本文選題：文化企業(yè) + 融資結(jié)構(gòu)��； 參考：《貴州財(cái)經(jīng)大學(xué)》2013年碩士論文

【摘要】：文化產(chǎn)業(yè)的發(fā)展程度是衡量一個(gè)國家軟實(shí)力的重要指標(biāo)之一,而金融機(jī)構(gòu)對(duì)文化產(chǎn)業(yè)的支持是其得以迅速發(fā)展的保證。由于文化產(chǎn)業(yè)大都發(fā)展時(shí)間不長,規(guī)模較小,且無形資產(chǎn)在總資產(chǎn)中所占比重較大,信用等級(jí)不明確,因此文化類企業(yè)的融資難問題一直亟待解決。本文的整體思路是在企業(yè)融資理論的框架中重點(diǎn)對(duì)債務(wù)融資問題展開研究。但是自1958年MM理論創(chuàng)建以來對(duì)企業(yè)融資結(jié)構(gòu)問題的研究主要都集中在債權(quán)和股權(quán)的比例方面,相較而言,對(duì)企業(yè)的債務(wù)融資類型結(jié)構(gòu)影響因素的研究較少涉及,本文選題就是根據(jù)企業(yè)融資結(jié)構(gòu)理論和中國文化企業(yè)債務(wù)融資現(xiàn)狀提出來的,本文從文化企業(yè)的融資現(xiàn)狀出發(fā),在微觀層面對(duì)債務(wù)融資的理論進(jìn)行分析,利用圖表數(shù)據(jù)分析和實(shí)證研究的方法,力求能對(duì)我國文化產(chǎn)業(yè)融資的影響因素進(jìn)行系統(tǒng)性的研究。 本文在企業(yè)融資結(jié)構(gòu)理論的系統(tǒng)內(nèi)集中力量對(duì)文化企業(yè)的債務(wù)融資問題進(jìn)行研究。首先,對(duì)已有的研究文獻(xiàn)進(jìn)行梳理,探尋債務(wù)融資研究的理論基礎(chǔ),綜合國內(nèi)外研究成果,以微觀金融理論為前提,形成本文的理論框架。其次,本文將對(duì)文化產(chǎn)業(yè)進(jìn)行介紹,包括文化產(chǎn)業(yè)的界定與分類,國內(nèi)外文化產(chǎn)業(yè)發(fā)展?fàn)顩r的比較,中國文化產(chǎn)業(yè)的現(xiàn)狀。再次從多種角度分析債務(wù)融資結(jié)構(gòu)的影響因素,并根據(jù)前人研究做出假設(shè),構(gòu)建模型。并利于上市文化企業(yè)的年報(bào)數(shù)據(jù)進(jìn)行實(shí)證檢驗(yàn),得出結(jié)論分析債務(wù)融資決策的影響效應(yīng),以期能夠?yàn)槲幕髽I(yè)債務(wù)融資進(jìn)行債務(wù)融資方式的選擇提供經(jīng)驗(yàn)數(shù)據(jù)。 筆者認(rèn)為本文在以下幾方面做了一些有意義的工作,并努力創(chuàng)新形成一定的經(jīng)驗(yàn)和結(jié)論。1)本文對(duì)文化產(chǎn)業(yè)的現(xiàn)狀進(jìn)行了系統(tǒng)性的歸納,并與國外的文化企業(yè)進(jìn)行了對(duì)比,以期能夠展現(xiàn)我國文化產(chǎn)業(yè)的最直觀畫面。2)本文系統(tǒng)性地研究了企業(yè)的債務(wù)融資結(jié)構(gòu)選擇,既有前人研究的成果,又提出了自己的見解,從不同的角度分析影響債務(wù)融資結(jié)構(gòu)的因素,利用微觀經(jīng)濟(jì)學(xué)的理論構(gòu)建模型,研究債務(wù)融資的影響因素。3)在實(shí)證分析債務(wù)融資影響因素之后得出結(jié)論：文化類企業(yè)的負(fù)債水平與企業(yè)的成長性負(fù)相關(guān)。4)本文結(jié)合中國文化產(chǎn)業(yè)的融資方式現(xiàn)狀分析,提出優(yōu)化企業(yè)融資的對(duì)策。
[Abstract]:The development degree of cultural industry is one of the important indicators to measure a country's soft power, and the support of financial institutions to cultural industry is the guarantee of its rapid development. Due to the short development time and small scale of the cultural industry, the intangible assets account for a large proportion of the total assets, and the credit rating is not clear, so the financing problem of cultural enterprises has been urgently needed to be solved. The overall idea of this paper is to focus on debt financing in the framework of corporate financing theory. However, since the establishment of MM theory in 1958, the research on corporate financing structure has mainly focused on the proportion of creditor's rights and equity. Based on the theory of corporate financing structure and the current situation of debt financing of Chinese cultural enterprises, this paper analyzes the theory of debt financing at the micro level, starting from the current financing situation of cultural enterprises. By using the method of chart data analysis and empirical research, this paper tries to make a systematic study on the influencing factors of cultural industry financing in China. This paper focuses on the study of debt financing of cultural enterprises in the system of corporate financing structure theory. First of all, the existing research literature is combed, the theoretical basis of debt financing research is explored, and the theoretical framework of this paper is formed by synthesizing the domestic and foreign research results and taking the micro-finance theory as the premise. Secondly, this paper will introduce the cultural industry, including the definition and classification of cultural industry, the comparison of the development of cultural industry at home and abroad, and the current situation of Chinese cultural industry. Thirdly, the influence factors of debt financing structure are analyzed from various angles, and the model is constructed according to the assumptions made by previous studies. It is helpful for the empirical test of the annual report data of listed cultural enterprises and the conclusion that the influence of debt financing decision can be analyzed in order to provide empirical data for the choice of debt financing methods for cultural enterprises. The author thinks that this paper has done some meaningful work in the following aspects, and has made great efforts to form certain experience and conclusion. 1) this article has carried on the systematic induction to the cultural industry present situation, and has carried on the comparison with the foreign cultural enterprise. In order to show the most intuitive picture of cultural industry in China. (2) this paper systematically studies the choice of debt financing structure of enterprises, not only the achievements of previous studies, but also put forward their own views. The factors influencing debt financing structure are analyzed from different angles, and the model is constructed by using the theory of microeconomics. After the empirical analysis of the influencing factors of debt financing, we draw the conclusion: the debt level of cultural enterprises is negatively correlated with the growth of enterprises. 4) this paper analyzes the current situation of financing methods of Chinese cultural industries. The countermeasures of optimizing enterprise financing are put forward.
【學(xué)位授予單位】：貴州財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.4;G124

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