Exploratory Study on Investing and Financing Strategy of Cultural and Creative Industries

• Main Authors: Lee, Yin-Jie, 李英傑
• Other Authors: Tung, Shin-Ta
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/25730959131796804516

碩士 === 實踐大學 === 企業管理學系碩士在職專班 === 101 === Cultural and creative industries in Taiwan consist of mostly small and medium enterprises. It is not easy to raise funds for cultural and creative industries,regardless of issuing securities or getting loans from banks. The reasons include that cultural and creative business cannot disclose fully and completely financial statements, cultural and creative business’s more volitale in operations, financial institutions are not familiar with cultural and creative industries and the intangible assets coming from new technology or new ideas are not easy to be pledged. This study is based on cultural and creative industries accompanied by the literature review and the cultural and creative industries related data of U.K., USA, Japan and South Korea, to analyze the relationship between financial indicators and profitability by multiple regression. The data were retrieved from the database of the Taiwan Economic Journal (TEJ) and Market Observation Post System (MOPS) during 2008 to 2012. The result of the study shows that debts ratio, total assets turnover (times), cash flow reinvestment ratio, sales(revenue) growth rate have significant influence on profitability. The suggestions include that cultural and creative industries are encouraged to provide more proper financial statements, to use special direct financial strategies, and to consider pledging intellectual property rights to get funds. Government should provide counseling service to cultural and creative industries in order to help them invest and finance, to help financial institutions understand and finance audit cultural and creative industries, to establish technology appraisal centers, and to set up patent development companies. I suggest that financial institutions should deeply understand the industrial visions of cultural and creative industries and securitizations of financial assets, accept the pledged intellectual property rights in order to provide funds to cultural and creative industries, and most importantly assist in investing and financing cultural and creative industries.