获得政府扶持贷款提高中小微文化企业业绩了吗?——基于1055家南京市中小微文化企业数据的PSM实证研究

Did Government Assistance Loans Promote the SMEs' Performance:Based on PSM Estimation of Micro-data from 1055Cultural SMEs in Nanjing

融资难问题是制约中小微文化企业发展的重大难题。为解决融资难问题,政府出台一系列政策扶持中小微文化企业发展,但政策效果如何尚未可知。本文以2016年南京市获得政府扶持文化信用贷款的1055家中小微文化企业微观数据为基础,将文化企业分为文化科技型、文化创意设计服务型和文化艺术服务型三类,运用倾向匹配得分法(PSM)分析政府扶持贷款对企业业绩提升效果,及其在不同行业间的差异化影响。研究结果表明:总体而言,政府扶持贷款解决企业融资难问题,提升了企业业绩;分行业看,政府扶持贷款对文化艺术服务类企业业绩提升效果不明显,对文化科技类企业业绩提升效果显著高于其对文化创意设计服务类企业业绩提升效果。最后本文提出解决中小微企业融资难,提升企业业绩的相关政策建议。

SMEs’difficulties in financing have always been a significant problem restricting their development,especially for cultural SMEs.In order to solve the problem,relative government departments issue a series of policies,but it was unknown whether these policies is effective or not.Based on the government assistance loan data coming from 1055 cultural SMEs in Nanjing in 2016,this paper divides the cultural enterprises into three types,they are cultural technology enterprises,cultural creativity and design enterprises and cultural artistic enterprises.The paper uses PSM method to analyze the promotion effect on corporate performance of government assistance loans and compare the differences of promotion effect among three different types of cultural SMEs.According to the result,in general government assistance loans solve the enterprise financing difficult problem and improve the corporate performance.From the perspective of the classification of enterprises,promotion effect on cultural artistic enterprises is not obvious,and it significantly increases performance of cultural technology enterprises than that of cultural creativity and design enterprise.Finally it provides relevant policy making suggestions for solving the financing problem and improve the corporate performance of cultural SMEs.