Research On The Financial Impact Of Tax Evasion By Star Shareholders On Film And Television Media Companies

In recent years,with the continuous development of China's economy,people's demand for spiritual culture has been further expanded.The film and television media industry has a good growth trend and a number of popular cultural products have emerged.In order to support the development of the film and television industry,many preferential tax policies have been introduced throughout the country.Film and television stars are also loved by the public by virtue of high exposure and attention,every move has a great impact on the public.However,it is precisely because of the rapid and vigorous development of film and television media industry that the industry is in a lame-duck state:the film and television media industry practitioners take advantage of the preferential tax policies of local governments to pay less tax,no tax or even evade tax has become an unspoken rule in the industry.In 2018,"fan bingbing's tax evasion incident" has undoubtedly become the hottest topic of discussion,The fine for Fan Bingbing is as high as 884 million yuan,which has attracted the public's attention.What kind of impact will the illegal behavior and huge fine of the shareholders bring to the listed companies related to the film and television media industry?How do the company deal with it?According to the above problem,this paper uses normative research,event study and case study method,reviewed the shareholder behavior and media reports about the company's financial impact related literature,combed the reported associated with the company,impact on the company's relevant theories on the development of the current film&television industry,star shareholders of the brief analysis of the current situation and relevant tax issues.With Fan Bingbing as one of the major shareholders,Tande Films&Television as the case company,this paper made an in-depth study on the impact of the exposure of tax evasion incident of individual star shareholders on the company's capital market performance and financial performance,and finally put forward targeted feasibility Suggestions.The following conclusions are drawn through the study of the event and the specific analysis of the case:(1)the exposure of tax evasion incident of star shareholders has damaged the reputation of tande film and television company,and investors have a negative attitude towards the company.The company's share price has fallen and its market value has been greatly reduced,which will be difficult to recover in a long time.(2)after the tax evasion of star shareholders,the current ratio and quick-freezing ratio decreased,the equity multiplier increased,and the solvency of the company decreased.(3)tax evasion by star shareholders leads to pressure on the film and television media industry and tends to be under strict supervision.Dozens of "inventory" air time of tangde film and television company are to be determined,and the inventory turnover rate,receivables turnover rate and total asset turnover rate are reduced.The company has problems in operating cash flow,capital turnover is not free,and its operating capacity is reduced.(4)the operating profit margin and return on equity show a downward trend,and the enterprise's profitability is insufficient.In 2018,the company lost nearly 1 billion yuan.(5)the growth rate of operating income and net assets both showed negative growth,and the growth capacity of the enterprise was insufficient.The financial impact of tax evasion incident of star shareholders on tangde film and television company is studied in this paper,which enricces the research contents related to the characteristics of shareholders and corporate finance,and expands the research perspective of the impact of negative events of shareholders on closely related companies.It provides new ideas for tax supervision departments to strengthen supervision.It provides new enlightenment for the film and television media companies to carefully select the shareholders and consider the binding relationship with the shareholders.It is very important for investors to choose investors carefully.