北京市小型文化创意产业的信贷摸式探讨

随着我国文化创意产业的发展,金融机构必然要推出相应的信贷产品。银行业首先注重对大中型文化创意产业提供信贷,使得小型文化创业产业很少获得信贷支援。本文在分析小型文化创意产业的风险特征及北京市文化产业优势的基础上,探讨适宜北京市小型文化创意产业的信贷模式。     

为“创意”担保

<正>文创企业及产品的特殊性决定了大多数企业融资一直处于"老大难"的问题,尤其是中小微型文化企业。专业性文化融资担保机构的出现似乎缓解了这一融资难题。文化创意产业在北京已成为第三产业中仅次于金融业的第二大支柱性产业。将"创意"转化为"文化产品",需要借助大量资金的支撑,文化企业自身的"轻资产"特性以及企业商业模式不清晰、持续盈利能力不足、产权结构与融资规模不匹配,都是阻碍其无法获得融资的重要原因。目前,中国的中小微文化企业的数量已占到总数的     

福建文化创意产业融资问题研究

文化创意产业对于产业结构优化升级,促进经济发展具有重要的意义。福建文化创意产业发展还处于起步阶段,由于缺乏有效的融资支持,进一步发展受到了制约。本论文分析了福建中小型文化创意企业融资难的原因,提出了搭建建文化企业融资服务平台、创新信贷产品、建立多元化融资渠道等政策建议。     

文化企业价值计量研究

进入21世纪以来,文化企业独树一帜令世人瞩目,“十二五”时期我国将大力发展文化企业为国民经济支柱性产业。由于文化创意产品的不确定性使得传统的价值计量方法无法评估文化创意产品的未来发展潜力,导致文化企业投资困乏。本文在阐述我国文化企业资产价值计量现状的基础上,分析了文化企业资产价值计量难的深层次原因,进而客观、全面的提出了文化企业计量问题的解决路径。     

文化创意产业发展模式研究——以“成都东村”为例

文化创意产业的发展对我国经济发展方式的转变起着战略性的作用,本文从文化创意产业的概念界定及国内外的发展现状出发,以“成都东区”为例对成都文化创意产业固区发展模式进行了分析,为其它地区的创意产业发展提供思路。     

破冰文化创意产业融资

如今,文化创意产业在我国尤其是北京市已是炙手可热,政府大力倡导鼓励文化创意产业发展,从政策上积极扶持和培育;众多投资商和企业家看好文化创意产业的无限前景,踊跃投身其中经营发展,期冀实现财富梦想。在这样的发展环境中,文化创     

基于大学生文化需求视角的北京市文化创意产业发展实证研究

文化创意产业的发展不仅可以促进人的全面发展,而且有利于树立社会主义核心价值观,抵制文化侵略,维护国家的文化安全。有鉴于大学生是文化创意产业的最大消费群体,本项目组从大学生消费需求的视角出发,通过问卷、访谈等方法对北京市文化创意产业的发展进行调研,找出其主要问题,并提出有现实意义的制度设计和政策建议。     

金融与文化携手 创新与规范同行——中国工商银行北京分行助力文化创意产业发展纪实

随着文化体制改革的不断深化、文化生产力被激活,文化创意产业在我国进入了快速成长期。然而,资金往往是制约文化创意产业发展的一大瓶颈,鼓励金融业为文化创意产业输血、扩大文化创意产业的比重,是推动我国产业结构升级、缓解资源能源瓶颈的重要举措。金融与文化的结合,不仅能有力推动文化创意产业的跨越式发展,也将引领金融企业驶向一片蓝海。自2008年起,中国工商银行北京分行为支持北京市文化创意产业发展,积极探索和完善专业化服务机制,改进管理模式,加大产品创新,取得了比较明显的发展效果。在这个过程中,北京分行怎样面对文化创意产业目前市场发展不完善、风险高的问题?银行如何才能与文化创意产业顺利对接?带着这些问题,本刊记者对北京分行王珍军行长进行了专访,梳理回顾了北京分行为助力文化创意产业发展付出的努力与取得的成绩,并具体介绍了具有代表性的创新性金融产品,以飨读者。     

文化创意产业融资的困局与路径分析

近年来文化创意产业在我国取得了喜人发展,迅速成长并已初具规模。但是资金短缺始终还是影响文化创意产业发展的主要问题。本文阐述了文化创意产业发展及融资难的现状,从宏观和微观两个角度分析了融资难问题的形成根源,最后针对问题提出了建立“政府引导、企业主体、金融支撑”的多元化投融资体系的解决路径,以不断提升整个文化创意产业的竞争力,确立其在经济发展中的核心主导地位。     

