe that this paper has done some interesting work in the following areas and innovative efforts to form a certain amount of experience and conclusions.1) In this paper, the Cultural Industry systematic induction and foreign cultural enterprises, in order to show China’s cultural industry’s most intuitive screen.2) the systematic study of the company’s debt structure choice, both previous research results, but also put forward their own views, and analysis of the factors affecting the debt financing structure from different angles, microeconomics theory building model to study the impact of debt financing factors.3) concluded that in the empirical analysis of the impact of debt financing factors:corporate profitability and growth would be enhanced, the debt level will be reduced.4) In this paper, the debt financing of the status quo of China’s cultural industry analysis, internal and external to optimize corporate debt financing countermeasures.