Abstract
This paper aims at examining the financial crisis of Chinese nation-owned performing arts organizations that has lasted for a long time. Firstly, modifying Baumol’s Theory (1966), I obtain a model suitable to China’s status quo, and theoretically analyze its relationship with the supports, government grants and private donations, and the correlation between the two sorts of supports. Then I do an empirical study, using the data from 1997 to 2005, in order to substantiate the existence of the cost disease in China and analyze the influence of the supports, their structure, and the effects between the two. Finally, I get an interpretation to the financial crisis and make comments on the current public policy.
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