Digitization and Performance of Chinese Cultural Firms :A Fuzzy-Sets Qualitative Comparative Analysis

Studies that cause differences in the performance of firms in the same industry present complex causality, and thus the use of configuration Analysis is the appropriate approach. For the cultural industry, intangible assets are recognized as a core element. So, it is worth exploring why some firms with many intangible assets do not perform well. This paper focuses on which configuration affects the performance of cultural firms by using a Super-Efficiency-SBM model to measure firm performance and a panel FsQCA to answer the question of what conditions determine the performance output of different firms over a specific time interval. This paper finds that for cultural firms, the low intangible assets can explain part of the inefficiency, but having intangible assets that need to be accompanied by a low shareholding concentration or a high degree of digitization and a low degree of marketization, will perform better.