Research On Investment Of Listed Press And Publication Companies In China

Generally viewing at the development path of Chinese press and publishing companies,it began with the restructuring of enterprise from nationalization to privatization.The restructuring of enterprises has enabled Chinese traditional press and publishing units to learn and establish a management system that is more compatible for the modern market.The internally rooted traditional and decentralized organizational structure gradually developed towards a horizontally and vertically integrated modern company management system.The reform continued until 2004,when the first press and publishing company was successfully listed.The successful listing meant that the Chinese press and publishing industry had opened its door to the capital market and set the stage for capitalistic powers to transform and upgrade the industry.In recent years,the upgrading of Internet technology and digital technology has provided more technical support for listed press and publishing companies to develop new business models.In the cultural industry of which press and publishing belongs to,general media emerged,Barriers between industries gradually broke apart,and the entire cultural industry was pushed into a wave of integration.Capital is like a key,that can open the door to technology and the doors between different industries.In order to strive for more living space and not be eliminated by the capital market under this context,the use of capital to pursue the transformation and upgrade of business and profit models has become the strategic focus of listed press and publishing companies.In the internal development of capital operation strategies,Chinese listed press and publishing companies have gradually increased their investment in internal technological research and development,while broadening their external investment horizons.Turning their sight to new industries and services as well as developing new products.However,investment often contains risks.Investment strategies that are not suitable for a company's development or does not meet the ideal investment expectations will directly affect its revenue and even its long-term development.Therefore,reasonable investment and scientific risk management are key to the successful optimization of capital allocation.These are also issues that Chinese listed press and publishing companies need to consider over the long run.This paper examines listed Chinese press and publishing companies to quantitatively study and analyze their investment strategies and outcomes through the use of literary research,financial analysis,and empirical analysis based on the modern enterprise theory,industrial organization theory,and strategic management related theories.The main body of this paper studies the evolution process of investment,based on market and policy backgrounds and main events,of listed Chinese press and publishing companies since they entered the capital market.The paper breaks down the evolution process into three stages: preliminary testing,transformation and upgrading,and deep integration.This evolution is mainly the result of changes in external and internal factors.Furthermore,using the financial analysis method and publicly disclosed financial indicators of listed Chinese press and publishing companies as the source of data,the paper investigates and synthesizes the current investment and situation of these companies through both macro and micro perspectives,including the overall market size,efficiency,and profit levels.It can be observed from the data that vertical and horizontal differences still exist within the industry.Concurrently,listed Chinese press and publishing companies hold certain advantages in its investment as indicated by its investment returns.This advantage stimulates the ability of investment subjects to innovate and resist risk while playing a role in creating externalities and brand alliance benefits.Nevertheless,profits and risks co-exist,and investment of listed Chinese press and publishing companies still possesses risks on the market,technology,management,and financial levels.In closing,this paper will consider and put forward suggestions on how listed Chinese press and publishing companies can improve investment returns through scientific investment management from the perspectives of prospective reserves and decision-making,mid-term monitoring,and overall strategy.