Analysis Of The Motivation And Effect Of High-Priced Mergers And Acquisitions In The Film And Television Industry

In recent years,with the increasingly fierce market competition,market mergers and acquisitions have become commonplace,and there is a growing trend.On the one hand,M&A behavior can reduce the barriers for enterprises to enter another industry,making it possible to diversify and develop.On the other hand,mergers and acquisitions in the same industry can also create synergies among enterprises,enhance their financial capabilities,operational capabilities,reduce the impact of market changes on themselves,and make themselves invincible.It can also ease or improve its performance by purchasing quality resources.Due to its high profitability and short duration,the film and television industry has become the target industry favored by many enterprises.However,due to the particularity of the film and television industry,a large number of assets are intangible assets,which cannot be reflected on the books,and they generally use the income method to conduct asset evaluation of mergers and acquisitions.There is a difference between the two.From a few to a few times.There have been some negative effects on the entire market.The main framework of this paper is as follows: The first part,first introduces the relevant background and significance of this research,and combs the existing literature.The second part mainly elaborates and analyzes the relevant theories of research topics.Including the current status of mergers and acquisitions,the status of premium mergers and acquisitions,the agreement on gambling and the specific data corresponding to the film and television industry.The third part is the case analysis part of this article.In the case analysis,the main aspects of motivation and effect are discussed.In terms of motivation,high-value mergers and acquisitions are mainly attributed to the policy dividends of the film and television industry,the unique star IP resources of the target company Dongyang Mela and the foreseeable synergy brought about by the merger of the two enterprises.In terms of effects,it is mainly analyzed from three perspectives.The results of the event research method show that the financial synergy of this merger is not significant.The market does not recognize this high-value merger and acquisition.The merger does not bring obvious excess returns to the enterprise;the analysis of the operational synergy effect is divided into financial indicators.Analysis and analysis of non-financial indicators.Through the analysis of multiple financial indicators,it is found that the merger has a slight stimulating effect on the various capabilities of the enterprise;the non-financial standard selects the box office contribution,and finds that Dongyang Mela's contribution to Huayi Brothers is considerable.Although the performance commitment is achieved,compared with industry data,the implementation is not very optimistic.The fourth part concludes that high-value mergers and acquisitions are not a preference.The positive benefits to the company are limited,and the risks and negative benefits that follow are particularly impressive.At the end of the article,the paper gives suggestions on the phenomenon of high-value mergers and acquisitions in the film and television industry.On the one hand,the regulatory authorities should review and standardize mergers and acquisitions with abnormally high premiums.On the other hand,the main party should employ experienced assessment agencies to conduct value assessments,rational decision-making,and not blindly confident.The acquiree must also be honest and proactively maintain market order.Make the entire market atmosphere more rational.