Research On Valuation Of Cultural Property Rights Transaction In China

In recent years,with the gradual advancement of socialist cultural powers,the contribution of cultural industries to China's economic construction and social development has become more and more prominent,and the transaction of cultural property rights has also been rapidly developed.However,due to the short establishment time of cultural property rights trading market in our country,the mode and pricing mechanism of cultural property rights transaction are in the stage of exploration and trial.In the actual transaction of cultural property rights,the price manipulation behavior frequently occurs,which makes the transaction price of cultural property rights seriously deviates from its actual value,harms the interests of investors and jeopardizes the healthy development of the cultural property rights trading market.As we all know,the core of culture lies in property rights.The core of property rights lies in pricing,and the starting point of pricing is valuation.Therefore,the key to solving the price manipulation behavior of cultural property rights transactions is to reasonably evaluate the value of cultural property rights.So far,the research on the valuation of cultural property rights transaction is still relatively few.Therefore,it is necessary to study the valuation of cultural property rights transaction in the light of the actual development of the cultural property rights trading market in China,which has important guiding significance for the fair pricing transaction of China's cultural property rights and the healthy development of the cultural property rights trading market.To this end,this paper takes the fast developing cultural property rights trading market as the research object,and builds an evaluation model suitable for the valuation of China's cultural property rights transaction based on a comprehensive comparison of various cultural property valuation methods.Specifically,this paper first briefly analyzes the research background and significance of the valuation of cultural property rights,and summarizes the existing relevant literature to review the shortcomings in the research.On this basis,this study proceeds from the theory and reality of the cultural property right transaction,and analyzes the significance of the valuation of cultural property rights transaction to solve the problems of the current cultural property rights trading market in China,and many defects of the actual methods of the valuation of cultural property rights transaction.In particular,in order to make up for the deficiency of current cultural property valuation methods,this paper constructs a real property option valuation modelof cultural property rights by introducing the real option theory.Finally,in order to verify the rationality of the evaluation model of the real option value of cultural property rights,this paper takes the equity of Great Wall Film and Television Co.,Ltd and the film copyright of "Boonie Bears: The Big Shrink" as examples to analyze.By analyzing the status quo and characteristics of China's cultural property rights trading market,we can see its incompleteness,and it will affect the reasonability of cultural property transaction valuation results.In addition,the price manipulation situation frequently appears in the practice of China's cultural property rights transactions,which also reflects the importance of the valuation results and the limitations of the current traditional methods of cultural property valuation.Based on the conclusion above,through theoretical analysis and case study,this paper finds that the real option valuation model of cultural property rights can effectively compensate for many defects of traditional valuation methods such as the present income value method,and can expeditiously reflect the true value of cultural property rights,so that the evaluator can obtain a more fair and comprehensive assessment of the results.Based on this,this paper holds that to apply the real property valuation model of cultural property rights to the actual transaction of cultural property rights,we should first establish a system of cultural property valuation method including the valuation model of the real option value of cultural property rights.Secondly,it is necessary to build a sound sharing system of evaluation information resources,to realize the openness and transparency of evaluation information,and to promote the scientization and standardization of cultural property valuation;finally,it should establish a third-party cultural property valuation authority institution to ensure the authority and the compliance of cultural property valuation.