Research On The Value Driving Factors Of Film And Television Enterprises From The Perspective Of Value Chain

With the development of film and television industry,the market behaviors of film and television business have been more active.Enterprise mergers and acquisitions and investment and financing of film and television business are in vogue in recent years,leading to the needs of enterprise valuation is particularly urgent.However,film and television enterprises because of its light assets,uncertainty and high risk has become one of the big valuation problem of assessment area.In this context,this article focuses on the value assessment of film and television enterprises from the perspective of value drivers,in order to make good auxiliary work and pave the way for film and television enterprise value evaluation problem.First of all,based on the value chain,related theory and method of enterprise value evaluation,the characteristics of the film industry and the particularity and valuation difficulties of film and television enterprise,this paper identify the key value drivers through the value chain from basic activities and auxiliary activities.Then based on the identified the value driving factors,the corresponding comprehensive evaluation index system was constructed.Use the correlation analysis to verify the relationship between the constructed index system and the value of the film and television enterprises,and eliminate the evaluation index without verification,sort the rest of the evaluatio n index according to correlation strength and its Important degree.Next use the Analytic Network Process to establish ANP model index system and the network structure of film and television enterprises,according to the important degree of each element to establish judgment matrix,run SD software to get priority of each element.Finally,this paper uses listed film and television enterprises in 2015 as the research object,uses of the constructed ANP model index system,network structure and the priority of each class to sort the value of the sample company,and compared with sorting result by market price in order to verify that the result is rational and scientific.The results show that the evaluation index system of film and television enterprises based on the value chain of film has strong scientific and reliability.Finally,through the analysis of the theoretical and empirical analysis,this paper points out the limitations and improvement measures.