文化创意企业投融资内生决策的效率评价研究

发布时间：2018-04-01 00:09

本文选题：文化创意企业　切入点：投融资　出处：《天津工业大学》2017年硕士论文

【摘要】：文化创意企业主要依赖个人才智的发挥以及团队的研发设计,以虚拟的创意思维及技术产品进行销售并以此获得高额收益。文化创意企业存在高风险、高收益、前期投入时间较长等特点,因此管理者做出的投融资决策,将直接决定企业的兴衰成败以及未来的发展前景。企业的投融资决策需要外部宏观环境和企业内部本身的共同努力。虽然外部宏观因素对文化创意企业投融资决策有重要的导向作用,但是由于宏观因素的不可控性,企业自身无法对外部因素进行改变,必须从企业内生决策入手,从这个角度来讲,对文化创意企业投融资内生决策进行研究,有助于从企业自身寻找解决途径,从根本上解决文化创意企业发展问题。对于以中小型为主的文化创意企业如何在资源相对紧张的情况下,利用有限、的资金实现最大的收益,是摆在文化创意企业面前的重大难题,也是企业想要实现新的经济增长点的关键环节。目前国内外专家学者对于文化创意企业投融资效率的研究比较少,未能形成一套完整的评价体系。本文在阅读大量已有文献的基础上,对文化创意企业及其投融资效率的文献进行了梳理,理清了研究的脉络,对相关概念进行界定。之后借鉴组织结构理论内生性原理,基于内生性内涵特征,从企业内因入手探索了影响文化创意企业投融资决策的因素,再利用平衡计分卡从财务、学习成长、利益相关者、无形资产及研发创新等五个维度构建了文化创意企业投融资内生决策的评价模型,进行了评价研究,研究表明我国文化创意企业目前整体水平良好,各个维度分数保持在正常水平。之后再利用数据包络分析方法对111家文化创意上市公司的投融资内生决策的效率进行评价,得出我国文化创意企业投融资内生决策效率整体偏低,但总体呈现不断发展壮大的结论。通过对模型松弛变量的分析,挖掘文化创意企业投融资内生决策效率低的原因,为制定有效的应对措施提供指导,并验证之前评价结果的有效性及合理性。最后,对于本文研究存在的不足进行总结,提出研究方法的改进意见,同时对于如何提高文化创意企业投融资内生决策的效率提出了建议,为企业管理者提供更为详细、精准的参考依据。
[Abstract]:Cultural and creative enterprises mainly rely on personal intelligence and team R & D design, to virtual creative thinking and technology products to sell and earn high profits.Cultural and creative enterprises have the characteristics of high risk, high income and long investment time. Therefore, the investment and financing decisions made by managers will directly determine the success or failure of the enterprise and the future development prospects.The decision of investment and financing needs the joint efforts of the external macro environment and the enterprise itself.Although the external macro factors play an important guiding role in the investment and financing decisions of cultural and creative enterprises, because of the uncontrollable macro factors, the enterprises themselves cannot change the external factors.From this point of view, the study on the endogenous decision of investment and financing of cultural and creative enterprises is helpful to seek solutions from the enterprises themselves and fundamentally solve the problems of the development of cultural and creative enterprises.For the small and medium-sized cultural creative enterprises, how to use the limited funds to achieve the maximum benefits in the case of relatively tight resources is a major problem facing the cultural and creative enterprises.Also is the enterprise wants to realize the new economic growth point key link.At present, experts and scholars at home and abroad have less research on the investment and financing efficiency of cultural and creative enterprises, and fail to form a complete evaluation system.On the basis of reading a large number of existing documents, this paper combs the literature of cultural and creative enterprises and their investment and financing efficiency, clarifies the context of the research, and defines the relevant concepts.Then using the endogenous principle of organizational structure theory for reference, based on the characteristics of endogenous connotation, this paper explores the factors that affect the investment and financing decisions of cultural and creative enterprises, and then uses the balanced Scorecard to study and grow from the financial, learning, stakeholders.Intangible assets and R & D innovation are five dimensions of the cultural and creative enterprises investment and financing evaluation model of endogenous decision-making, evaluation research, the study shows that the overall level of cultural and creative enterprises in China is good.The scores of each dimension remain at normal levels.Then using the method of data envelopment analysis to evaluate the efficiency of investment and financing endogenetic decision of 111 cultural and creative listed companies, it is concluded that the efficiency of investment and financing endogenetic decision-making of cultural and creative enterprises in our country is on the low side as a whole.But overall presents the conclusion that develops unceasingly.Through the analysis of model relaxation variables, this paper explores the reasons for the low efficiency of investment and financing endogenetic decision-making of cultural and creative enterprises, provides guidance for the formulation of effective countermeasures, and verifies the validity and rationality of the evaluation results before.Finally, this paper summarizes the shortcomings of this study, puts forward some suggestions on how to improve the efficiency of investment and financing decisions of cultural and creative enterprises, and provides more details for enterprise managers.Accurate reference basis.
【学位授予单位】：天津工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.4;F275;G124

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