The Research On The Relationship Between Corporate Investment And Enterprise Value

With the advent of the era of world multi-polarization and economic globalizationdevelopment,Direction of the competition between countries has more profoundchanges than before.The cultural industry has become one of the main industries insome developed countries.The country’s cultural industry has formed a huge system ofcultural industry with its superior economic strength and advanced science andtechnology,which is a huge shock to the China’s local culture and values to some extent.It occupies the market of cultural industry in our country in advance. Although thecultural industry in China has become the new force of the development of nationaleconomy,it is limited by its historical factors and a late start.Corporate investment isone of the convenient and rapid ways to create wealth.There exists a blindinvestment in the culture industry because of the situation of capital market in ourcountry and national conditions which affects the efficiency of culture industryinvestment and the promotion of enterprise value. cultural industry of our country mustgrow up quickly, improve enterprise value quickly,improve the internationalcompetitiveness of the enterprise quickly in face of the fierce shock from the foreignculture.The article mainly interprets the relationship between the China’s culturalindustry investment and corporate value with the empirical analysis base on the groundto find out the method of improving investment efficiency and promoting enterprisevalue,which serves as a reference to the same industry, promotes the overalldevelopment of cultural industry.The article mainly includes six parts. The first part is mainly about theintroduction of the selected topic background, the research purpose and themethod;The second part summarizes the necessity and important significance of theresearch about the relationship between culture industry investment and enterprisevalue.the third part is mainly about the definition and theory which provide theoreticalfoundation for empirical research with summarizing the characters of investment in domestic enterprises.The fourth part is the research design. Coming up with datamodeling and index variables through the description and analysis of the theory of thethird part.The fifth part is the empirical conclusions, which includes the description,correlation and regression analysis.Conclusion proves that culture industry investmenthas not obvious correlation with Tobin’s Q value, the return on equity (both as themeasure of enterprise value).However, earnings per share as indicators of theenterprise value has significantly positive correlation with investment. The part alsoanalysis the conclusion.The sixth part mainly puts forward reasonable suggestion andthe deficiency of this article for empirical research results.The domestic and foreign scholars has made fruitful results about the relationbetween investment and enterprise value.As to the views of industry,the most ofresearch are about traditional industry, such as manufacturing and real estate industries.However the research about cultural industry seem to be a shortage.As to the directionof the cultural industry research,most of the research focus on the relationship betweeninvestment, financial and capital structure,and some conceptions.It is just as auxiliarytool and estimated at the time to the enterprise value which does not only conform tothe principle of investment efficiency to play, but also did not develop into anindependent research systems.Therefore, this article has a research base on the principle of economics for input inthe first output in the after.the theory has a certain predictability and complementary.