Research On Valuation Methods Of Mergers And Acquisitions Of Listed Companies In Cultural Industry

Since 2009,the state council and other departments have issued a series of policies,including the guidance on financial support for the revitalization and development of cultural industry,to vigorously support the development of cultural industry.Due to the large proportion of intangible assets in the cultural industry,the traditional financial valuation method cannot fully evaluate their value.However,as the source of the value of cultural enterprises,intangible assets are of self-evident importance.Therefore,in this context,this paper expects to study the value of intangible assets of listed companies in the cultural industry by using non-financial methods,so as to make up for the defects of traditional valuation methods,and further improve the m&a valuation method system of cultural enterprises.Based on the predecessors' research results,build the innovation ability and core competitiveness as well as the ability of sustainable development theory as the theoretical basis of cultural enterprises intangible assets evaluation system,the system contains specific human capital,such as intangible assets share 9 secondary indexes,and on May 24,2016 to 2019 on May 24,the cultural industry of listed company merger and acquisition data as the foundation,has carried on the index of correlation test,and USES the BP neural network to the system rationality inspection.Finally,through the test of BP neural network,this paper determines the rationality of the system,and combines it with the traditional valuation method to form a more complete valuation system of cultural enterprise merger and acquisition.This paper studies the value of intangible assets in the m&a of listed companies in the cultural industry by using the non-financial valuation method,which is different from the traditional valuation method used to evaluate the enterprise value,and the valuation system proposed in the end of this paper is more perfect.The proposed system aims to enrich the theoretical and empirical research on the value evaluation of listed companies in the cultural industry,help investors and managers better understand the value of cultural enterprises,and further improve the capital market.