An Analysis Of The Motivation And Performance Of M&A In Cultural Industry

The 13 th Five-Year Plan of our country points out that the vigorous development of cultural industry can help our industry to realize and promote economic development.Based on the broad development prospects of cultural industry and the huge potential market conditions,in order to achieve their own industrial upgrading and development,quickly occupy the market,more and more cultural enterprises hope to achieve the above goal through mergers and acquisitions.Based on the results of M & A performance,current market environment and national policy,this paper draws the conclusions and suggestions of this case,and provides some lessons for future M & A events in cultural industryThis paper first introduces the research background and significance of the article,respectively from the M & A motivation,M & A performance as well as cultural enterprises M & A motivation and performance three aspects of the relevant literature at home and abroad,and the cultural industry,M & A,M & A performance related concepts and M & A motivation theory.Secondly,it summarizes and collates the present situation of cultural industry development and M & A.Then the author introduces the case of online M & A in M & A culture and Chinese,including the introduction of M & A parties themselves and the process of M & A.This paper also explores and compares the motivation of two M & A events.Then the two cases are analyzed and compared from the financial and non-financial perspectives.It mainly uses traditional financial index method and non-financial analysis to analyze the long-term impact of M & A,and then evaluate its performance.Finally,the conclusion of this paper is drawn,and recommendations are made accordingly.Through the analysis,the performance of the M & A is not ideal,Chinese online cross-border M & A Chenke performance is OK.After the merger and acquisition,both sides have a large amount of goodwill impairment preparation behavior,corporate profits also decreased.The cultural industry M & A is mainly vertical M & A,and the payment method usually adopts cash payment.Its motivation is mainly the following four points: one is to perfect the layout of the industrial chain,the other is to integrate the IP resources in depth,the third is to reduce the threshold to enter the new industry,and the fourth is to form a synergistic effect.Finally,combined with the industry and enterprises,put forward their own four suggestions: first,pay attention to the integration problem after M & A;second,treat the phenomenon of high premium of M & A carefully,choose the correct value evaluation method;third,pay attention to the impact of M & A on enterprise strategy;fourth,the government needs to actively guide the external environment of cultural industry and M & A behavior.