A Study On The Performance Of Industrial M&A Of Cultural Industry Company

The current fierce competition has become a social norm.If enterprises want to get the dominant position in the fierce competition,M & A is a good choice.Large and medium sized enterprises in China choose mergers and acquisitions to improve their competitiveness in the industry.The number of domestic mergers and acquisitions and overseas mergers and acquisitions increased year by year.As a way of capital operation,M & A can make the resources of enterprises be optimally allocated,and increase market share.The effect of merger and acquisition,such as whether the target of mergers and acquisitions before the merger and acquisition can be achieved,whether the value of enterprises and shareholders can be maximized,can be reflected through the performance of mergers and acquisitions.Culture,as a core resource,has become the driving force for greater development of state and enterprises.The cultural industry,as a medium for producing cultural products and spreading the mainstream values of the society,has stepped to a new stage along with the high quality development of Chinese economy.The transfer of rural labor speed up the pace of urbanization,the living conditions of residents are more and more superior,so most of the residents are no longer satisfied with the past kind of food and clothing,and more attention and pursuit of the sense of satisfaction and gain of spiritual value.The state has constantly introduced preferential policies for the cultural industry,the vigorous implementation of the innovation driven strategy and the introduction of advanced technology,etc.,which have stimulated and promoted the prosperity of the cultural industry.The merger and acquisition of domestic cultural industry is quite common.In recent years,as China opens wider to the outside world,enterprises that choose overseas mergers and acquisitions to achieve greater leaps and bounds also grow.Research on overseas acquisitions of cultural enterprises is quite meaningful.There are five parts in this article.The first two parts of the paper introduce the background and theoretical and practical significance of the study.The related literature at home and abroad is collated and commented.Four theories related to performance are expounded.The third part introduces the overall situation of the industry.What is the difference between the overseas cultural acquisition and the overseas M & A in other industries? Two aspects of internal and external motivations and the future direction of overseas mergers and acquisitions of cultural industry will go in what direction.The fourth part is the case analysis part.The first half is mainly about the introduction of the main parties,the background and the whole process of the merger and acquisition.This paper focuses on the two aspects of Phoenix media's own development needs and external environment,and expounds the reasons for the merger of Fenghuang media.Analysis of the long and short period of merger and acquisition performance changes,the use of the two methods of analysis of the event research and financial indicators,and supplementary analysis of the changes in the employee's educational background.Through the acquisition,the performance of Phoenix media has been improved.So the merger was a success.In the end,this paper gives some enlightenment from the time dimension to the cultural industry by three time nodes before merger and acquisition,and after the merger and acquisition,in order to provide reference value for other companies in the cultural industry.