Research On The Application Of Improved Market Method In The Valuation Of Mergers And Acquisitions Of Film And Television Companies

In order to follow the call that building the cultural power,the government release a lot of cultural support policies,then,much money flow in the market,which stimulate the economy of cultural industry strongly.With the advent of the era of big data,the rise of short videos and major platforms has promoted many emerging media products,greatly expanding the contact with the audience and enhancing the communication effect.In order to meet people’s demand for the spiritual world,the cultural media industry has flourished,the capital operation of major film and television companies has accelerated,the economic activities between companies have increased,and a large number of mergers and acquisitions,joint ventures,backdoor listings and other behaviors have emerged.Therefore,it is necessary to value the enterprise to ensure the normal progress of the transaction,promote the optimization of market resources,and ensure the interests of all parties.Many scholars in China’s evaluation community have improved the evaluation method and introduced various mathematical statistical methods,which are suitable for evaluation in various industries.However,the valuation of film and television enterprises is relatively small,and most of them improve the income method.In practice,appraisers usually use the market method and the yield method to evaluate and test each other at the same time,but the difference rate varies in size,so in order to reduce the difference in results,this paper improves the market method.The article is roughly divided into five parts,the first two of which introduce the background of this article and the basic theory on which it is based.The middle two entities introduced the value characteristics of film and television companies and how to improve the market law.The method introduced is to use the entropy method to select financial indicators that reflect all aspects of the enterprise,process each indicator in a dimensionless manner,calculate the weight of each indicator,and then use the weight to calculate the progress of the haiming paste of the comparable company and the target company,and select the three most similar enterprises.Then the value chain is introduced to analyze the driving factors of the value of film and television enterprises,select multiple factors as indicators,use several sample listed companies to calculate the comprehensive value multiplier of multiple indicators,and finally correct the comprehensive value multiplier to obtain the evaluation results.Finally,an M&A case was selected to test the improved model,and the result was that the improved market method was practical for the valuation of film and television enterprises.This paper introduces the entropy value method and value chain analysis,innovates the original market method,and provides new ideas for evaluation.The improved method solves the problems existing in the traditional market method to a certain extent,hoping to enrich the theoretical content and provide reference for the evaluation practice.