Research On Value Evaluation Of M&A Investment In Cultural Enterprises

In recent years,the state has issued a series of policies to support the development of cultural industries.Relying on a sound policy background,the cultural industry has become a hot spot for capital market investment and mergers and acquisitions.Investors hope to realize the value added of their own through mergers and acquisitions through the favorable trend of cultural industry development.In the investment mergers and acquisitions of cultural enterprises,the value evaluation of them is the basis of the price decision of the M&A parties.It is necessary to judge the value created by the investment M&A target culture enterprises from the perspective of specific investors.Therefore,the assessment work should be evaluated according to the investment value.Technical path.However,due to the late start of China's asset assessment industry and the weak research on investment value assessment,the current assessment agencies often use market value assessment instead of investment value assessment,which is difficult to meet the actual demand of investment M&A behavior for investment value assessment.Therefore,combined with the background of cultural industry mergers and acquisitions,it is of practical significance to study the practical application of investment value assessment.Based on the above background,this paper starts with the investment value assessment technology path,proposes to consider the impact of the investment value assessment scope on the evaluation results,and improves the investment value assessment technology path,that is,the market value of the target enterprise and the synergy created by the two parties.In addition to value,consider the value of real options in strategic mergers and acquisitions.At the same time,when selecting the income method for evaluation,it is proposed to use BP neural network prediction model to predict the income,in order to eliminate the problems of traditional evaluation methods.According to different application situations,two kinds of evaluation ideas for forecasting returns are proposed:one is BP neural network prediction model considering cash flow influencing factors,and the other is BP neural network prediction model considering time series analysis,in order to practice from the practical level Improve the investment value assessment model.Based on the theoretical analysis of the process of enterprise M&A value creation,combined with the analysis of the characteristics of cultural enterprises,business models and corporate value,this paper studies the application of investment value evaluation in strategic M&A of cultural enterprises.Taking Aofei Animation's acquisition of Beijing April Star as an example,on the analysis of the investment value assessment technology path,the income method was used to evaluate the investment value,and the BP neural network prediction model was used to correct the income.At the same time,the real option method is used to evaluate the value of real options existing in mergers and acquisitions,and the improved investment value assessment technology path is applied to practical cases.It forms a systematic research framework from theory and practice,and is expected to invest value for follow-up scholars.