Research On The Abnormal Goodwill Impairment In M ＆ A Of Online Game Listed Companies ——Taking Ourpalm Co.Ltd. As An Example

With the support of national policies and the increasing market competition,M＆A has become one of the important means for enterprises to transform,upgrade and expand their scale.M＆A is also a double-edged sword.While enhancing the competitiveness of enterprises,the high goodwill brought by M＆A premium also lays a hidden danger for the future development of enterprises.Especially in the game industry,as a typical asset light industry,the risk of huge goodwill impairment is often accompanied by "overestimation,high premium and high performance commitment".This paper studies the abnormal impairment of goodwill after continuous M＆A of Ourpalm Co.Ltd.and the reasons for the impairment of huge goodwill,and puts forward optimization suggestions from the perspective of enterprise managers and government supervision,in order to provide reference for other enterprises with huge goodwill and small and medium-sized investors in the market and help them make better decisions.This paper uses the research methods of case analysis,literature analysis and comparative analysis.Firstly,by studying the relevant literature at home and abroad,this paper combs the research results of the essence of goodwill,goodwill impairment and the causes of impairment,and expounds the relevant theoretical basis,so as to provide theoretical and technical support for the case analysis of this paper;Secondly,it introduces the industry situation and basic situation of the case company,combs the formation process and impairment process of Ourpalm Co.Ltd.goodwill,and analyzes the source of huge goodwill.Then,on the basis of relevant theories,this paper puts forward four abnormalities in the impairment process of zhangqu Technology: first,continuous mergers and acquisitions have brought huge goodwill to zhangqu technology,and the proportion of goodwill in total assets in 2015 was as high as 70%.Second,Ourpalm Co.Ltd.stood still when there were many signs of goodwill impairment,and had not accrued goodwill impairment for many years.Third,Ourpalm Co.Ltd.made a one-time provision for goodwill impairment of RMB 3.38 billion to clean its performance.Fourth,Ourpalm Co.Ltd.has insufficient disclosure of goodwill impairment.In view of the above four abnormal problems,this paper expounds the reasons for the abnormal impairment of goodwill from the perspectives of false high initial recognition of goodwill,creating opportunities for major shareholders to reduce their holdings and cash out,internal and external pressure and failure to strictly implement relevant standards.Finally,it puts forward countermeasures and suggestions for four problems from the perspective of M＆A enterprises and government supervision.This paper studies the abnormal impairment of goodwill in M＆A of online game listed companies,provides reference suggestions for asset light enterprises to prevent the risk of impairment of goodwill in M＆A,and provides decision-making basis for regulators to formulate more reasonable M＆A and goodwill impairment policies.