| In recent years,the rapid development of cultural media industry,rapid growth.Relevant departments of the state has also issued relevant policies,efforts to promote the reform of the cultural media industry,cultural media industry development prospects.With the rapid development of cultural media industry,the expansion of capital channels,to ensure the healthy development of enterprises,the market is a new requirement for cultural media companies.In China’s capital market to open up funding channels,there are two main ways to market,one is the IPO listing,the other is backdoor listing.Because of the particularity of cultural media industry,as well as the advantages of backdoor listing,backdoor listing by the corporate culture media blitz,through cultural media enterprises backdoor listing is increasing and so is of great value for the study of backdoor listing.Based on the theories of the backdoor listing,combined with the characteristics of cultural media industry,select the backdoor listing of cultural media industry enterprises in 21 companies as the sample,the descriptive analysis,the study finds: backdoor culture media company,enterprises continue to increase,rising momentum;in the backdoor listing the pattern,mainly in the private placement,equity transfer agreement and the replacement of assets as the main means of operation;the backdoor listing is mostly concentrated in the economically developed areas,residents living level is higher and the rich cultural resources of the provinces.Based on the research of culture media enterprises listed on the overall situation of the backdoor,the Great Wall television backdoor Jiangsu Hongbao case,and then proceed to the analysis from the specific case,the parties to the transaction transaction background,through the event study method,financial index method and EVA analysis method of combining three methods based on the Great Wall television(GWM)financial performance analysis,found that after the backdoor listing of shareholder wealth grew rapidly,the market for backdoor listing gave a positive reaction after the backdoor listing companies change in profitability,solvency and operational capacity of EVA,showing a rapid growth.In short,the backdoor listing for the enterprise has brought a positive effect,the value of theenterprise has been increased.Through the analysis,combined with the knowledge,finally puts forward related suggestions about corporate culture media backdoor listing,in order to provide a certain reference value,the development of the cultural media enterprises backdoor listing on the same time,the article from small and large,discusses the backdoor listing of the impact on the capital market. |
