An Empirical Research On The Influence Of Government Support On The Performance Of Shanghai Cultural Industry

Based on the theory of government support and cultural industry development,this paper explores the direct and indirect impact of government support on the development performance of cultural industries by analyzing he interactive relationship between China's cultural industry and government support policy,and.In view of the existing problems,it is proposed to put forward the goal of improving the cultural industry support policy to promote the improvement of China's cultural industry performance.In this paper,we discuss the topic in four levels.First,we sort out the current situation of China's cultural development and summarize the government support policies and the main problems of the cultural industry in recent years.On this basis,a theoretical framework will be established to provide a theoretical basis for the government to support the development of cultural industries.Then,we illustrate the direct and indirect effects plus its influence mechanism of government support on the development performance of cultural enterprises and construct the hypothesis.Thirdly,we investigate the direct and indirect impact of government special support funds on the performance of cultural enterprises after comparing the quantitative evaluation results of the total factor productivity of the cultural industry using the OLS method,the fixed effect method and the OP method using the cultural industry database established by the Shanghai Municipal Science and Technology Center for Knowledge Competitiveness and Regional Development.Furthermore,we discuss the synergistic effect between various financing channels by analyzing the interaction between government special support funds,internal financing and debt financing including bank loans,private lending and corporate bonds.Simultaneously,we carried out the heterogeneity research on different cultural industry types and tested robustness of the overall research results.Finally,we proposed a series of policy recommendations for government support methods innovation and improvement of industrial support policies on the foundation of the empirical research results combined with the status quo and development trends of China's cultural industry.