Research On The Effect Of Premium M&A On Performance

As an important industrial sector in the national economy that the country has been focusing on promoting and supporting in recent years,the cultural industry is embracing an opportunity for development and prosperity.A wave of mergers and acquisitions has emerged in the industry.The high valuation and high premium in mergers and acquisitions accompanied by upsurge have aroused widespread concern in the community.This article based on the cultural industry,the choice of case analysis,analysis of the reasons for the merger and acquisition of cultural enterprises high premium phenomenon and its impact on the performance after the merger,to explore the existence of high valuation,high premium rationality for the future implementation of mergers and acquisitions in the industry Provide some thinking and inspiration.The dissertation discusses the causes of high-premium mergers and acquisitions,and at the same time uses statistical methods to describe the status quo of M & A in the cultural industry,the phenomenon of high premium and the characteristics of its samples.And taking Chinese media mergers and acquisitions as a case study,this paper analyzes the reasons for the formation of high premium in the case of mergers and acquisitions from the perspectives of mergers and acquisitions motivation,assets assessment status and mergers and acquisitions synergies.After that,it further explores the impact of high premium on the performance after mergers and acquisitions.From the market level and the company level,the M & A has a positive effect,which has a good effect on the long-term development of both M & A and M & A companies and is a successful M & A activity.Case study found that in order to adapt to the changes of economic environment,the transformation of cultural enterprises is imperative.However,the high valuation and high premium that exist in the M & A of cultural enterprises may have a negative impact on the M & A companies.For reasons of high-premium mergers and acquisitions(M & A),enterprises should pay attention to M & A activities in the following aspects: improving the pricing method of existing assets;attaching importance to the determination of M & A prices;choosing M & A enterprises rationally;and strengthening the risk management of M & A premiums.