Research On The Innovation And Business Efficiency Of Chinese Cultural Industry And Its Influencing Factors Based On Stochastic Frontier Method

Culture is regarded as the soul of a country and a nation.A thriving culture gives birth to prosperity for the country,and a rich culture leads to a strong nation.The cultural industry is identified as the strategic pillar industry in China,and technical efficiency and cultural innovation are the guarantee to promote the prosperity of the cultural industry.Relevant statistics show that in 2019,the operating revenue of cultural and related industry enterprises above designated size in China reached 8,662.4 billion RMB,increasing 7.0%over the previous year.The percentage of the added value of the cultural industry in GDP has climbed year by year,from 2.15%in 2004 to 4.30%in 2018.At the same time,the contribution of cultural industry to economic growth has been increasing.In 2004,the average annual contribution rate of cultural industry to GDP growth was 3.9%,and in 2018,the contribution rate increased to 5.5%.Although the volume of cultural industry is constantly increasing,the excessive number of cultural industry enterprises in China,the unreasonable system of cultural institutions,and other problems also hinder the development of the cultural industry.In this paper,Stochastic Frontier Analysis(SFA)evaluated the business efficiency and innovation efficiency of listed companies in China’s cultural industry from 2009 to 2019,and the influencing factors of their inefficiency were analyzed simultaneously.In order to set up a more reasonable production function model,this paper adopts the Cobdouglas production function model and transcendental logarithmic production function model,respectively,to describe the input-output situation of listed companies in the cultural industry.After comparison,the transcendental logarithmic stochastic frontier model with a more accurate description is selected.In addition,based on the original literature,this paper further elaborates the internal influencing factors of enterprises.It discusses the influencing factors of efficiency from three perspectives:operation characteristics," "manager characteristics," and "environment characteristics." Moreover,made a detailed analysis of regional business efficiency,the research is more comprehensive than previous researchAccording to the preliminary research results of the State Forestry Administration,the business efficiency of China’s cultural industry is generally higher than the innovation efficiency;The differences of the innovation efficiency of different listed companies and the data fault are higher than business efficiency.To be specific,first,in terms of business efficiency,the input of operating capital and labor force positively affects the income of cultural industry listed companies.However,the input of the labor force can promote the income increase more than the input of capital.Second,for innovation efficiency,the improvement of R&D capital is conducive to the improvement of innovation output,and the marginal growth of R&D capital is positive;The innovation labor input positively affects the innovation output at the initial stage,but this effect is decreasing.Third,in terms of influencing factors,company size and visibility positively correlate with business efficiency and innovation efficiency.It is worth noting that there is a big difference between innovation efficiency and business efficiency in the characteristics of managers.However,when the actual controller concurrently serves as the chairman or general manager,it is beneficial to improve the irnovation efficiency of the listed company.In addition,the higher the degree of board members,the more conducive to the management of business activities of the enterprise,the higher the business efficiency of the enterprise,but its impact on innovation efficiency is significantly negative.