Evaluation Of The Investment Projects Of News And Publication Listed Companies

Under the background of the new normal economic development,the news and publishing industry has become increasingly prominent in its strategic position due to its particularity.With the support of favorable policies,the scale of China's news publishing industry has been continuously expanded,and the industrial chain has been gradually improved.By the end of 2017,there were 39 news publishing companies listed in mainland China.However,some listed companies do not pay attention to the scientific demonstration of the feasibility of the project before raising funds.The implementation of the fundraising project is weak,resulting in inefficient capital allocation.Based on the above background,this paper studies the fundraising projects of listed companies in news publishing.Firstly,based on the "Prospectus" of the listed company and the "Special Report on the Deposit and Actual Use of Raised Funds",the relevant status of the current fundraising projects in the industry was sorted out and analyzed.Secondly,the coverage strategy was designed based on the analytic hierarchy process.Benefits,Investment Benefits,Project Risks,and Project Management:A comprehensive evaluation index system for the press and publication projects of the press and publication industry.Then,using the pairwise comparison method,the weights of the evaluation indicators at each level were measured through expert surveys,and the press publishing industry was established.Investigate the comprehensive evaluation model of the project;finally,take Z company as an example,analyze its main business situation,operation situation and use of raised funds,and combine the qualitative and quantitative methods to comprehensively evaluate the implementation of the fundraising project.The research results show that the implementation of the fundraising projects of listed companies in the news publishing industry mainly has the following problems:(1)Many news publishing companies do not make reasonable use of the funds raised.In addition to supplementing the working capital,the physical investment projects are slow and promised.Investment income is seriously mismatched;(2)Frequent changes in fundraising projects are not only not conducive to the long-term development of the company,but also not conducive to the transmission of correct funding demand signals to the market,thus having a negative impact on the resource allocation function of the securities market.In this regard,the following suggestions are proposed:(1)optimizing the design plan of the fundraising project and attaching importance to the project feasibility demonstration;(2)strengthening the fund management and improving the utilization level and income level of the idle funds;(3)accelerating the transformation of the traditional publishing business Upgrade and carry out innovative fundraising projects under the background of media integration to achieve organic integration of economic and social benefits.The main contributions of this paper are as follows:(1)combing the implementation status and existing problems of the fund-raising projects of listed companies in the press and publication;(2)constructing a comprehensive evaluation model for the fund-raising projects of the press and publication industry;(3)Case studies were conducted on Z company 's fundraising projects,and suggestions were made to improve the quality of fundraising projects in the press and publishing industry and the efficiency of the use of raised funds..There are 3 figures,18 tables,and 53 reference articles in this paper.