Research On The Impact Of Cultural And Creative Corporate Social Capital On Financing Credit

The enterprise financing theory model mostly view the enterprise as a relatively independent individual object.Scholars study the influence of internal and external factors on financing structure.And these studies did not put the enterprise in the whole social structure to investigate its behavior.However,any organization or individual is in a certain social relationship structure.Companies build partnerships by creating and value exchange based on trust,full share of credit and capital between each other.These are the core contents of social capital.Through frequent trading,contact,can enhance mutual information exchange and communication,strengthen the trust,so as to reduce the cost of financing,is conducive to the smooth progress of corporate finance.Therefore,this article from the perspective of social capital,cultural and creative enterprises of social capital on the role and impact of financing credit analysis.In the beginning,this paper has done some things:to tease the research status of cultural creative enterprises' social capitals and corporate finance decisions and clear inter relations between social capitals and enterprises credit,to establish the theoretical basement of social capital and redefine social capitals in cultural creative enterprises.It points that the social capital is some kind of business-beneficial social relation net which can be occupied and invoked by enterprises,including social net structure,social net relation and credit.Next,social capital measure system of cultural creative enterprises has been established under filed visit and questionnaire.That is to say,business social capitals are measured in the aspects of social net structure,social net relation and credit;comprehensive factors are extracted via factors analysis and principal component analysis.Finally,the empirical study and inspection on social capitals and enterprises credit has been carried out and we found that social capitals have positive effects on enterprises credit.These conclusions have been drawn.First,social capitals of cultural creative enterprises benefit greatly enterprises' commercial credit in scale,especially when the quite scale has been achieved.Second,enterprises' social capitals have positive effects on net commercial credit,when commercial credit has a relative small scale.Third,the effects on bank credit by social capitals are not so direct as commercial credit with some limitation and hysteresis and the stimulation effects on bank credit by social capitals don't present and keep up for next some time until enterprises'commercial credit reaches some level.Furthermore,the improvement of social capital and commercial credit has a promoting effect on bank credit.