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Research On The Improvement Of Value Evaluation Method Of B Culture Media Company In Mergers And Acquisitions

Posted on:2019-05-25Degree:MasterType:Thesis
Country:ChinaCandidate:L DingFull Text:PDF
GTID:2429330545473741Subject:Asset Assessment
Abstract/Summary:PDF Full Text Request
With the transformation of the Chinese economy and the continuous improvement of the capital market,mergers and acquisitions have gradually become a hot spot in China's economic growth.Looking at the M&A market in recent years,cultural media companies are particularly active.As an important part of the M&A process,the company evaluates the value of the target company,formulates a reasonable quoting strategy,and safeguards the interests of the M&A parties.Can it properly select the assessment method?The most important issue faced in the evaluation of business value.Based on a systematic review of the research on value assessment of cultural media companies,this paper compares the various assessment methods,analyzes theoretically their adaptation problems in the industry,and combines relevant cases of company B company valuation to clarify the value of the original case.The entire process of evaluation.It is found that there is a problem that there is a large error between valuation and actual acquisition price in the income method and cost method currently used.After analyzing the reasons,it is concluded that the market method is relatively a relatively suitable method.and then puts forward that the traditional market law still has deficiencies and mainly analyzes the market law in terms of comparable companies and value coefficients.The choice of value multipliers uses principal component analysis to analyze the value multipliers of the various sub-industries of the culture and media industry,the choice of comparable companies,and the similarity degree of the comparable companies is ranked using Haiming's closeness to the mathematical fuzzy method.The screening and empowerment were compared with the evaluation results of the improved market approach,and the differences and advantages of the market approach over the income approach in assessing B cultural media companies were concluded.The case study of adding the industry characteristics to the value of the company's business is added to the case study of the M&A valuation.The valuation of the cultural media companies is studied from the two dimensions of the basic value multiplier and the industry characteristic value multiplier.The research results have more industry research value and research depth..This article researches the evaluation methods of M&A value of cultural media companies,and provides some references and suggestions for Chinese cultural media enterprises to step into the standard market-based merger and acquisition.
Keywords/Search Tags:Culture Media, Market Approach, Value multiplier, Comparable coefficient
PDF Full Text Request
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