Research On Value Evaluation Of Cultural And Creative Enterprises Based On AEG Valuation Model

As my country's economy enters a new normal,the people's quality of life is gradually improving,and the people's pursuit of a better life has changed from material to spiritual needs.In order to meet the people's growing spiritual consumption needs,the state has issued a number of policies to increase support for the cultural industry.The "Law of the People's Republic of China on the Promotion of Cultural Industries" recently issued by the General Office of the State Council proposes to guide cultural enterprises to innovate business models and promote the structural adjustment and layout optimization of cultural industries.As an emerging industry in the cultural industry,the cultural creative industry has developed rapidly in recent years.With the advent of the digital economy era,new development models such as "cultural +" and big IP production have also been formed,bringing huge economic benefits to the industry.However,while bringing more benefits to the industry,investors and stakeholders are also paying more and more attention to the accuracy and scientificity of the value evaluation of cultural and creative enterprises.The uncertainty and risk of the profitability of cultural and creative enterprises are impaired.The evaluation of enterprise value brings great challenges.How to construct the value evaluation system of cultural and creative enterprises has become a problem studied by many scholars.This article selects WM companies with cultural and creative nature as the research object,and innovatively uses AEG valuation model to evaluate WM companies' corporate value.The article starts with the classic theory of value evaluation,leads to the related theoretical research of AEG valuation model,and analyzes its principle and applicable environment.Then introduce the concept of cultural and creative enterprises and their valuation characteristics,combined with the scope of application of the AEG valuation model,analyze the applicability of the model to cultural and creative enterprises,and sort out the implementation framework of the AEG model for cultural and creative enterprises.After introducing the Perfect World case,through a simple introduction and performance analysis of the company,we began to construct a Perfect World AEG valuation model,and established a hypothetical system,and finally calculated the enterprise value under the "three-stage" AEG valuation.Then compare the valuation results under the EVA model through a comparative test,and obtain the effect evaluation of the AEG model's superiority to other models,and propose corresponding countermeasures to the company.In the end,conclusions were drawn from three aspects through the case: a.The calculation results of the AEG valuation model can more accurately reflect the corporate value of WM,and its intrinsic value is lower than the market value;b.The core value of the cultural and creative industry lies in intellectual property rights,and enterprises need to pay attention to the research and development and acquisition of this resource;c.The AEG valuation model is applicable to the cultural and creative industry,and the use of this model can make objective and accurate judgments for the intrinsic value of such enterprises.And get the following enlightenment from three perspectives: a.From the perspective of cultural and creative enterprise managers,the AEG model can enable companies to avoid short-term behavior,improve corporate governance structure,reduce unnecessary costs,and strengthen cultural and creative enterprise value management;b.From the perspective of investors,the AEG model can help them improve the rationality of investment decisions,reveal the source of investment value,analyze industry development trends,and make their investments more objective and rational;c.From the perspective of market regulators,the AEG model is conducive to supervising the company's market value Manage,examine the ability of corporate value creation,and maintain the scientific nature of capital pricing for cultural and creative enterprises.