文化企业上市融资绩效实证分析——以20家公司数据为分析对象

An Empirical Analysis of Financing Performance of Cultural Enterprises——Based on the Datum of 20 Companys for the Analysis of the Object

近年来,我国文化产业得到快速发展。2016年我国文化产业增加值达30 254亿元,占GDP的4.07%,2005-2016年的文化产业增加值年均增长达19.50%,文化产业进入跨越式发展的新阶段。但相比当今发达国家文化产业,我国文化产业的发展显得尤为迫切。目前,我国文化产业的发展面临"融资"瓶颈,文化企业的持续发展需要金融的支持,本文主要通过研究上市融资对文化企业的绩效影响,具体分析文化企业上市融资前后的财务绩效。首先,通过对截至2017年4月A股共统计出的85个上市文化企业按照《文化及相关企业分类(2012)》的分类标准进行分类并按照上市融资的规模与上市时间,选取出前20的文化产业上市公司;其次,利用规模总量、盈利能力、偿债能力、每股指标、现金流量等财务指标对上市的融资绩效进行数据分析;最后,总结分析上市融资对文化企业的综合影响,从而为文化企业融资提供借鉴。

In recent years, China’s cultural industry has a rapid development. In 2016, the added value of China’s cultural industry reached 3,025.4 billion yuan, accounting for 4.4% of GDP. The average annual growth rate of cultural industry from 1995 to 2016 was 19.50%, and the cultural industry entered a new stage of leap-forward development. But compared to today’s developed countries, China’s cultural industry development is even more urgent. At present, the development of China’s cultural industry is facing the bottleneck of "financin". The sustainable development of cultural enterprises needs financial support. The article mainly studies the financial performance of cultural enterprises before and after the financing of listed companies.First of all, as of April 2017, a total of 85 listed cultural enterprises in accordance with the "Classification of cultural and related business classification(2012)" and with the scale of listing and listing time, select the top 20 cultural industries listed The paper analyzes the financing performance of listed companies by using the financial indicators such as the total scale,profitability, solvency, index of each share and cashflow. Finally, the paper summarizes the comprehensive impact of the financing on the cultural enterprises, to provide reference for the financing of cultural enterprises.