A Study On The Goodwill Of Aiglas’ Successive Mergers And Acquisitions

With the continuous development and reform of China’s economic and financial markets,national government departments have successively promulgated a series of policies and measures on mergers and reorganizations,and companies have chosen to merge and promote enterprises to conform to the development trend of market economy,support companies to increase market share and enhance the company’s core strength.In just a dozen years,the total number of enterprises in the media industry has increased rapidly,and most companies have expanded their scope of operation by completing the coverage of the upstream and downstream of the value chain and constantly acquiring and restructuring.However,the media industry is also prone to high premiums in M&A activities,and China has gradually implemented new accounting standards since 2006,and implemented an impairment method for the subsequent measurement of corporate goodwill,so as to calculate the company’s goodwill value more fairly.However,a large amount of goodwill loss is not conducive to business operations,which has subsequently triggered concerns about a huge goodwill bubble in the investment market.In this context,the basic theories related to goodwill,including market synergy theory,earnings management theory,information asymmetry theory,etc.,are specifically combined to study the problems arising from the impairment of business reputation in specific cases from several levels and angles,and make an in-depth analysis of the problems caused by goodwill impairment in corporate mergers and acquisitions,and finally put forward targeted countermeasures.Based on the situation notes and case studies,this chapter focuses on the basic status of cooperation between the two parties to the merger,the background of the acquisition and the composition of the goodwill of the acquisition,the financial status of the enterprise after the acquisition and the impairment of the goodwill of the acquisition.The case study first studies the deep-seated causes of goodwill impairment after M&A from multiple aspects,such as incomplete information on goodwill impairment data before mergers and acquisitions,excessive proportion of fixed assets occupied by goodwill,and failure to make impairment provisions on time in the case of impairment of goodwill.Then,according to the event research method,the stock market performance of goodwill impairment is analyzed,and the financial indicators with strong significance are selected from four aspects in turn,and then the performance of enterprises after case mergers and acquisitions and reputation impairment is analyzed.The results show that listed companies are affected by a significant impairment of goodwill.After analyzing the reputation impairment of Aglas’ four acquisitions,the main conclusions are as follows:(1)The loss of goodwill impairment of Agras was not recognized in time,and the disclosure of goodwill and impairment was only based on the disclosure of the financial statements,and the correctness of the goodwill impairment could not be determined.(2)The high-risk reputation generated by high valuation,high premium,and high performance commitment is an important factor affecting the impairment of goodwill after the acquisition of Agras.The imperfect performance commitment of the target company,coupled with the impairment detection indicators and many defects in future calculations,increases the possibility of the company’s goodwill impairment.(3)According to the analysis of the results of the Agras acquisition,several acquisitions only have a buffering effect on the company’s operation,and cannot fundamentally alleviate the company’s operation problems.(4)The goodwill impairment test method has many drawbacks,and it is necessary to optimize the impairment test method.The article also conducts research based on the IASB’s latest changes in goodwill impairment regulations and explores the impact of the new changes on enterprises.Finally,this paper provides policy opinions on improving the establishment of relevant standards and improving the release and supervision of relevant accounting information,so that the research results of this paper have corresponding practical significance.