Research On M &A Performance Of Pan Entertainment Enterprises From The Perspective Of Structural Hole

In recent years,with the integration of cultural industry and Internet,the boundaries of various cultural industries,including literature,animation,film and television,games,music and other fields,have gradually blurred,and they have begun to link and integrate with each other with IP as the core to jointly build a pan entertainment industry chain.With the development and diffusion of Pan entertainment concept,more and more enterprises actively expand to the outside based on Pan entertainment strategy,and try to achieve the overall industrial layout of Pan entertainment with IP as the core.M & A cases occur frequently,but few of them succeed in creating pan entertainment industry layout,realizing resource integration and improving enterprise performance through M & A.This paper,from the perspective of individual research,chooses the Olympic entertainment industry chain successfully built by extension M & A to study.Through the comprehensive use of literature research,longitudinal single case study and performance evaluation methods,this paper explores the performance changes in the process of M & A,and introduces the special perspective of structural hole to analyze the reasons for the growth or decline of the M & a performance of aofei entertainment in the course of M & A expansion.Finally,how to avoid the future merger and acquisition of enterprises And the solution to put forward suggestions,hope to provide reference for the merger and acquisition behavior of the enterprise in the future or in the same industry.In this paper,the research background,research methods and research significance are described in detail.At the same time,the domestic and foreign literature related to M & A,M & a performance and structural hole are summarized to understand the current academic research status,and introduce the theoretical basis of this paper,so as to lay a solid foundation for the later analysis.Then it introduces the case company briefly,evaluates the M & a performance of the case company in detail through the traditional financial index method,economic value-added method and other indicators,determines the change trend of M & a performance of the case company,explores and analyzes the reasons for the change of M & a performance from the Perspective of structural hole,finds out the reasons for the change,and puts forward some suggestions on M & A Discussion.This paper analyzes the performance of M & A from the perspective of structure hole,and finds that the positive impact of the M & A on the performance of the enterprise in the early stage of aofei entertainment is that aofei entertainment can use the information brought by occupying the structure hole through adjusting its strategy.Second,the M & a behavior in the early stage of aofei entertainment has weakened its surrounding structure hole and reduced the "constraint" of other contacts The reason for the decline of the performance of M & A in the later stage of aofei entertainment is that on the one hand,frequent M & A behavior makes the information integration and utilization ability of the enterprise decline,on the other hand,most of the merged enterprises have not brought key resources to aofei entertainment.Therefore,this paper puts forward the following three suggestions: first,comprehensively evaluate their own capabilities and the structural holes around them;second,rationally determine the target enterprises;third,strengthen the integration of resources,especially the structural hole resources after M & A.This paper hopes that this case can provide reference for the future enterprises to build a pan entertainment industry chain through M & A,in order to reduce the risk of negative impact on their performance after M & A.