Research On The Backdoor Listing Performance Of Focus Media Based On Balanced Scorecard

Culture media industry transmission of traditional pattern is the dramatic changes along with the advance of society,the traditional TV media advertising revenue continues to decline,and newspapers and magazines media theater building mobile Internet media as a representative of digital new media advertising revenue growth,coupled with the Chinese government has launched a number of positive policies to promote cultural media industry development,so more and more cultural media companies are actively to carry on the strategic transformation,eager to enter the capital market to enhance comprehensive strength of domestic listed companies generally in two ways: IPO and backdoor listings,securities regulatory commission has issued several regulations raise threshold of shell Backdoor behaviors are strictly controlled.However,as cultural media enterprises are typical asset-light industries,backdoor behaviors are still the first choice for cultural media enterprises to go public in recent years In this context,this article choose the billed as the first Chinese media focus media backdoor listing case as the research object,through summarizing the current approach to the study of scholars in the backdoor listing,found that compared with some traditional performance evaluation method,the balanced scorecard can be more comprehensively measure the real performance of the enterprise,so in this paper,using the balanced scorecard method for focus media to evaluate the performance of the backdoor listing of study according to the following ideas: first of all to the status quo of China's cultural media industry backdoor listings trade both sides basic situation and backdoor operation background;Secondly,from the focus media 7up holding and the external market environment three aspects analyzed the backdoor motivation;Then from a financial internal process,learning and growth four dimensions to build customer focus media's performance appraisal system,each selected under the framework of the secondary and tertiary indicators,coupled with focus media shell before and after about six years of annual data,carries on the comprehensive performance evaluation,on the basis of reasonable predict the future performance of the enterprise;Finally,combined with the actual situation,this paper proposes feasible Suggestions for the improvement of future performance of focus media,and summarizes the successful experience that the cultural media enterprises to be listed after that can refer to.The research results show that focus media this backdoor listing the undoubted success according to the results of the evaluation of the balanced scorecard,focus media after the backdoor listings dramatically improve financial performance and non-financial indicators are also different extent is listed before ascension,to enhance the core competitiveness of the enterprise,on the whole,the original shell strategic target,and also good when completed the backdoor signed bet terms,therefore,the social all parties to be optimistic to the future development of focus media,that keep a steady rise in the future at least five years However,enterprises must also realize that returning to a-share is only the starting point to open the domestic capital market.In the future,enterprises should continue to pay attention to the research and development of solvency technology and business integration after mergers and acquisitions,so as to go further in the fierce market competition.