A Study On The M&A Performance Evaluation Of Cultural Enterprise Based On BSC

The 19 th Congress of the Communist Party of China points out that "culture is the soul of a country and a nation." It is obvious that culture is very important to the construction of a country's spiritual civilization.The 18 th Congress of the Communist Party report on the cultural construction is an important part of the modernization of the five-in-one.Cultural enterprises,as part of the cultural industry,are the main force of cultural construction.As the cultural construction has risen to the level of national strategy,the support of the state for cultural enterprises is also increasingly prominent,which provides a rare opportunity for the rapid development and expansion of cultural enterprises.Enterprise annexation is an important means for a listed company to seek its own development,expand the core business,expand and extend its own industrial structure.At present,in order to grasp opportunities and dividends,cultural enterprises choose mergers and acquisitions to enhance their core competitiveness and fight against market risks,so as to cater for the trend and trend of the development of cultural industry.This paper will use the Balanced Score Card to build a performance evaluation system for cultural enterprises,and use the case of tulip as a new culture to evaluate the performance,and put forward the rationalization proposals,in order to provide reference for the cultural enterprise merger and acquisition.This paper mainly includes the following contents,the first chapter is the introduction,mainly introduces the research background and significance,research ideas,research framework,and innovation,and focus on the basis of previous research and published literature were reviewed,the performance of M & a rise and fall,and the purchase method,study on the performance and cultural performance of MampA etc.make a concrete classification.The content of the second chapter is mainly about the definition and theoretical foundation of the performance evaluation of M & A,especially the concept and theoretical content of the Balanced Score Card.The third chapter is the analysis of acquisition performance evaluation the Balanced Score Card method under the enterprise culture based on the theory,introduced the existing enterprise performance evaluation methods and the use of the Balanced Score Card as a cultural enterprise M & Aperformance evaluation tool,and the Balance Score card to construct the index system of enterprise culture.The fourth chapter is about the case analysis of the tulip media in Shanghai's new cultural merger and acquisition.According to the specific case,it validates the construction of the index in the theoretical analysis.The fifth chapter is the conclusion,the deficiency and the countermeasures and suggestions,the case part is summarized,and the relative limitations of this study are put forward.This paper selects financial data and non-financial data of New Culture for 2012-2016 years,combines case analysis with theoretical analysis,and establishes index system based on customer,finance,internal process,learning and growth ability as the main evaluation means.The case of the new culture merger and acquisition of tulip is demonstrated in the theoretical analysis part,and the performance of M & A cases is evaluated.In the financial dimension,find profit ability and development ability of the new culture because of the merger has been well improved,but because of rising debt financing and mergers and acquisitions in the integration of both aspects of the problem,resulting in a new culture of the solvency and operation ability have a certain degree of decline.In the aspect of customer dimension,the word of mouth of the cultural products of the new culture has risen,and the performance of the capital market is better.In terms of internal business process dimension,new culture has not been well adapted to the change of industrial structure,resulting in an increase in its management fee rate and financial cost rate.In terms of the dimension of learning and growth,the cultural products of the new culture are both strengthened at both ends of input and output,and the input output is better than that of the original.