Research On M&A Performance Evaluation Of Chinese Internet Video Enterprises

Since the development of the Internet video industry,the growth of the industry and the huge wealth behind it have been verified by facts and widely recognized.In the fifteen years of reviewing the development of the industry,the number of companies participating in the competition has been greatly reduced,from the early400 to more than 20 today.However,the slowdown in competition has not made Internet video companies profitable,and almost all companies are still struggling with losses.In order to get out of the dilemma of input over output as quickly as possible,Internet video companies have also actively tried various methods,and mergers and acquisitions are one of them.In theory,corporate mergers and acquisitions can quickly improve the competitiveness of enterprises and promote the rapid development of enterprises,but in reality they have had little effect.In the past decade,the mergers and acquisitions of Internet video companies have been unsatisfactory,and the profits are far from being expected.This article uses the fact that mango hypermedia has achieved profitability after mergers and acquisitions as an entry point.It attempts to explain part of this general corporate loss,and then explores the motivations of industry mergers and acquisitions and the perspective of reasonable evaluation of their merger performance.Provide constructive advice on future M & A options and healthy development of the video industry.This article is divided into seven chapters,the main contents of each chapter are as follows: Chapter 1,Introduction.This chapter mainly introduces the background and significance of M&A performance research in the Internet video industry,clarifies the research purpose of this article,and expounds the research framework and research contributions;Chapter II,literature review.This chapter purposely sorts out the research on the development difficulties and optimization paths of the Internet video industry in recent years,and summarizes the research results of domestic and foreign scholars on the motivation and performance of M&A in cultural media,online video-related industries;Chapter III,industry status analysis.This chapter is based on the classification of horizontal mergers,vertical mergers,and hybrid mergers and acquisitions,supplemented by specific case descriptions,summarizing the characteristics and current status of different types of mergers and acquisitions in the industry,and laying the foundation for the case analysis in Chapter 5;Chapter 4,Construction of the Evaluation System.This chapter traces the source of the characteristics of the Internet video industry and explores the main factors that hinder the development of the industry.Based on this,it analyzes the reasons for the frequent occurrence of industry mergers and acquisitions,and then combines the analysis of the industry mergers and acquisitions motivations to build an indicator system for enterprise merger performance evaluation;Chapter 5,case research This chapter briefly introduces the overview and transaction process of the two parties in the research case,and combines with the theoretical analysis in Chapter 4 to obtain the main motivation for the merger;Chapter 6,Performance Evaluation.This chapter takes the evaluation system constructed in Chapter 4 as a benchmark,selects appropriate financial and nonfinancial indicators for the four dimensions of expanding scale,reducing costs,seeking financing,and achieving diversified operations,and comprehensively evaluates the performance of this merger;Chapter 7,Conclusion and enlightenment.Based on the analysis and elaboration in Chapter 6,this chapter draws the relevant conclusions of the case of mango hypermedia merger and reorganization,summarizes the experience and deficiencies of the paper,and extends the conclusions to the entire Internet video industry.Related revelations and suggestions.The main contributions of this article are:(1)In-depth analysis of the motives of frequent mergers and acquisitions in the Internet video industry.The evaluation of M&A performance also revolves around the motives of mergers and acquisitions.It has a strong contrast with the motives and uses more features that fit the Internet video industry.Evaluation of non-financial indicators,enriching the evaluation perspective.(2)Combining the characteristics of the industry and the current status of the company's development,this paper analyzes the case of mango hypermedia reorganization from the perspective of strategic transformation,and explores the reasons for its successful transformation and profitability,providing a reference for the future mergers and acquisitions and development of the Internet video industry.