A Performance Analysis Of Huace Film And Television Gambling Agreement

With the development of the socialist market economy and the adjustment of the cultural industry,the market competition in the cultural industry is becoming increasingly fierce,especially in the film and television industry.It is difficult for enterprises to grow rapidly only by relying on their own development,so they need to merge and integrate more cultural industry resources to optimize the structure,expand the scale and improve the market share,so as to stand out in the market competition.As a financial instrument to reduce the investment risk,the bet agreement can overcome the risk caused by information asymmetry and protect the economic rights and interests of the investors and the acquired enterprises.The investor and the financier should fully understand the advantages and disadvantages of the bet agreement,reasonably design each term of the bet agreement,make full use of the advantages and circumvent the disadvantages,optimize the contract terms of the bet agreement,reduce their own economic risks,make the investor get investment income and the financier get the needed development funds,and realize the mutual benefit of both sides.Many enterprises want to take advantage of the development of the film and television industry to improve their strength to get listed economic benefits.At the same time,some listed companies expect to acquire other high-quality film and television companies to optimize the industrial structure,achieve strategic transformation,expand market share,and improve the reputation and influence of enterprises.In order to prevent investment risk and protect the safety of investors' funds,it is necessary to conclude a bet agreement in the merger and acquisition of enterprises.This paper takes huace film & television merger and acquisition of kerton media case as the research and analysis object.This paper analyzes the background and process of merger and acquisition activities on the basis of fully referring to the domestic and foreign theoretical research results,and expounds the valuation of bet agreement and value.Information asymmetry theory,incomplete contract theory,option theory,game theory,incentive theory,financial index method and EVA analysis are used to analyze the purpose of the bet agreement and the result of creating value.At last,some countermeasures are put forward to solve the problems of the bet agreement.Through the analysis of the performance targets and performance compensation commitments agreed by huatse film & television merger and acquisition of kerton media,this paper puts forward some preventive Suggestions for the film and television industry that may not be able to achieve the performance gambling targets,so as to protect the interests of both investment and financing parties,and hopes to provide certain reference value for the film and television industry merger and acquisition.