Research On Calculation And Influencing Factors Of China's Media Industry Capacity Utilization

In recent years,the overall development of China's media industry has maintained a relatively high growth rate,but the growth rate of many media industries has declined,and some industries have suffered losses,which means that the structure of the media industry needs to be adjusted in a timely manner.In addition,under the background of the Chinese economy entering the new normal,the structural adjustment of the Chinese media industry has already been put on the agenda.From the high-quality development of the media industry and the long-term operation of the Chinese economy,it is of practical significance to judge the capacity utilization of the media industry.From the empirical point of view,this paper takes the capacity utilization rate of China's media industry as research object,and selects panel data from 20 small categories of China's media industry from 2012 to 2016 to measure the capacity utilization rate of the media industry with the CES production function model.Besides,this paper analyzes the influential factors of the capacity utilization rate of China's media industry with Tobit model.The result shows that China's media industry has seriously insufficient capacity problem.There is a small difference in different industries about insufficient capacity in the Chinese media industry.The insufficient capacity is a common phenomenon of entire media industry,and the insufficient capacity from 2012 to 2016 shows persistence.Most of the small categories' capacity utilization rates are in severe fluctuation,which means the production was unstable.Although the capacity utilization rate of the media industry is declining,this decline is not obvious,which means the situation of insufficient capacity has not been improved.Distortion of capital factors,industry profitability and enterprise size are main reasons leading to high utilization rate and insufficient capacity of the China's media industry.The government intervention has a negative influence on the capacity utilization rate of the China's media industry.Unlike the result that the distortion of capital factors leads to overcapacity in traditional industries,the distortion of capital factors in media industries has a positive impact on capacity utilization,which may be related to the characteristics of oligopoly,high barriers to entry,and late start of media industry.Therefore,the governance of the media industry should take measures to increase capital investment,encourage innovation and sort out some backward production capacity.At the same time,It should improve the factor market to alleviate factor price distortion,strengthen government control to the media industry,and combat industry chaos to create a healthy industrial environment,thereby alleviating the contradiction between the insufficient effective supply and excessive ineffective supply of media industry.