Research On Performance Evaluation And Influencing Factors Of Listed Game Companies

As a frontier field of the cultural industry,the game industry has become an important part of the cultural industry after more than ten years of development.It has continuously produced huge commercial value and greatly enriched the cultural life of the people.However,although the game industry has made great progress in the past ten years,the theoretical research on game companies has not received enough attention,especially the lack of research on corporate performance,which largely limits the development of game companies.In view of the above background,this article uses A-share listed game companies as a research sample,and uses the DEA-BCC model to evaluate and statically analyze the performance level of game companies from 2010 to 2019.DEA-Malmquist index dynamically analyzes the total factor productivity of game companies.This article uses the Tobit model to study the factors that affect company performance.This article found that due to changes in the game market structure,overall,the performance level of game companies has shown a downward trend in the past ten years.The average performance is 0.707,and there is a large room for improvement.The difference in efficiency values of enterprises in different regions is small,indicating that regional factors have a limited effect on corporate performance.From an individual perspective,lower management and technical levels are the main reasons that restrict corporate performance.the total factor productivity of game companies has improved to a certain extent,but the total factor productivity of different companies is quite different.Research on influencing factors found that the game version number policy in 2019 has had a relatively large negative impact on corporate performance,which is one of the main reasons for the overall decline in game corporate performance.Asset turnover rate and operating profit rate are positively correlated with corporate performance.The increase in cash ratio has a positive effect on corporate performance,but the effect is relatively small.There is a negative correlation between corporate size and corporate performance.In addition,the debt-to-asset ratio and corporate performance is positive correlation,intangible asset ratio is negatively correlated with corporate performance,but they are not significant.The above conclusion is still valid under the robustness test.Based on the above research,this article puts forward the following suggestions for game companies: streamline the scale of game companies and improve resource utilization efficiency.Appropriately increase the debt ratio to ensure the smooth operation of R&D.Enhance corporate management capabilities and improve resource integration efficiency.Establish a sound talent training system to improve R&D capabilities.Change corporate development models to adapt to the new normal of the game market.