The Cultural Industry Companies Operating Efficiency Measurement And Influencing Factors Of Research

"Culture industry" is an emerging industry."Much starker choices-and graver consequences-in planning" has the cultural industry as the important growth point of economic development in China,and its development as the pillar industry of the national economy.Cultural industry development in our country,however,neither fully,industry efficiency is not high.So to the cultural industry as an important driving force of our country’s economic growth,the healthy growth of the cultural industry is very important.The efficiency of the cultural industry is the key factors of the healthy development of cultural industry and the rapid growth,one of the research also highlights the importance of this.The current literature study efficiency of the cultural industry is more focused on the macro level,such as the regional level,industry level,industry level and so on,some scholars for micro operating efficiency of the cultural industry of the company,but the sample is small,the coverage of inferior phenomenon exists.This article attempts to the listed company as an example,from the micro-level analysis of the cultural industry of the company’s operating efficiency and find the factors that influence efficiency of its operation.While there is also a small sample,selection of samples is different from others,when looking for factors affecting indicators also has some difference with others,hope to be able to give more variety of empirical research,for the study of the cultural industry of the efficiency of the micro level.This paper,based on the cultural industry of the national bureau of statistics released in 2012 to define the standard selection of listed companies,using the taian database,HeXun,annual companies operating within the tide of information network,etc will have changes and financial condition or other abnormal condition of the company,finally to between 2012 and 2016 by the continued active 36 listed companies as research samples for analysis.About cultural industry listed companies operating efficiency measure,adopted data envelopment analysis(DEA):select the number of employees,total assets,total operating costs as input index,selecting profit as output index.According to DEA empirical results,through the two aspects of pure technical efficiency and scale efficiency analysis of the cultural industry the management efficiency of listed companies.DEA output includes the company’s stage of scale reward,according to the results of the analysis of the current our country culture industry listed companies about the size of the payment,lay a foundation for later analysis.By the DEA results and the comparison of forefathers’research,are obtained the conclusion of China’s cultural industry companies operating efficiency as a whole is low.This article USES Tobit model to analyze the factors that influence efficiency of culture industry management.Reference before scholars on the study of other industry companies operating efficiency,combined with the characteristics of the cultural industry,according to the capital structure theory,X efficiency theory and the theory of scale economy support,finally from the nature of the capital structure,ownership concentration and equity,the company scale,operation ability and time to market index of six aspects:the selection of cultural industry listed companies operating efficiency for regression analysis.According to the results of Tobit regression,capital structure and firm size on cultural industry the management efficiency of listed companies has significantly negative effect,reduce the company’s debt ratio or control the company size was beneficial to the improvement of the cultural industry companies operating efficiency;Company operating capacity and time to market for cultural industry listed companies operating efficiency has significantly positive influence,time to market can be said that the company’s ability to integrate resources,the stronger the empirical results show that the operation ability,the longer time to market,the operational efficiency of listed companies is higher;Nature of equity and equity structure on the culture industry was not significant impact on the operational efficiency of listed companies,the influence of the nature of the equity was not significant may be related to the company’s management level is low.Based on the optimization of capital structure and improve the company’s management level,prudent expand its scale,improve the level of the company operating the four aspects of Suggestions for the improvement of China’s cultural industry companies operating efficiency.