Research On Valuation Of New Media Animation Enterprise In China

With the transforation of China’s economic development and the improvement of people’s living standard, more and more attention has been paid to the development of cultural industry. As a part of enterprise culture, the new media animation enterprises have immeasurable potential and prospects for development under the background of cultural industry getting support and encouragement by the state and government. In the the process of industrialization, new media animation business is bound to face a lot of financing, listing,mergers and acquisitions, restructuring and other economic activities in the capital market. As a servicer to the economic activities, the asset appraisal industry should pay more attention to the characteristics of the new media animation enterprise evaluation and assess the value of new media animation business more reasonably. Scientific and reasonable evaluation of the new media animation enterprise value not only helps to enhance the animation enterprise value, and promote the healthy development of the animation industry; at the same time also helps to enrich the national spirit and cultural life and promote the prosperity of cultural undertakings in China.Many new media animation companies are new startups which are favored by its market growth. Many new media animation companies set some have not yet formed a stable cash flow and the future development is uncertainty. Using income method alone is not fully reflect new media animation business enterprise value. Aiming at the problem of income method in the evaluation of new media animation enterprises, in this paper, we first review the theory of enterprise value assessment and the status of China’s new media animation enterprise based on the literature through the analysis of domestic and foreign research status to clarify the content of the study. Secondly, discusses the theory of enterprise value evaluation systematically, including evaluation content, evaluation purpose and method, which gives prominence to the research focus of enterprise value assessment. Then, analysis the characteristics of new media animation enterprises, new media animation and influencing factors of enterprise value and new media animation enterprise value evaluation of particularity, compares the various assessment methods advantages and disadvantages fully and analyzes the applicability of these methods in the assessment of the value of new media animation enterprises, choose the income method as a new media enterprise value evaluation and the introduction of improvement and perfection of the real option. Finally, under theguidance of the real option method, combined with the enterprise free cash flow discounting model and B-S Option Pricing Model, the model is applied to assess the value of M & A case of new media animation enterprises, it is verified that the discounted free cash flow model based on real options in the new media animation enterprise value evaluation is scientific and reasonable.