The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation

Weicheng Guo; Sifei Zhang

doi:10.47297/wspceWSP2516-251922.20250903

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The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation

Volume 9, Issue 3

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The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation
The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation
1.City University of Macau, Macau, 999078, China
2.Guangzhou Xinhua University, Guangzhou, Guangdong, 523133, China
Vol. 9, Issue 3, Pages: 112-117(2025)
Published：30 June 2025
DOI：10.47297/wspceWSP2516-251922.20250903
Accepted：

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Guo Weicheng,Zhang Sifei.The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation[J].Creative Economy,2025,09(03):112-117.
DOI：

Guo Weicheng,Zhang Sifei.The Impact of Financial Support on the Cultural Industry: The Mediating Role of Technological Innovation[J].Creative Economy,2025,09(03):112-117. DOI： 10.47297/wspceWSP2516-251922.20250903.

摘要

Abstract

This study explores the impact of financial support on cultural industry development and the mediating role of technological innovation using panel data from 31 Chinese provinces between 2012 and 2022. The analysis shows that financial support significantly promotes cultural industry development

while technological innovation partially mediates this relationship. Additionally

industrial structure optimization has a positive impact on the cultural industry

whereas economic level

government support

and the number of cultural institutions show no significant effects. Based on these findings

the study suggests enhancing financial product innovation

such as intangible-asset mortgage loans

promoting the deep integration of culture and technology

and improving the multi-level financial support system to boost the efficiency and quality of cultural industry development.

关键词

Keywords

references

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Keane M , Ryan M D . Worlds apart? Finance and investment in creative industries in the Peoples Republic of China and Latin America . [J ] . Telematics and Informatics , 2005 ( 22 ): 309 - 311 .

Peng H. Financial Support Effects on Cultural Tourism in Yangshuo County . [J ] . Tourism Management and Technology Economy , 2024 ( 7 ): 28 – 38 .

Wan Y. S. A comparative study of financial industry added value and its support for the real economy . [J ] . Southwest Finance , 2022 ,( 9 ): 18 - 32 .[ ChineseIn ] .

Zhang Q. Financial Support Efficiency in Chinese Cultural Industries: A Provincial Panel Analysis . [J ] . Journal of Mathematical Finance , 2022 , 12 ( 3 ): 45 – 60 .

Zhou G. High-Quality Development Paths for Financial Support in Cultural Tourism: Evidence from Gansu Province . [J ] . Tourism Management and Technology Economy , 7 , 28 - 38 . 2023 .

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