The Application Research Of AHP-fuzzy Synthesis Method In Private Equity Investment Valuation Of Cultural Enterprises

Since March 2010,when nine ministries,including the Ministry of Finance and the People's Bank of China,issued Opinions on Financial Support for the Revitalization and Prosperity of Cultural Industries,the financial support and innovation measures of the cultural industry have been greatly accelerated,providing strong support to the financial system of the cultural industry.Many investment institutions have poured into the cultural industry,which makes China's cultural industry develop rapidly in the direction of intensive and large-scale.At present,private equity investment in the cultural industry has gradually become a hot spot.At the same time,in the practice of private equity investment,valuation has always been an important reference for transaction pricing,and is an important part of bilateral cooperation and negotiation,which directly affects the interests of both parties.In addition,the particularity of cultural industry makes the valuation of cultural enterprises 'private equity investment difficult,and it is a big obstacle for cultural enterprises to raise funds through private equity.Therefore,how to consider these special influence factors comprehensively and avoid the investment risk caused by the valuation deviation in the traditional valuation method,scientific and objective valuation of unlisted cultural enterprises has become an urgent problem to be solved by more and more investment institutions.Under this background,this paper firstly analyzes the applicability of each valuation method to the cultural enterprises from the main current valuation theory.Through the analysis of the applicable conditions and the advantages and disadvantages,this paper educes the question that the valuation method of the private equity investment of the cultural enterprises is not applicable.Secondly,based on the particularity of cultural enterprises,this paper analyzes the difficulties in the valuation of private equity investment in cultural enterprises,and puts forward the applicability criteria for the valuation method of private equity investment in cultural enterprises.Based on the basic principle of AHP-Fuzzy synthesis method,this paper introduces the application method and steps of AHP-Fuzzy in the valuation of cultural enterprises.Finally,this paper selects the private equity investment project of the cultural industry---ZX Information Technology Development Co.,Ltd.as the case study object.To classify and grade the influencing factors of the company,AHP-Fuzzy method is applied to the valuation of private equity investment in cultural enterprises.Fuzzy analysis and analytic hierarchy process are used to make qualitative analysis of the valuation results.The valuation range is determined by the market method,and then the AHP-Fuzzy method is applied to the valuation of private equity investment in cultural enterprises.On this basis,the relative accuracy of the valuation method and the reasons for the difference of valuation results are discussed.Finally,this paper analyzes and summarizes the case,puts forward some suggestions and enlightenments from the angle of investors and financiers respectively,and provides some reference for both parties of private equity investment and financing in cultural enterprises,In order to improve the universality of private equity investment valuation method,the AHP-Fuzzy method is applied to the private equity investment of cultural enterprises,so as to better serve the private equity investment of the cultural industry.