Value Creation Evaluation Of Huace Film And Television Merger And Acquisition

At present,with the pace of social development and the acceleration of the reform process,China's economic market is developing rapidly.Meanwhile,in order to promote the construction of cultural industries,the government has formulated a series of policies to provide strong support for the cultural industry.On this basis,the internal competition in the cultural industry has become increasingly fierce,especially in the film and television industry,the market competition is more severe.Among them,there are many small and medium-sized film and television companies trying to obtain self-protection through mergers and acquisitions.Large-scale companies integrate film and television resources through mergers and acquisitions.And they also optimize the industrial structure to maximize value,and expand market share,to stabilize the industry.Through the boom of mergers and acquisitions,experts and scholars have found that there are not many successful cases that can create value for enterprises after mergers and acquisitions.Therefore,how to make mergers and acquisitions create value for enterprises has become the most concerned issue for operators and scholars.Previous research on M&A value creation was limited to empirical research that influenced value creation factors or analysis of single activities in M&A,and it lacked evaluation of M&A value creation and overall path exploration.This article takes the more influential M&A activity in the film and television industry-Huace Film and Television mergers and acquisitions Ketun media case as the research object.After studying a large number of related topics and theories at home and abroad,the author used the case analysis method to evaluate the value creation of Huace Film and Television Merger and Acquisition Media.Firstly,it introduces the background and process of M&A activities.On this basis,it analyzes the motivation of M&A and the process of M&A to reflect the value created by M&A.Secondly,a qualitative analysis of the source of M& A value creation to show that there is a synergistic effect when the merger integration.Finally,using the accounting research method,Event Study and EVA analysis method to evaluate the value of mergers and acquisitions created by different levels.That is,from the growth of stock price to the increase of company capital,it proves the realization of value creation and the success of this merger and acquisition activity.Through the evaluation and analysis of the value creation of Huace Film and Television Merger and Acquisition Media,this paper attempts to sort out the overall path of the value creation of Huace Film and Television M&A.At the same time,according to the merger and acquisition activities of Huace Film and Television,the author proposes some suggestions for the M&A activities of China's film and television industry.I hope that this thesis can provide some reference value for the M&A activities of the film and television industry.