Evaluation Of The Cultural Media Industry Complay Based On EVA Valuation

The sustained and rapid development of the Chinese economy has brought great development of material wealth to the Chinese people.The cultural and media industry in China has also ushered in a new era.The cultural and media industry combines advanced science and technology to spread new ideas,Satisfying people’s spiritual needs with Innovation.Since 2006,the added value of China’s cultural media industry has continued to rise,and now it has become the rising industry in the information age.From 2005 to 2018,the average annual value-added of the cultural industry increased by 18.9%,which was 6.9 percentage points higher than the current average annual growth rate of GDP at the same period.The value-added of the cultural industry as a percentage of GDP increased from 2.15% in 2004 and 3.36% in 2012 to 2018.4.30% of the national economy has been increasing year by year,and its role in driving social economy has been further strengthened,which has become a new growth point of the national economy.The Chinese government also attaches great importance to the cultural media industry and has issued a series of support policies to help the development of cultural media companies.The culture media company itself has its unique value creation characteristics and business profit model.Its high added value and high growth characteristics make it popular in the capital market.In this context,there is a realistic need for scientific and accurate value evaluation of cultural media companies.However,cultural media companies have characteristics such as a high proportion of off-balance sheet assets and strong future income volatility.As a result,some commonly used evaluation methods are not applicable.The EVA model incorporates the cost of equity capital into the comprehensive cost of capital,and makes targeted accounting adjustments based on industry characteristics to calculate the after-tax operating industry profit,which more objectively and truly reflects the value of the enterprise,giving investors,operators,Regulators have more reliable information support.This article is divided into five chapters.Firstly,the research background and research significance,the theoretical results of EVA theory and the value evaluation of cultural media companies at home and abroad,the research ideas,research methods and basic framework of this paper are discussed.Secondly,it summarizes the theoretical basis of the EVA valuation model,analyzes the value creation characteristics and valuation difficulties of cultural media companies,and discusses the significance of cultural media company value evaluation.Thirdly,we take Caesars Culture Company as a case study object and use the case analysis method to analyze the factors that are closely related to the company’s value,such as industry characteristics,company strategy,and company operating status,to determine the value of the company and determine the value of EVA.Assume the relevant parameters of the evaluation model,and establish an applicable EVA value evaluation model for cultural media companies.Based on this,for the case company,based on the company’s disclosed financial data combined with relevant information,the company’s value was evaluated,and then the case company applied the EVA model to evaluate the effect of the valuation,and demonstrated the value of The rationality of the EVA model is followed by suggestions for improving the value management of the case company.The research shows that:(1)For internal managers of the company,the EVA model can objectively evaluate the performance of the company,better understand the value creation process of the company and the characteristics of value creation,which is conducive to improving value management and increasing the value creation efficiency of the company,thereby achieving Maximize company value.(2)From the perspective of investors,the EVA model is helpful for accurately measuring the intrinsic value of cultural media companies,understanding the company’s value creation mechanism,and helping investors make reasonable investment decisions.(3)For market regulators and the industry as a whole,the application of EVA model valuation can more accurately reflect the long-term value creation ability of cultural media companies,help regulators to monitor the market value management behavior of cultural media companies,and maintain the cultural media industry.healthy growth.