Research On Financing Strategy Of H Company Under Enterprise Life Cycle Theory

Media industry belongs to the tertiary industry,and it is an important part of national economy in our country.Due to the dual nature of the media industry—political attribute and commodity attribute,the media industry has carried on the strict control.Although the media industry has a huge potential for development,huge profits return,but because of the particularity of the media industry,financing difficulties,financing unreasonable problem is also restricting China's media enterprises bigger and stronger an important factor.In recent years,scholars have paid increasing attention of the media industry's financial problems.However,most scholars analyzed financing of the media industry from single aspect,such as venture capital financing,listing financing and so on,few scholars combined with enterprise life cycle research media companies in different development stages of different financing strategies.Therefore,it is of theoretical feasibility and necessity to discuss the problem of financing choice of media enterprises from the perspective of enterprise life cycle,and to combine the research and application of two mature theories.This thesis summarizes the related studies,selecting the representative of our media company-H company as the object of the case,combined with the enterprise life cycle theory and finance related theory,by using the way of the combination of theory and case analysis,to H company adopted in different life cycle phase of different financing strategies for specific analysis.This article first overview the life cycle theory and the theory of financing;Secondly introduces the H company's life cycle stages and development course,and the financing strategy adopted by the different life cycle to make induction and summary.Then,it analyzes the financing strategy from the influencing factors,the financing behavior,the economic effect and the impact,and points out the adverse effects of the financing strategy.Finally,it draws the relevant enlightenment of the financing strategy,the adverse effects of the strategy to make relevant recommendations.The main conclusions of this paper are as follows:(1)Reasonable financing strategy can not only bring sufficient funds for the development of enterprises,and will not make enterprises face greater financial risk and loss of control of the enterprise;(2)Optimize the capital structure,enhance the enterprise value;(3)Equity financing can introduce strategic partners,promote the depth of cooperation and development.