中国文化创意产业与相关产业融合态势研究——以中国动漫产业为例

近年来,随着我国经济发展规模的不断壮大,既能满足经济发展,又能满足消费者情感消费的文化创意和设计服务贯穿了当今社会的各行业领域。总体而言,文化创意产业与其他相关产业呈现出多向交互融合态势。2014年3月,国务院发布了10号文件,就推进文化创意和设计服务与相关产业融合发展提出了若干意见。以"创意"为核心,与多媒体和高科技相结合的动漫产业则成为建设中国文化创意产业的热点之一。本文以中国动漫产业为例,通过分析我国动漫产业的现状及发展态势,并结合国务院发布的10号文件,对打造多层次多方面全方位的文化市场提出建议。     

Debt and Taxes and Uncertainty

With a graduated personal tax schedule, Miller showed that there could be an equilibrium debt supply for the corporate sector as a whole. In the presence of uncertainty there is also a unique debt/equity ratio for each individual firm, and this ratio is related to the firm's operational risk characteristics. However, if firms merge and spin off in response to tax incentives, the identity of firms is ambiguous and only the corporate sector is a meaningful construct. These arguments are developed in both discrete and continuous models that employ extensions of the arbitrage-free pricing theory.     

教育与资本怎样的前景怎样的现实

来自政府的声音: "动员各种社会资源,发展教育" 此次论坛上财政部长助理张少春的发言是最受关注的发言之一.他的演讲传达出的信息有这样几方面:第一,谈到现实,他认为全社会对教育的巨大需求与我国公共投入不足已成为我国教育事业发展的突出矛盾.近年来,以公共部门投入为主,多渠道筹措教育经费的教育投入机制成为解决这一问题的重要途径,也使得公共部门与私营部门在教育领域的合作日益密切.第二,谈到前景,他认为,1.中国经济持续、快速的增长对高技能人才产生巨大的需求,这为私营部门的参与提供了广阔空间.2.随着公共财政职能的不断完善,财政资金将在各项教育事业中重新进行分配,进一步优化财政支出结构,提高资金的使用效率.在"十一五"期间,我国将把公共支出的重点转移到农村.我们将逐步把全体农村适龄儿童的义务教育全部纳入公共财政体制.     

East and west and north and south : A preliminary model

The Brandt report and other proposals for a new North-South world order continue to be the focus of lively debate, yet it is often argued that little concrete has emerged from their recommendations. A major reason for this, the author argues, is that the East-West conflict component is not sufficiently taken into consideration-East-West tensions are a severe constraint on and a determining factor of North-South relations. Using influence diagrams, the author develops a flexible framework for discussion and assessment of N/S-E/W relations.     

Director gender and mergers and acquisitions

Does director gender influence CEO empire building? Does it affect the bid premium paid for target firms? Less overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make acquisitions and if they do, pay lower bid premia. Using acquisition bids by S&P 1500 companies during 1997–2009 we find that each additional female director is associated with 7.6% fewer bids, and each additional female director on a bidder board reduces the bid premium paid by 15.4%. Our findings support the notion that female directors help create shareholder value through their influence on acquisition decisions. We also discuss other possible interpretations of our findings.     

Political corruption and mergers and acquisitions

This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring firms to use excess cash for payment, which mitigates the negative effect of corruption on acquirer shareholder value. The evidence indicates that acquisitions help acquiring firms convert cash into hard-to-extract assets and relocate assets from the high to low corruption areas, thereby shielding their liquid assets from expropriation by local officials.     

Trust and cross-border mergers and acquisitions

A number of studies suggest that social trust matters for investment. Using different measures of trust from World Values Survey, we show that countries where people display higher levels of trust engage in more cross-border M&A activities. When they do, these acquirers pay lower premiums. To the extent that these acquirers also tend to engage in larger acquisitions as well, our findings suggest that a larger selection pool of potential targets and higher value targets enable these acquirers to negotiate for lower premiums. We do not find evidence of the significant effect for target country trust levels. Hence, trust may benefit those acquiring firms in cross-border transactions.     

Tournament-based incentives and mergers and acquisitions

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm's CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms' stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms' managers to make greater efforts and take more risk that result in superior acquisition performance.     

Corporate Innovations and Mergers and Acquisitions

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.