Performance Evaluation Of Backdoor Listing For The DMG Entertainment And Media Co.,Ltd

In recent years,under the favorable background of the country's support for the prosperity and development of the cultural industry,the cultural industry will usher in a golden period of development.Compared with traditional industries,the cultural industry is a light asset industry with high growth,high profitability and broad prospects.At the same time,with the development of enterprises,enterprises are facing greater capital needs and market demands.Many cultural media companies hope to use the power of the capital market to improve their competitiveness,especially in the climax of the “big mergers” and “great integration” of the cultural industry from 2013 to 2015.It is also the period of mergers and acquisitions in the cultural media industry.The cultural media industry is unable to meet the conditions of IPO listing due to the limitations of its own industry.In addition,its backdoor listing is favored by many cultural media companies.Many companies have chosen to go back to the market in the context of the national environment and industry.The number of cultural media companies listed on the backdoor has grown,making research on backdoor listings meaningful.Based on the related theories of backdoor listing,this paper introduces the background,the profile of both parties,the motivation and the operation mode of DMG's backdoor listing,and introduces the case of DMG.Detailed indicators and methods for evaluating short-term and long-term performance used in performance evaluation.This paper uses the long-term and short-term comprehensive method to evaluate the performance of DMG's backdoor listing.The short-term performance evaluation uses the event research method,and the long-term performance evaluation uses the combination of the entropy method and the catastrophe series method.The research results show that the short-term performance of DMG's backdoor listing is good,and the long-term performance has not maintained its advantage.Many indicators have declined after two years of completion,thus this paper found out the unsatisfactory resource integration and main business capability of DMG's backdoor listing and other issues.Combined with these problems,this paper puts forward some suggestions for improving the performance of DMG's backdoor listing,and summarizes the enlightenment of this case analysis.At the same time,I hope to provide management ideas for companies that want to backdoor in the future and those who have already listed on the backdoor.