Research On Cultural And Creative Enterprises’ Financing Efficiency

In the era of knowledge economy, the customers require more fresh and abundant experience. The material elements are gradually replaced by the non-material ones, which become leading power for fortune creation and core competitiveness for the enterprises. We need to integrate the creativity into corporate culture in order to keep the competitiveness in the changing global stage. The creativity has become one of the most important resources for companies’ development. The cultural and creative industry breaks the traditional concept of industry and is the refining, decomposition and restructure for the culture and creativity of the industrial chain. Individual company develops and utilizes the intellectual property, establishes and maintains the core competitiveness by involving in different areas of the industry. However, the establishment of the culture and creativity industry in our country is relatively late, and the scale is generally small, resulting in financing problems.This paper adopts ways of theoretical research, descriptive statistics and empirical research to put forward the concept of cultural creative enterprises, and summarizes the enterprise characteristics, through the comparison of different concepts and categories from different governments, organizations and scholars. Based on the relevant theory of cultural and creative industries and corporate financing as well as current situation of the industry, this paper analyses the feasibility of different financing channels, discusses the financing predicament of cultural creative enterprises in China and makes use of Data envelopment analysis method (DEA) to evaluate and compare the enterprise financing efficiency. Moreover, this paper learns lessons from the ways and experience of cultural creative enterprises financing in foreign developed countries, and puts forward the countermeasures of perfecting our country’s cultural and creative enterprises financing difficulties. It concludes that to solve the financing problem of the cultural and creative companies needs the joint efforts of the governments, banks and private capitals. Diversified financing channels will contribute to relieving the burden of financing problems of the cultural and creative companies and continuously optimizing corporate capital structure.The innovation points of this paper is to put forward the concept of cultural and creative enterprises independently and analyses their characteristics based on the summary on the previous research, which lays a solid foundation for the later analysis of financing difficulties of culture and creative enterprises. What is more, it makes use of Data envelopment analysis method to evaluate and compare the enterprise financing efficiency, combining traditional corporate finance theory and the analysis of the financing way. Based on the above conclusion, this paper puts forwards more suitable countermeasures for the financing of the culture and creative enterprise in our country, through the comparison of literatures and combination of the theory and the practice of traditional corporate finance.