Study On Value Of Chinese Listed Film Companies

Since the beginning of the1990s, Britain, United States and some other countries have achieved the second take-off of economy through the development of Cultural and Creative Industries especially the film industry. So that countries have seen the tremendous role of Cultural and Creative Industries in promoting economic development. As enter the new century, accompanying the film institutional reform, China’s film industry has been developing rapidly. It has important theoretical and practical significance fo solve the film corporate finance problem, improve the value of filmenterprise to study the law of value of film and the changes in the value of film enterprise befor and after listed.The thesis comsists five parts:The first part is a whole introduce of this paper, its main contents include the background and significance of this topic, the theoretical foundation and existing primary literature research of this topic, research methods and organization of the content. Second part will make comprehensive analysis and discusses of the value of film enterprise from the theoretical aspects. This part includes three topics:the realization value law of film products and film business and valuation model for the film company. Study on the first two questions laid a theoretical foundation for the valuation model. Main concent of the third part study is dynamic mechanism for move companies listed, characteristics of listed film enterprise and the mode of a film company how to list. The mode of a film company to list consists of listed ways, listed location and range of assets listed. The theory of movie compnies listed and value of movie enterprise will be combined in fourth part. It maily dicusses how listing impacts various factors made of the value of film enterprise at the empirical t and theoretical aspec. There are summary of the full text and outlook on future research at the fifth part.Value of listed film is a topic that theory and practice close tightly. Althouth there has developed mature theory for film corporate finance and financing models abroad, Chinese film enterprise are different from the foreign ones at the aspects like the course of development, level of industrialization, management, environment and so on. So they can not copy the foreign film financing theory directly. Only make link between foreign theory of film enterprise’financing and China film companies’own development and social reality, then find the parts which suited China enterprise, innovate and develp the unsuited parts.Unique law of supply and demand for film prodecuts, characteristics of the value formation and special business mode are main factors that preserve and appreciate the value of a film company, and they decided film corporate can not solely rely on its own primitive accumulation. Our current financial system restriceted movies enterprises get funds for development through indirect financing to a certain extent. So that listing became an important way for a movie company to solve funding problem. Movie business grown and developed through listing is not only make good for film industry its own, but also make good to China’s spiritual civilization, change economic growth pattern, and enhancement of overall national strength.