首都文化创意产业境外上市公司的资本结构研究

Study on Capital Structure of the Overseas Listed Companies in Beijing Cultural Creative Industry

近年来文化创意产业对我国GDP产值的贡献日益显著,然而由于产业内无形资产较难评估,文化创意企业在发展初期就很难从国内市场融资,这在一定程度上促使我国文化创意企业纷纷进军海外市场,目前已有数十家文化创意企业在境外资本市场成功上市。不过较多文化创意企业在赴美上市后,尤其是小盘股公司,在上市后多受到市场冷遇,资产流动性变差,后续融资变得越来越困难。将基于北京市文化创意产业境外上市公司的研究数据,来分析产业内境外上市融资公司的资本结构的特点及存在的问题,进而提出相应的政策建议。

Over the recent years, the cultural creative industry has been playing an increasingly important role in our country＇s GDP. However, at the early stage of development, with the limit of difficult assessment for intangible assets, cultural creative companies couldn＇t find a good way to finance in domestic market, which to some extents contributes that they marched into the overseas market for financing. Then many of them went for IPOs successfully. But after that, several small-cap stock companies came across a chilly reception in the marketplace, a slow reaction of liquidity of assets and then difficulty in fi- nancing. In this paper, based on the analysis of overseas listed companies of Beijing cultural creative industry, it will research further on the capital structure＇s current situation and characteristics, and analyze the reasons and necessity of overseas financing, and propose relative suggestions.