Research On Financial Performance Evaluation Of A Share Culture Media Industry

Culture is flourishing,and country is flourishing.With the impact of the Internet on the traditional economy,the cultural media industry has attracted everyone's attention.As a new economic growth point,it has gradually become a pillar industry of the country.At the Fifth Plenary Session of the 15th National Congress,the cultural industry will be included in the national development plan.The 17th National Congress of the Communist Party of China proposed "promoting the great development and prosperity of socialist culture",and put forward cultural confidence and cultural prosperity.Cultural industry is bound to become a new growth pole for economic development in the future.After experiencing rapid development,the cultural media industry has gradually entered the adjustment period since 2016,and has entered a new stage of integration and change.It still maintains a growth rate higher than the average GDP.Therefore,it has a positive effect on economic growth.With the gradual strengthening of the state's supervision of the industry and the establishment of a perfect market system and complete market rules,the future cultural media industry will have a better development direction.Based on a review of domestic and foreign literature on the financial performance evaluation of China's cultural media industry,this paper finds that the methods used for financial performance evaluation are factor analysis,analytic hierarchy process,principal component analysis,and entropy method.These researches are based on a single method,but each method has certain disadvantages.Comparing these methods,this study found that the factor analysis method has the advantages of objectivity and unique results,and the entropy method has the advantage of objective weighting.By effectively combining the two methods,more objective results can be achieved,making the results of the comprehensive score ranking of each enterprise have reference value for the enterprise.The indicators for the financial of each enterprise have reference value for the enterprise.The indicators for the financial performance evaluation of the cultural media industry are mainly focused on the four aspects of profitability,solvency,operating capacity and development capacity,while ignoring the selection of non-financial indicators.The value creation ability of the culture and media industry is mainly based on intangible assets.The intangible assets of this industry are distinguished from other industries in that intangible assets mainly include copyrights,development rights,and event concessions,which are assets that can bring main business income to enterprises.Simultaneously,non-financial indicators have a significant impact on the financial performance of the current and even later periods.This study incorporates easily quantifiable non-financial indicators into the evaluation system.Therefore,this study uses factor analysis method,entropy method,and clustering method to evaluate the financial performance of listed companies in China's cultural media industry.In the selection of indicators,combined with the characteristics of China's cultural media industry and the theoretical basis of financial performance evaluation,14 financial indicators in five aspects were selected to build a financial performance evaluation indicator system.Then,the data of 47 listed companies in China's cultural media industry in 2016-2018 are taken as sample data.Using SPSS software,the comprehensive factor scores were calculated and ranked.Combine the clustering method to classify the companies in the industry,find out their advantages and disadvantages in the enterprise,and provide a reference for the enterprise.Finally,the results of all analyses are synthesized to make some corresponding suggestions to the industry and stakeholders.The following conclusions of the study:(1)At present,the culture and media industry in China presents an "olive" competition pattern,with different development trends for enterprises.(2)The five dimensions of cultural media industry evaluation show different status in the three years.(3)Negative changes in operating income growth have led to a lack of emphasis on human capital construction.(4)The overwhelming majority of listed companies in the culture and media industry with good financial performance are outstanding in value creation.(5)Insufficient technological innovation in the cultural media industry and lack of accumulation of intangible assets.According to the conclusions of the study,we provide suggestions for the entire industry and relevant stakeholders of the cultural media industry.