The Study Of The Influencing Factors On Efficiency Of Cultural Industry Based On The Theory Of Value Chain

Cultural industry as one of the pillar industries in China has become a new growth point of national economy and demonstrated vigorous prosperity.Compared to the manufacturing industries,cultural industry developed relatively late,and belongs to technology and knowledge intensive industry with unique features like “content is king” and heavy innovation.Therefore,it laid foundation on policy reforms and industry development to explore the influencing factors on the efficiency of cultural industry.Value chain model helps summarize the influencing factors on the efficiency comprehensively and systematically,which provide a novel theoretical basis on empirical analysis.This paper studies the influencing factors on the efficiency of cultural industry based on value chain model from the perspective of theoretical and empirical analysis.To begin with,give the definition,classification and characteristics of culture industry,and then make a summary of the recent research.Based on the Michael Porter's Value Chain model,cultural industry value chain is built and divided into basic and supporting activities with total of 7 steps.8 core influencing factors have been selected by analyzing each step of value chain,namely innovation,intellectual property,marketing capability,customer value,human capital,intellectual capital,financial position and policy support,which constitute the influencing factors of cultural industry's efficiency evaluation index system on the basis of value chain.In empirical terms,this paper measures the 2008-2013 total of 4096 Shanghai cultural enterprises' TFP with OLS,FE,GMM and OP method.Then,make a regression of the influencing factors of cultural industry's efficiency evaluation index system on the basis of value chain.It is concluded that innovation,customer value,financial position and government support can significantly promote TFP.At the meanwhile,intellectual property has no significant impact for its low innovation level,and human capital shows negative impact because of over-education.To further study the role of human capital,this paper finds it has a diminishing marginal contribution and presents “inverted U-shaped”.Finally,the conclusions give China's cultural industry recommendations,just as encouraging innovation,improving human resource management and creating favorable policy environment for development.