Factors Of Affecting Chinese Cultural Enterprises Financing Efficiency

With the party’s congress proposed to vigorously develop cultural undertakings, which promote the prosperity of cultural industries,the development of China’s cultural industry has been government support,that promote cultural industries have become a pillar industry of the national economy emerging. Against this background,China’s cultural industry into an unprecedented period of rapid growth,various cultural enterprises have expanded their business scope,achieve business diversification,while the upstream and downstream industry chain merger integration activities,and strive in the competitive consumer market dominant position. As for cultural enterprises in terms of development activities,adequate capital is an important prerequisite,to this end,cultural enterprises in the capital market has become increasingly active in financing activities,its purpose is to absorb adequate capital, and put tnto corporate production activities, which will directly promote all types of innovation and R & D activities such as corporate culture class, and will provide more power for the transformation and upgrading of enterprises.Firstly, the concept and characteristics of cultural industries starting to explain its unique position compared to other industries in the same time introduce the cultural industry in the development of the situation at home and abroad, and stressed that the financing needs of the cultural industry primarily by internal factors and external causes common effect.Secondly, the introduction of the current status of China’s cultural industry financing basis, summed up an active role in the current financing mechanisms for development of cultural industries, and pointed out that, although the current financing mechanisms to meet the cultural industry to some extent from the financing needs, but cultural enterprises financing problem is still a need for a comprehensive solution to the problem, which also includes major performance difficulties in financing and in-depth analysis of the causes of financing difficulties.Thirdly, from a cultural point of view of their own enterprises, research and cultural enterprises financing efficiency factors, the index representative of all aspects of internal capacity as the independent variable and representatives from the financial capital efficiency index ROE (ROE) as the dependent variable, internal factors and cultural enterprises financing efficiency by introducing econometric models to study the effects and then t test and F test for the measurement of the established model to ensure that the model is reasonable.Depending on the result of the draw, cultural enterprises internal growth capacity, operational efficiency and profitability of the financial efficiency of enterprises has a positive effect, can facilitate the smooth progress of its financing activities by increasing their own level of development; and while the company’s internal liquidity financing efficiency of enterprises has a reverse effect, which means that the number of cultural enterprises to ensure the liquidity of assets, to ensure its ability to prevent and resolve risks, but also focus on the role of current liabilities, in particular the role of liquidity to meet liabilities cultural enterprises short-term financing needs.Finally, according to the results of this empirical analysis undertaken, proposed cultural enterprises can develop and improve their profitability and maintaining good liquidity and other measures to improve the efficiency of its financing from its own point of view; in addition to improve and perfect the external financing environment can also make indirect cultural enterprises financing activities to be carried out smoothly.