The Impact Of Media Industry Payment On The Financial Performance Of Corporate M&A

M&A has become a powerful and effective means for enterprises to rapidly expand and enhance their competitiveness under the increasingly fierce industry competition.Under the favorable situation brought by the reform of the policy system that promotes the integration and upgrading of the cultural industry in China,since 2013,the media industry,which is an important part of the cultural industry,has been constantly innovating under the wave of new media,and the development momentum is good.M & A The number of incidents has also grown rapidly.With the increase in the number of M & A events,the correct choice of payment method is an important factor in whether M & A can create wealth for enterprises.Therefore,when choosing the payment method in M & A,we should carefully consider whether to choose a single payment method or a mixed payment method.So,how can companies choose payment methods in M & A to achieve better M & A performance?This paper first introduces the research background,research significance,and reviews the research status of domestic and foreign scholars on the impact of payment methods and the impact of payment methods on M & A performance,and then elaborate on related concepts and theoretical basic knowledge.The factor analysis method is used to measure the performance of mergers and acquisitions,and the regression analysis is used to study the impact of different payment methods on the long-term performance of M & A in the media industry.The results show that during company mergers and acquisitions,non-cash payment methods are more conducive to post-merger financial performance than cash payment methods.Improvement or slowing performance decline.Then,two Huayi Brothers M & A cases were selected to study the impact of different payment methods on M & A performance,and the reasons were explored to conclude that the non-cash payment performance of the media industry is better than cash payment.Finally,based on the analysis,I made three suggestions to the enterprise: first,based on the actual financial situation and management capabilities of the enterprise,formulate a selection method of payment methods that meets the development of the enterprise;second,the media enterprise should refer to advanced foreign experience,Avoid choosing a single cash payment method,giving priority to non-cash payment methods;third,actively expand corporate financing channels,improve company financial transparency and integrity,and actively seek a platform for state-owned enterprises to provide guarantees for companies,by issuing corporate bonds and securitization And other ways to finance enterprises.This will provide a reference for the media industry to select a payment method for M & A in the future.