| Driven by the development of the digital economy,due to the change and the use of digital technology,the exploration of business model with innovation capabilities and platform economy has become a new direction for the latest economic development.At present,people’s consumption pursuit has been upgraded from "material consumption" to"spiritual and cultural consumption",along with the continuous increase of their income,such upgrade has contributed to the thriving development of China’s cultural and creative enterprises.Meanwhile,the Central and all levels of local governments of China have actively promulgated various supporting and concessionary policies to enhance the quality and to boost the development of the cultural and creative industry.In addition,enthusiastic participation in investing the cultural and creative industry from the society,has formed the most powerful unity in such investment,enriched the diversity of cultural and creative products and services,and led to gradual acceleration of worth in cultural and relevant industry.The enterprises are therefore required to improve their financing abilities in order to match such rapid development trend,but the factors or variables that affect their financing abilities have changed and will need to be re-identified.Therefore,finding a way to strengthen the financing capacity for enterprises in the cultural and creative industry in the era of digital economy,has come to the concern of the academic and the relevant sectors.The object of research herein is the financing capacity of enterprises in the aspects of culture and creation in a digital economy-driven environment,and studies the financing capacity of such enterprises in digital economy by taking innovation capabilities and ecological platforms as independent variables,and value co-creation as an intermediary variable,and proposes innovative strategies and policy recommendations for improving corporate financing abilities.The main research areas include:First,how is the financing capacity of cultural creative enterprises being limited by its natures of being light assets high investment and high risk,and how shall it be evaluated;second,how to define their capability in innovation under the internet-driven-digital economy,so as to determine the constituent elements of their capability in innovation;third is the role that ecological platform plays as an external assistance in financing those enterprises;fourth,driven by the network-oriented environment,how co-creating value facilitates the process of creation of value;fifth,how the mechanism of innovation capabilities and ecological platforms works with abilities of financing in digital economy.Furthermore,this article constructs a theoretical model through grounded theoretical deduction,by combining grounded theory and empirical analysis,innovatively analyzes the internal mechanism of how are the financing abilities of cultural and creative enterprises being affected by their innovation capabilities and ecological platforms,and examines the mediating role of value co-creation through literature reference,comprehensive empirical analysis is used on such basis to test the theoretical model.Finally,a new innovation pattern constituted of perspective innovation,standpoint innovation,and method innovation is formed:(1)From the perspective of "digitalization+cultural creativity",focus on the capacity of financing with characteristics of "light assets";(2)systematically propose a theoretical model for cultural and creative enterprises to improve their financing abilities in a digital economy driven environment:(3)Through the combination of“quantification+qualitative",discuss the financial relief for the cultural and creative enterprises,using data as leading factor,and traffic monetization as the core axis of co-creating value.The results are as follows:First,the production innovation of enterprises has in general improved the financing abilities,but cultural and creative enterprises are still facing the problems of limited financing methods and serious financing constraints.Second,the establishment of the platform of cultural and creative enterprises has successfully promoted the diversification of financing methods,the reduction of financing constraints,and the increase of financing scale,however platform drive cannot directly promote the diversification of financing methods,and they may take effect indirectly through other variables.Third,value co-creation has partially and intermediately affected the relation between innovation ability and financing ability,and innovation ability can further positively affect financing ability through the intermediary mechanism of co-creating value.Fourth,co-creating value does not have global mediating effect in the relationship between ecological platforms and financing abilities.Resource management indirectly reduces financing constraints through the three-dimensional interpersonal interaction,information sharing,and word-of-mouth publicity of co-creating value.The conclusions are as below:First,new business form of“Internet+cultural industry"is the new index of development of cultural and creative industrialization structure transformation;second,financing ability is the essential for cultural and creative enterprises’development,and key to financing ability is the value co-creation mechanism;third,the improvement of cultural industry financing abilities should focus on forward-looking factors such as innovation capabilities and ecological platforms;fourth,financing abilities are not only the focus of cultural and creative enterprises’ future innovative development,management changes,market competition,etc.,but also their business strategy system,the foundation of value creation also of realization model.This article integrates the theories of the social network and value co-creation,which facilitates the future guidance of digital economy-driven enterprises in changing their business concepts in practice,strengthening interaction and information sharing with all parties and stakeholders in the network,and further creating value together,winning the market and improving financing abilities.On such basis,this article proposes countermeasures and suggestions basing on the theoretical logic of "innovation capability/ecological platform-value co-creation-financing ability".It is a beneficial supplement to the research on financing theory,and has important practical significance.It has provided certain references on promoting financial innovation and improvement of the financing capacity of those enterprises. |
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