Research On The Application Of Option Pricing Method In The Evaluation Of Culture Media Enterprises’ Value

Since the 21 st century,the economy had a deep development,people’s demand for spiritual satisfaction has become stronger,and the emphasis on the cultural industry has reached an unprecedented height.During the "Twelfth Five-Year Plan" period,the central government indicated that the rapid development of the national economy cannot be separated from the promotion and promotion of the cultural media industry.At the same time,the "Decision of the CPC Central Committee on Several Major Issues Concerning Comprehensively Deepening Reform" was adopted again by the Third Plenary Session of the 18 th Central Committee.The important strategic position of the cultural industry to the country is clarified.With the help of economic and national policies,China’s cultural media industry has shown a good momentum of development in recent years.There are more and more cases of mergers and acquisitions,mergers and acquisitions,and even listings in the industry.In recent days,the case of Huayi Brothers’ huge acquisition of Dongyang Mela has become the focus of the industry.The huge commercial reputation of 1.047 billion yuan has also become a hot topic of discussion among the public.Therefore,how to evaluate the value of cultural media companies is becoming more and more important.However,in view of the particularity of the products and services of cultural media companies,what kind of value assessment methods are suitable for cultural media companies is worth exploring.This paper starts with the basic method of enterprise value assessment,and analyzes the characteristics of cultural media enterprise assets to summarize the composition of cultural media enterprise value.The author believes that in view of the characteristics of light assets,high risks and highly uncertain income of cultural media enterprises,the traditional methods of value evaluation such as cost method,market method and income method have great disadvantages in evaluating cultural media enterprises.At the same time,this paper refers to the Assets Appraisal Association "Guidelines for the Evaluation of Intangible Assets of Cultural Media Enterprises" and "Notice on Printing and Issuing the Guidance Opinions on the Evaluation of Real Options"(Trial),and then explores the superiority of the option pricing method in the evaluation of the value of cultural media enterprises.And applicability.Finally,this article takes Huayi Brothers as an example,uses the above assessment method to evaluate the corporate value of Huayi Brothers,and compares the evaluation results with the market value of the enterprise.The author believes that the value of real options is important for the value of cultural media enterprises.As a component,the real option method has a significant role in assessing the value of cultural enterprises.At the same time,this paper considers the difficulties and problems in the evaluation process,and makes some adjustments to the model and evaluation ideas.Therefore,this article is not only the perfection of Huayi Brothers,but also other cultural media companies and even light assets industry.The value assessment provides a new idea.