The Research On The Effect Of The Financial Support For The Culture Industry's Innovation In China

In the early twentieth century,economists had already found the financial intermediaries would introduce the social resources to the tech-innovating department that short of capital from the rich one by recognizing the most innovative entrepreneur and the most advanced enterprises.Thus,the optimal allocation of resources might be realized so that the total factor of social productivity would be promoted and the economy would be bounced.This remains true when it comes to the culture industry.The debt financing,which is mainly made up by the commercial banking,and the equity financing,which includes securities and funds,would effect the culture industry's innovation in different levels through different methods.This paper combed the study methods and the study results of culture industry both at home and abroad.Based on this,we summarized all the relative theories about the financial support for the industry's innovation.After we found our researching route and researching direction,we dwell on studying the effects of financial support,which includes the debt financing and the equity financing,to the culture industry's innovation.Thus,we built the random effect model and the fixed effect model based on the R&D departments' management performance of operating institutions on the cultural market all over the 31 provinces.We tried to figure out the relationship between the financial support and the culture industry's innovation,we found that the debt financing might improve the managing performance of the R&D departments but we didn't find any evidences to show that equity financing may do the same,and the government finance might improve the innovation progress.Finally,we provided suggestions,which based on the results that made by the previous two parts,through the government finance,the debt financing and the equity financing aspects.