A Study Of Incentives Of Creative Talents Based On The Principal-Agent Model

With the continuous development of science and technology, people’s material living standards have been improving. As a result, the consumption concepts and patterns have undergone tremendous changes. That is, the consumption demands have been upgrading. Most consumers pay more attention to spiritual and cultural or artistic products consumption. At the same time, because of the exhaustion of the non-renewable resources and the degradation of environment, many countries called on the transformation of the ways of economic growth. In this context, the Cultural and Creative Industries which helps to save energy and protect environment have been emerging, developing and flourishing rapidly. As the Creative talents are the key elements for promoting the development of Cultural and Creative Industries, and are also essential for enterprise survival and development of innovative enterprises. Besides, they are helpful for a creative enterprise to obtain a source of competitive advantage.Therefore, this paper will explore the incentive of the creative talents within the enterprises. In other words, we will discuss the topics that how the competency and demands of the creative talents affect the choice of creative behavior. Firstly, we analyze the characteristics of creative activities based on which we define creative talents and describe the personality traits and the essential capabilities. And then we investigate how the competency and demands of the creative talents affect the choice of creative behavior. Creative talents are mainly engaged in creative activities that can be divided into commercial-oriented and non-commercial-oriented activities, the former mainly make profits, the latter primarily create cultural values. Under certain conditions,cultural values can be transformed into economic value. Based onthe hypothesis of rational human being, the agent pursues the utilitymaximization of cultural values and economic values, while thecompany seeks the profit maximization. And due to thecharacteristics of creative activities and the uncertainty of creativeresults, it is likely to engender principal-agent problem. Therefore,this paper discussed the creative behavior choices in theprincipal-agent model to explore under different autonomy.Owing tothe limitation of time and ability, it is difficult to measure the leveland composition of the capacity, we don’t put t this variables into theempirical research. At last, we verified the relationship betweenneeds of creative talents and creative behavior. In this chapter, thedata is analyzed and processed by the application of StructuralEquation Model (SEM) and LISREL8.70.There are some limitations in this study in empirical research.Because of the time and resource constraints, size of the surveysample is normal but not enough, and the survey sample onlyfocused on the design, animation and software design industries,therefore whether the sample is representative needs furtherinvestigation.Finally, we come to some conclusions. Firstly, creative people havedemands on free and comfortable atmosphere, learning, autonomy,self-actualization and economic incentives. And these demandsaffect their behavior. For example, if they have a high degree ofself-realization, they tend to engage more innon-commercial-oriented activities; however, if they have a strongdemand for the material satisfaction, they prefer to devote to thecommercial-oriented creative work. On the other hand, the level andpatterns of the capacity of the creative talents also affect thebehavior of creative talents.