The Promotion Function Of Cultural Industry Investment Fund In Promoting The Development Of Cultural Industry

Since Chinese economic reform and open up,the economy of our country has developed rapidly.With the continuous progress of society and economy,people's living standards are getting higher and higher,more and more people,in turn,tend to pursue spiritual values.As a result,the consumption of cultural products increased year by year.As an important part of the comprehensive national power,the Chinese government also attaches great importance to the promotion of cultural "soft power",advocates the development of cultural industry,a variety of support policies are rolled out and implemented.Due to the dual promotion of civil demand and government support,the cultural industry in China has developed rapidly.Without strong financial support,cultural industry would not develop rapidly.Due to the particularity of cultural enterprise,there is often a lack of fixed asset collateral which banks and other traditional financial institutions required.They are having difficulty in raising capital,so the development process will be faced with a larger funding gap,and further development and growth will be limited.The emergence of the cultural industry investment fund provides a new way of financing for the cultural enterprise.It alleviates the financing stress of cultural enterprise to some extent.This paper tries to verify from theoretical and empirical aspects that cultural industry investment fund has promotion function on the development of cultural industry.It bases on theoretical knowledge of Finance and Industrial Economics,uses literature analysis,comparative analysis and empirical analysis to carry out research.This paper uses the enterprise life cycle theory and the industry life cycle theory,theoretically analyses the cultural industry investment fund promotes the development of cultural enterprise and the path of the cultural industry development and then uses their financial data within three years of listing to prove the promotion function of the cultural industry investment for the cultural enterprise.Finally,according to China's cultural industry investment fund shortage emerged in recent years in the investment process,this paper provides several advices from government,cultural industry investment fund and cultural industry those three aspects about how to promote the organic integration between China's cultural industry investment fund and the cultural industry and to form a win-win situation of development.The conclusion of this paper suggests that,firstly,cultural industry investment fund could promote the development of cultural enterprise in the micro perspective through the improvement of the financing structure and governance structure,and then promote the development and progress of the whole cultural industry from the meso perspective.Cultural industry investment fund invests in those unlisted cultural enterprise which have great potentials and brings long-term capital for them which does not require debt service as a strategic investor.The fund improves the financial situation of enterprise,enables enterprise to have the stronger debt pay ability and smaller business risk,injects new impetus to the development of enterprise and gives advices and suggestions for enterprise management,improve the value and promote the development of enterprise.Overall,the fund promotes the development of cultural industry in our country.