An Empirical Study On The Impact Of Financial Subsidies On The Operational Performance Of Sports Enterprises In China

Under the background of the new normal economy,sports industry has gradually become an important engine for upgrading industrial structure,transforming new and old kinetic energy,and cultivating new economic growth points with its broad market development prospects and development potential.As an important part and force of sports industry,sports enterprises are of great significance to promote the socialization and industrialization of sports in China and to promote the high-quality development of sports industry.Since the State Council issued "Several Opinions on Speeding up the Development of Sports Industry and Promoting Sports Consumption"(Guofa [2014] 46)in 2014,the state has issued a series of favorable policies to support the development of sports enterprises,among which the fiscal subsidy policy is the most widely used.Since the issuance and implementation of document No.46 four years ago,whether the development of sports enterprises in China has been improved after enjoying the government's financial subsidy policy,and whether the purpose of the government's financial subsidy policy for sports enterprises has been realized,in other words,how to improve the efficiency of financial subsidy for sports enterprises in China has become an urgent problem to be solved.Therefore,this paper takes the new three-board sports enterprise management panel data as an example,through studying the financial subsidy efficiency of the new three-board sports enterprise,and analyzing the impact of financial subsidy policy on the management performance of sports enterprises in China.This is conducive to finding out the direction of the current financial subsidy policy from a macro perspective,and has far-reaching significance for improving the management performance of sports enterprises.At the same time of theoretical research,this paper uses empirical analysis method to explore the impact of financial subsidy policy on the performance of sports enterprises.The main contents of the study are as follows: Firstly,after introducing the related concepts of the new third board sports enterprises,financial subsidies and operating performance,the necessity of the government's financial subsidies policy for sports enterprises is analyzed;secondly,the general situation of the financial subsidies policy for sports enterprises is simplyanalyzed;secondly,the factors to measure the operating performance of sports enterprises are obtained by factor analysis method.Scores and comprehensive scores;Finally,combined with relevant theories,the paper makes an empirical analysis of the implementation efficiency of the financial subsidy policy of sports enterprises in China and draws a conclusion.The research shows that the subsidy income directly constitutes the profit of sports enterprises,and on the surface promotes the improvement of the profit level of sports enterprises,but it does not have obvious stimulating effect on the improvement of the comprehensive management performance of enterprises.The financial subsidy policy implemented for sports enterprises in China has not achieved the desired effect.On this basis,this paper thoroughly analyzed the reasons,and finally put forward reasonable policy recommendations from the perspective of the government and enterprises.