Research On The Motivation And Economic Effect Of Assets Stripping Of Zhejiang Daily Digital Culture

In recent years,as one of the methods of asset reorganization,divestiture has gradually been welcomed by the practitioners,and more and more listed companies have implemented divestiture.Asset divestiture is often referred to as the reverse process of mergers and acquisitions.Listed companies can reduce their business scale by implementing asset divestiture.If it is to divest non-performing assets externally,it can also reduce the burden on the company,optimize the allocation of resources,and improve the operating efficiency of the company.What is the motivation for the company to implement asset divestiture? Whether the divestiture will have an impact on the economic effect of the company is a question worthy of our attention.Therefore,this article selects the Zhejiang Daily Digital Culture as the object of the case study,and uses its asset divestiture in 2017 as the research starting point.Using event research method,traditional financial indicator analysis method and EVA analysis,combined with the relevant theories of asset divestiture,research the motivation and economic effects of Zhejiang Daily Digital Culture ’s asset divestiture.This article summarizes and sorts out the domestic and foreign literature related to asset divestiture,and selects the relevant theoretical basis on this basis.This article sorts out the related concepts of asset divestiture,and takes the asset divestiture of Zhejiang Daily Digital Culture as a case study event,the implementation plan,process,method,type,motivation,result and economic effects of the asset divestiture.detailed introduction.In addition,it also introduces the evaluation and analysis methods used in the study of the economic effects of the asset divestiture of Zhejiang Daily Digital Culture.It is hoped that through the study of the cases in this article,the theoretical research of domestic asset divestiture can be enriched,and at the same time,it can also provide valuable reference for the subsequent implementation of asset divestiture behaviors in the same industry.The article consists of six parts.The first part is the introduction,which mainly introduces the research background and significance of this case,and then sorts out domestic and foreign literature studies related to asset divestiture,and then recommends the research details,ways and thoughts of the full story.And the basic framework,and finally elaborated on the innovations of this article;the second part is the theoretical overview of asset divestiture,mainly explaining the concept and theoretical basis of asset divestiture,as well as the evaluation methods used in subsequent analysis of economic effects;the third part is the case introduction of Zhejiang Daily Digital Culture’s assets divestiture.First,it introduces the basic situation of Zhejiang Daily Digital Culture in more detail,then describes the implementation plan of this asset divestiture,and then introduces the implementation process and implementation methods of the asset divestiture;The fourth part is the motivation analysis,which analyzes and summarizes the motivations of Zhejiang Daily Digital Culture’s assets divestiture from both internal and external levels;the fifth part is the analysis of economic effects,using event research method,financial index method and economic value added analysis to evaluate the impact of asset divestiture on the corporate market effects,financial effects,non-financial indicators and economic effects;the sixth part is based on the conclusions and enlightenments drawn from the previous analysis,and gives corresponding suggestions.