The impact of the financing structure of cultural enterprises on enterprise value under the ACC payment model

To avoid financial risks, this paper validates the relationship between EV the two based on enterprise value ( EV ) as the dependent variable, and the indicators of debt financing and equity financing structure models as independent variables. Firstly, we introduce interaction terms and panel threshold regression to verify the effect of debt financing structure on enterprise value. Subsequently, a multiple regression results approach is used to verify the impact of equity financing structure on firm value. The analysis of the results shows that the impact of debt financing on enterprise value is divided into four levels at the nodes of 17.876%, 43.294%, and 74.312%, and the higher the level, the smaller the promoting effect, and the larger the inhibiting effect; the impact of equity financing on enterprise value is positively correlated with a correlation of 0.3652, and the higher the concentration of equity, the larger the promoting effect. Overall, equity financing has a greater facilitating effect and lower risk for cultural enterprises compared to debt financing, and to a certain extent, it enables enterprises to actively embrace the market, improve the product effect power, innovate and develop, and increase the growth of enterprise value.