Research On The Performance Of Jebsen's Share Acquisition From The Perspective Of Industrial Value Chain

In the work conference of the 13 th five-year plan,China clearly hopes that the cultural industry can develop rapidly into an industry that promotes the economic and social development of China in 2020.And,the development of cultural industry has rised to the level of national strategy.The value of mergers and acquisitions in the culture and media industry in the first half of 2019 was $4.81 billion compared to the first half of 2018,although the number of deals declined.But the size of the deals rose sharply,by 52.46 percent.How to choose the right way to achieve the goal of merger and acquisition,how to carry out the process of merger and acquisition smoothly and achieve the goal of merger and acquisition,and how to improve the performance of enterprise merger and acquisition through the way of merger and acquisition are the common difficulties faced by many film and television media companies.As a film and television company in China,Beijing jebsen century co.,ltd.has gradually developed into a film and television company by relying on audio and video technology at the beginning of its establishent,and by continuous mergers and acquisitions after listing.The company went public in 2011,with "content copyright operation" as the core strength,and a variety of businesses implementing the concept at the same time,the company gathered resources to build an industry chain with "copyright" as the starting point and "re-release",with distribution band production,and with technology 4K upgrading,forming a prominent business profit model.At the same time,the long-term strategic layout of digital education business,for the future new business growth points to lay the foundation.It has became one of the active companies in the film and television market on china.What changes have taken place in the value chain of jebsen after the completion of m&a activities? In the vertical and horizontal value chain stage,how does its m&a performance differ? These problems are the focus of this paper.This paper takes the m&a events published since the listing of jebsen as the research object.Firstly,it shows the process of vertical and horizontal value chain and the situation of the m&a company.Then it analyzes the m&a and its performance in the vertical and horizontal value chain of the enterprise.Finally,concrete Suggestions are put forward.The extension of enterprise value chain can be divided into two stages: vertical stage and horizontal stage.M&a performance is divided into short-term and long-term evaluation.The results of this paper show that the value chain of jebsen shares has changed from the middle to the upper reaches and then to the lower reaches since the listing.In the vertical and horizontal value chain stage,the m&a performance of film and television companies is different.In the vertical stage,the short-term performance of m&a is somewhat improved,while the long-term performance of m&a is stable and fluctuates within a value.In the horizontal stage,the short-term performance has a small decline,while the long-term performance of m&a remains stable.The reason for this is that with the increase of the vertical and horizontal value chain,the business scope of enterprises keeps increasing,the cash flow decreases,and the operation of various sectors weakens the profitability of their own businesses.The research have a certain of refer significance for other company how the film and television enterprises change the value chain,whether the business strategy is consistent with the merger and acquisition direction,and whether the merger and acquisition performance improves.