Research On Influencing Factors Of The Growth Of Cultural Enterprises

With the rapid development of the world economy, part of people’s material needs is replaced by spiritual needs, so that the cultural industry is growing steadily in the favorable external environment. It is becoming an essential component and pillar industry of a nation’s economy. As a major industrial country, China’s cultural industry started later than the manufacturing sector. However, the central government has paid more attention on the policy support of the cultural industry in recent years. Under the benefit of all these policies, China’s cultural enterprises are full of vitality. Cultural enterprises have outstanding market performance, creating economic profit and social benefits. In order to obtain the limited resources, they are seeking all kinds of ways to expand, improving strength and competitiveness. But the real growth of the cultural enterprises has just began, and cultural enterprises are facing a series of issues, including serious homogeneity, lack of innovation and too little high-quality products. The problem of sustainable growth began to receive attention from all sides. What factors affect the growth of cultural enterprises and how to integrate resources scientifically and efficiently to promote growth of cultural enterprises have become the focus of research.Firstly, based on an overview of studies about the growth of enterprises and the characteristics of cultural enterprises, the paper analyzes the internal and external factors affecting the growth of the cultural enterprises in theory. Then, the artical selects revenue growth rate, main business profit growth rate, net profit growth rate, earnings per share growth rate, net flow per share growth rate, intangible assets growth rate, total asset growth, net asset per share growth rate to evaluate the growth of the sample enterprises. Via factor analysis, the paper calculates the scores of 90 cultural enterprises. By horizontal and vertical comparison, the paper finds that the current growth of China’s cultural enterprises is not ideal. Lack of sustainable growth, the growth of the cultural enterprises is unstable. We need to optimize the allocation of resources, implement targeted policies to improve the quality and speed of our cultural enterprises as soon as possible. In the following chapter, the research focuses on profitability capacity, firm size and solvency capacity, cultural innovation capacity, the degree of state ownership and ownership concentration, operating capacity, level of management and competitiveness of cultural products, testing the influence of these factors on the growth of the cultural enterprises empirically. According to the results of factor analysis and multiple linear regression, the paper finds that the degree of state ownership and ownership concentration is negatively related to the growth significantly, and the operating capacity, firm size and solvency capacity, cultural innovation capacity, and competitiveness of cultural products are positively related to the growth significantly. But the profitability capacity and the level of management are not significantly related to the growth. Finally, according to the research results, the paper puts forward some suggestions so as to promote the growth of the cultural enterprises.In the research process, the paper uses literature analysis, factor analysis and multiple linear regression, making certain achievements. But this article is still insufficient in index selection, research interval and so on. So follow-up studies can add more qualitative indicators and extend the study time, considering the latest achievements and China’s reality, to get more valuable conclusions.