A Study On Growth Issues In Hesse's Literary Work

In recent years,the media industry has gradually grown into one of the pillar industries of the national economy,highlighting its advantages different from other industries,such as low energy consumption,low pollution and high innovation,which has become a new economic growth point while providing social welfare.The government attaches great importance to the media listed companies,especially the government subsidies to them,both in terms of amount and penetration rate,have shown a position that can not be ignored.The externality effect of the media industry puts forward higher requirements for the effective support of the government.In view of this,this paper first analyzes the development status of the media industry,This paper analyzes and summarizes the government subsidies obtained by media listed companies,company performance,sub-industry development and market structure,On this basis,A-share media listed companies from 2016 to 2020 are selected as the research objects,Using information asymmetry theory,rent-seeking theory and signal transmission theory,this paper expounds the influence of government subsidy amount and government subsidy mode on the performance of media listed companies,and introduces the market structure of media industry as a regulating variable to further study the regulating role of market structure between government subsidy and the performance of media listed companies.The conclusions are as follows: First,the amount of government subsidies has a negative impact on the performance of media listed companies.Further research shows that from the perspective of the nature of corporate property rights,the negative impact of government subsidies on performance of state-owned companies is greater than that of non-state-owned companies;From the perspective of media sub-industries,government subsidies have a positive impact on the performance of listed companies in digital media industry,and have a negative impact on the performance of listed companies in other media sub-industries except TV broadcasting industry.Government subsidies have a stronger inhibitory effect on the performance of companies in game industry.Second,compared with the subsidy at loss,the subsidy at profit is more beneficial to the performance of media listed companies.Third,the market structure plays a positive and moderating role between the amount of government subsidies and the performance of media listed companies.With the promotion of market concentration in the media industry,the amount of government subsidies also has a certain role in improving the performance of media listed companies.Based on the above conclusions,this paper puts forward some suggestions: we should further standardize the government’s support behavior;Establish a long-term mechanism for government subsidy management;Optimize the market structure and properly enhance the market concentration of the media industry;Classify and establish government subsidy standards,so that government subsidy funds can play a positive role.