The Survival of Cultural Firms: A Study of Multiple Accounting Parameters in Spain

Abstract

Cultural firms are an important development factor in economic and social terms. Their objectives are often aimed at maintaining and disseminating the traditions and values of societies. The prosperity of these firms in a nation ensures that its tangible and intangible cultural heritage is made known to other nations and generations. Despite their importance, little is known about their survival and the factors associated with it. This paper analyses data from 6951 Spanish firms, of which 2105 are cultural firms. We have studied the survival of non-cultural firms in comparison with cultural firms and also the impact that profitability, solvency and indebtedness may have on their survival. We have used the Kaplan–Meier method in order to assess their survival and the Harrington–Fleming test and the Cox regression model to check the statistical significance of variables. These variables are key factors influencing the survival of cultural enterprises. Particularly, low solvency in firms increases by twenty the risk of disappearance. This paper contributes to literature highlighting some of the key factors for the survival of cultural enterprises. It provides administrations with a roadmap in order to implement measures for the promotion of the cultural industry, favouring the process of enhancement of cultural heritage.

Megalitik di Daerah Cianjur : Studi Peninggalan Tradisi dan Nilai Budaya dalam Konteks Arkeologi dan Koservasi

“…Perusahaan budaya merupakan faktor penting dalam pembangunan ekonomi dan sosial, karena mereka sering bertujuan untuk mempertahankan dan menyebarluaskan tradisi dan nilainilai masyarakat (Muñoz Dueñas et al, 2020). Kemakmuran perusahaan-perusahaan ini memastikan bahwa warisan budaya yang berwujud dan tidak berwujud dari suatu bangsa dapat diketahui oleh bangsa dan generasi lain.…”

“…Hal ini menyoroti perlunya menentukan nilai-nilai perlindungan warisan budaya yang sesuai untuk budaya yang berbeda. Perusahaan budaya merupakan faktor penting dalam pembangunan ekonomi dan sosial, karena mereka sering kali bertujuan untuk menjaga dan menyebarluaskan tradisi dan nilai-nilai masyarakat (Muñoz Dueñas et al, 2020).…”