Research Of The Investment Efficiency And Influencing Factors Of Hubei Culture Industry

Based on previous studies, this thesis conducts a systematic research to Hubei culture industry. It focuses on the investment efficiency and the influencing factors of Hubei culture industry. The core influencing factors are expected to be found out to make advice about future investment decisions.This thesis introduces the current situation of Hubei culture industry in detail. It analyses the investment efficiency and the influencing factors of Hubei culture industry using DEA model and multiple regression model respectively. According to the data analysis, the technology efficiency of Hubei culture industry, which is higher than the average of 27 provinces, fluctuates up in recent years though it never reaches DEA efficiency. The pure technology is growing continuously but it still remains in a low level. The scale efficiency performs well. The results of regression show that there are four core influencing factors which are the ratio of R&D investment/ culture institutions per 10,000 people/ the ratio of payment on culture and entertainment and per capita income. On the contrary, the contribution of R&D people/ work force in culture industry and local environment need to be improved. Many actions can be taken to improve Hubei culture industry. Policies should be renewed and investment should be adjusted. R&D needs more investment and culture institutions should be reformed. It is advisable to increase per capita income and guide culture consumption. At the same time, much should be done to foster talents and avoid the brain drain. What's more, finance payment and society capital should be used reasonably to create a favorable environment for culture industry.