Study On Motivation And Performance Of Chinese Publishing And Mass Media Enterprise M & A

In recent years,M & A activities of publishing media enterprises have become more and more active,both in order to adapt to the state's readjustment of the national economic structure and to seize the unprecedented opportunities for expansion.In China's publishing media industry,the success and failure of the co-exist.Under such a background,this paper discusses the particularity of M & A in China's media companies by combining the theories of M & A motivation,which will provide effective theoretical and methodological support for the publishing media enterprises in China to meet the new round of M & A activities.The article takes the listed companies which mergers and acquisitions in the media industry as the research object,analyzes the motivation and characteristics of the M & A of the listed media companies from the aspect of the main acquirer,and also qualitatively analyzes the influence of these factors on the M & A performance.At the same time,this article mainly chooses the performance index which is suitable to evaluate the publishing media enterprises,constructs the M & A performance model and makes empirical research on the M & A performance of listed media listed companies by factor analysis.This article will publish the media listed companies M & A performance evaluation of the year is divided into the year before mergers and acquisitions,mergers and acquisitions and mergers and acquisitions the year after these three years of performance through factor analysis derived comprehensive score by comparing scores to observe the publication of media listed companies Changes in performance before and after the merger.The empirical results show that the performance of most listed M & A listed companies with listed M & A declines in the year after M & A,and the performance of a small proportion of M & A firms increases,but the effect of the mergers and acquisitions is not obvious.This shows that the publication of listed companies to carry out mergers and acquisitions did not bring the desired results.This article has some reference to China's listed media companies through a series of operations such as the operation of the capital market and the integration of acquisitions in order to adapt to the market and transformation strategy.At the same time,this article also analyzes some problems existing in the process of the IPO of the media listed companies and gives the corresponding suggestions.