Research On Investment And Financing Efficiency Of Henan Cultural Industry

At present,China’s economy has shifted from a high-speed growth phase to a high-quality development phase.The cultural industry has become an important driving force for promoting the high-quality development of China’s economy.The high quality development of cultural industry can not be without the strong support of investment and financing.How to attract more resources into the cultural industry,explore the investment projects of the cultural industry enrich the financing methods of cultural industries,and make investment resources run more effectively has attracted the attention of many scholars.As a province with rich cultural resources,Henan Province has unique advantages in the cultural industry.In recent years,the Henan Provincial Government has vigorously supported the development of the cultural industry,continuously increased spending on cultural industries,and attracted many capital suppliers to invest in the cultural industry.However,whether the expansion of investment and financing scale is suitable for the high-quality development of cultural industries in Henan Province,and the efficiency of investment and financing is an issue that needs to be further studied.This paper takes the investment and financing efficiency of Henan cultural industry as the research object.Firstly,it combs the research results of scholars in the field of investment and financing of cultural industry at home and abroad,summarizes the related concepts and theoretical foundations of cultural industry,and analyzes the investment and financing problems of cultural industry in Henan Province.Secondly,the index system is constructed from two aspects of investment and financing.The traditional DEA model,super-efficiency DEA model and DEA-malmquist index method are used to compare and analyze the investment and financing efficiency of cultural industry in Henan Province and selected provinces and cities from both static and dynamic perspectives,according to the empirical results,the problems of investment and financing of cultural industry in Henan Province are analyzed.Finally,it puts forward countermeasures and suggestions to improve the investment and financing situation of cultural industry in Henan Province.Through research,this paper finds that Henan Province has abundant cultural resources,and the cultural industry has developed rapidly in recent years.However,there are still investment and financing problems such as the government’s relative spending on cultural industries is declining,the utilization rate of foreign capital is low,and direct financing channels are not smooth.In addition,the efficiency of investment and financing of cultural industries in Henan Province is not high from 2013 to 2017.Compared with pure technical efficiency,the investment and financing of cultural industry in Henan Province performs better in scale efficiency.The development of cultural industry mainly relies on policy support and scale expansion.From the perspective of changing trends,the dynamic efficiency of investment and financing of cultural industries in Henan Province is improving,and technical efficiency is the main driving factor for the improvement of overall efficiency.In recent years,the government has vigorously supported the development of cultural industry,which has led a large number of funds into the cultural industry,and the efficiency of investment and financing of cultural industry has been improved.However,the Henan provincial government should follow the law of economic development and allocate resources according to demand.At the same time,financial institutions must accelerate the innovation of financing models,and cultural enterprises should improve their management level.