Research On Financial Performance Evaluation Of Listed Companies In Film And Television Industry

In recent years,movies and TV dramas made by China's film and television companies have frequently exploded,and the consumption of film and television products has continued to grow rapidly.Film and television companies involved in the production,distribution,screening,and development of film and television derivative products in TV dramas and movies have come together under the current wave.The film and television industry is one of the heavy capital industries.Its unique business model leads it to be different from a traditional manufacturing enterprise.It has the financial characteristics of light assets,high proportion of accounts receivable,and high liquidity ratio.The financial performance evaluation model for listed companies in the film and television industry needs to be designed according to their financial characteristics in order to more accurately judge the financial performance level of listed companies in the film and television industry.The existing research has not been specifically applied to the financial performance evaluation system of listed companies in the film and television industry and cannot meet the evaluation needs of specific entities.This article chooses the investor as the evaluation subject,based on the analysis of the financial characteristics of the listed companies in the film and television industry,selects the index of financial performance evaluation by principal component analysis,and uses the entropy method to determine the weight of each index.The TOPSIS method is used for comprehensive evaluation and a set of applicable The financial performance evaluation system of listed companies in film and television industry.Different from the existing financial performance evaluation system for listed companies,regardless of the industry,from the perspective of index selection and index weight,this article considers the financial characteristics of listed companies in the film and television industry and the needs of investors for evaluation,and builds a prominent company's growth capability.The company financial performance evaluation model of the importance of operational capability.Judging from the weight of a single indicator,the weights of the two indicators of net assets per share and accounts receivable turnover of listed companies in the film and television industry are the largest.Judging from the weight of category indicators,the listed companies in the film and television industry have the highest weighted growth ability,followed by operational capacity,while the three ability categories of profitability,debt repayment ability and equity expansion ability have slightly lower weights and are not much different from each other.The study found that for investors in listed companies in the film and television industry,the focus of their investment is not on short-term profitability,but on the company's sustainable development and healthy operations.Better growth ability and operational ability are important guarantees for the continued growth of the value of listed companies in the film and television industry.This article uses this evaluation system to assess the overall financial performance and profitability,debt repayment ability,growth ability,operational ability,and equity expansion ability of18 film and television industry listed companies during 2014-2016.Taking Huace Film and Television as an example,the horizontal and vertical analysis combined to make a comprehensive evaluation of the company's financial performance.The results show that the overall financial performance of Huace Film and Television fell from the industry's top position in 2014 to the midstream of the industry in 2015 and 2016,mainly due to the decline in its growth capacity and profitability in the past two years.Based on the analysis results,this article proposes to the administrators of Huace Filmand Television.Huace Film and Television should,while stabilizing its own TV drama business,properly control the production cost,enhance the technological content of the products,and make its own film and television products on the frontier and trend to ensure future development.The evaluation results obtained by using this model can provide company investors with assessment and decision-making reference.