Research On The Influence Factors Of Goodwill Impairment Of Listed Companies In The Media Industry

In recent years,there have been a large number of mergers and acquisitions in the capital market,and listed companies have increased the market value of enterprises through mergers and acquisitions,but mergers and acquisitions is a double-edged sword,with goodwill impairment risk.Since 2017,the impairment of goodwill of listed companies in China has seriously troubled the stock market.The impairment of goodwill shows a large-scale outbreak.Some listed companies often suffer a impairment of more than one billion yuan or even several billion yuan.From the industry,media industry due to the characteristics of light assets,many early m&a case,is also a goodwill impairment of the hardest-hit areas,serious impact on the development of media industry listed companies,and even caused negative influence on our country's economy development,therefore,in urgent need of attention problems of the media industry listed company's goodwill and goodwill of the media industry listed companies needs influence factors in-depth analysis and put forward the corresponding prevention countermeasures and Suggestions of goodwill,to reduce the media industry production of goodwill,promote industry development.Based on this,this article in the media industry of the listed company goodwill problem as the research object,the first combed the research involving the relevant concepts and theory,on the basis of the goodwill of the media industry listed companies present situation has carried on the thorough analysis,and goodwill in the media industry serious animation games and advertising marketing two child section and two typical cases of listed companies,the god of entertainment company thereof cloud technology companies,and analyze its m&a,the influence factors of goodwill and goodwill impairment,through the typical cases in the perspective of the entire media industry goodwill influencing factors,Finally,it puts forward the countermeasures and Suggestions for media listed companies to prevent goodwill impairment.Through analysis,this paper draws the following conclusions:(1)Affected by the macro economic environment and the characteristics of the media industry in the early stage,the growth rate of the media industry will decline,mainly manifested as:revenue growth will slow down,goodwill impairment outbreak;The receivables of listed companies are mostly concentrated in the medium scale,and the number of listed companies with losses increases.Gross margin decline,asset-liability ratio rose.For the goodwill of the listed company in the early stage of merger and acquisition,there is a great risk of impairment.(2)The media industry is the industry with the largest amount of goodwill impairment in 2018.The problem of goodwill impairment is very serious,which is specifically reflected in listed companies'concentrated testing of goodwill impairment and relatively high amount of goodwill impairment.From the perspective of the industry,animation games and advertising marketing are the two sub-sectors with the largest amount of goodwill impairment.(3)The influencing factors of goodwill impairment of listed companies in the media industry mainly include external factors and enterprises' own factors,among which,external factors mainly include the formation of a large amount of goodwill caused by m&a boom,tightening supervision of the media industry and inadequate external supervision of goodwill,etc.;The influencing factors include strategic planning,m&a valuation method,accounting earnings manipulation and performance commitment fulfillment.(4)Through the further analysis of typical cases,the factors of the enterprises with impaired goodwill mainly include the lack of rational strategic planning,the high valuation of the underlying assets,the manipulation of earnings management and the business defects after the merger and acquisition.Therefore,this paper suggests that listed companies in the media industry should carry out rational strategic planning,make reasonable valuation of the target before merger and acquisition,strengthen the government level and internal supervision of earnings control,and scientifically evaluate performance commitment and compensation agreement,so as to reduce the risk of goodwill impairment.This paper aims to analyze the influencing factors of goodwill impairment of listed companies in the media industry through typical cases.For the media industry,it can summarize the reasons of goodwill impairment through case analysis,measure the risk of goodwill impairment,and reduce the impact of goodwill impairment.