文化产业区域性股权市场与小微文化创意企业融资分析  

Analysis of Small Micro Culture Creative Enterprise Financing Problem and Regional Equity Markets

作　　者：张苏秋[1] 顾江[1] 

机构地区：[1]南京大学商学院

出　　处：《南京社会科学》2015年第8期53-58,共6页Nanjing Journal of Social Sciences

基　　金：国家自然科学基金面上项目"演化经济地理视角下创意产业空间演化动力机制研究"(71373119);文化部文化产业司委托课题"成长型文化企业扶持计划实施方案的可行性咨询服务"的阶段性成果

摘　　要：信息不对称是导致小微文化创意企业融资难问题的根本原因。在对总结小微文创企业融资困境成因的基础上,构建地方政府部门和民间借贷机构的演化博弈模型,并通过仿真模拟对演化博弈均衡路径加以检验。研究发现,小微文创企业融资困境在于,现有市场结构下,其代言人地方政府与外源融资来源民间借贷机构的博弈均衡是(不激励,不投资),而文化产业区域性股权交易市场上的博弈均衡却是(激励,投资)。建立文化产业区域性股权交易市场对解决信息不对称,帮助小微文创企业走出融资困境具有重要意义。Information asymmetry is the root cause of the small culture creative enterprise financing difficult problem. Based on summarizing the small micro culture creative enterprise financing predicament causes, constructed evolutionary game model between local government departments and of private lenders, and tested the equilibrium path through the simulation of evolutionary game. The study found that, under the existing market structure, game equilibrium between the local government as the spokesman of small micro culture creative enterprise and folk lending institutions as exogenous financing source is（ no incentives, investment）, however the game equilibrium in regional cultural industry equity trading market is （incentives, investment）. Establish a regional cultural in- dustry equity trading market is of great significance to solve the information asymmetry, help small micro gen enterprise out of the financing problem.

关 键 词：小微文创企业 融资博弈 区域性股权交易市场 

分 类 号：F8[经济管理]