| Since the first wave of mergers and acquisitions in 1898 has been nearly 120 years of history,the United States as the representative of the Western companies have set off a wave of five mergers and acquisitions,each acquisition without exception,gave birth to a number of diversified business giant.Under the influence of the wave of world mergers and acquisitions,China’s acquisition began in 1984,Baoding Machinery Plant acquisition Baoding knitting equipment factory,although only 33 years of history,but mergers and acquisitions has become an important way for the expansion of China’s enterprises.Since March 2010,support for culture and business,culture and financial integration of the favorable policies have been introduced,especially with the "area along the way","Internet +","o2o",mobile Internet boom swept from the cultural enterprises M & A continued to accelerate.In the cultural enterprise M & A market in the number of mergers and acquisitions and the amount of "volume and price Qi Sheng" on the basis of,but also exposed such as overcapacity and a series of problems.Based on this,this paper defines the concept of cultural enterprise M & A and M & A performance,expounds the background of cultural enterprise M & A,and studies the present situation and trend characteristics of cultural enterprise M & A from the aspects of transaction quantity and transaction scale.The paper analyzes the performance evaluation system of China’s cultural industry listed company Huayi Brothers Media Group in 2002,from the perspective of synergies and the characteristics of cultural enterprises,through the use of factor analysis to analyze the case enterprises and then make a quantitative study on the performance changes before and after M & A.Finally,based on the analysis results of the M & A effect of the case enterprises,this paper summarizes the conclusions of this paper and puts forward some suggestions to improve the performance of M & A. |
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