Research On The Path To Promote The Value Of Chinese Cultural Enterprises From The Perspective Of Asset Structure Optimization

As a sunrise industry at this stage,cultural industry has great development potential,which has attracted wide attention from all countries.Developed countries regard cultural industry as an important factor affecting national competitiveness.For China,cultural industry has increasingly become one of the important growth points to help national economic development.However,compared with developed countries such as the United States,Japan and South Korea,the development level of China’s cultural industry is relatively backward,its international competitiveness is not strong,and its brand influence needs to be improved.In the stage of high-quality economic development,cultural enterprises should attach great importance to how to optimize the asset structure,improve asset operation efficiency and promote enterprise value.Therefore,this paper chooses listed cultural enterprises as the research object,focusing on the theme of how asset structure affects enterprise value,aiming at exploring the path and method of promoting the value of cultural enterprises from the perspective of asset structure,and providing theoretical basis and guidance for the long-term development of cultural enterprises and cultural industries.This paper first introduces the research background,significance,research contents and methods,then systematically sorts out and summarizes the domestic and foreign literatures related to the asset structure and enterprise value of cultural enterprises,then defines the basic concepts,introduces relevant theories and influence mechanisms,and then summarizes the development characteristics of cultural industries based on the analysis of the development status of cultural industries.Then,based on the annual financial data of 144 cultural listed companies in China from 2010 to 2021,the panel regression model is used to empirically explore the influence of the asset structure of cultural enterprises on enterprise value.Then,Huayi Brothers and Ciwen Media are taken as the research objects,and the brand credit of case enterprises is measured by using TBCI model,based on which the brand premium rate is calculated and the elasticity analysis is carried out,and the important influence of brands on enterprise value is expounded from the perspective of brand economics.The research conclusions of this paper are as follows:For cultural enterprises,the proportion of monetary funds,inventory,accounts receivable,fixed assets and intangible assets in the asset structure will have an impact on enterprise value,which is manifested in the negative impact of monetary funds,inventory,accounts receivable and fixed assets,and the proportion of intangible assets has a positive impact on enterprise value,and intangible assets have the strongest impact on enterprise value;For cultural enterprises in different listed sectors and different sub-sectors,the impact of asset structure on enterprise value is heterogeneous to some extent,but overall,the basic conclusions are consistent,only the proportion of intangible assets has a significant positive impact on enterprise value;The case analysis of Huayi Brothers and Ciwen Media shows that brands do have an impact on enterprise value,and the higher the brand credit,the higher the corresponding enterprise value.Based on the research conclusion of this paper,in order to realize the sound and rapid development of the cultural industry,this paper provides some suggestions.The suggestions based on the industry perspective are:Reducing the proportion of monetary funds and rationally allocating funds;Reduce the inventory scale and strengthen the daily management of inventory;Reduce the proportion of accounts receivable and enhance the ability of accounts receivable management;Reduce the scale of fixed assets and pay attention to the quality of fixed assets;Increase investment in intangible assets and make proper use of intangible assets.Based on the enterprise perspective,the following suggestions are put forward to strengthen brand building:Accurately positioning target customers and strengthening single interests;Pay attention to the post of brand building and set up brand managers;Focus on the persistence of a single interest and improve the terminal construction;Improve the public credibility of brand dissemination and attach importance to quality information.