Research On The Evaluation And Promotion Strategy Of Operation Performance Of Listed Companies In The Media Industry

With the continuous development of the network and technology,the media industry has received more and more attention as an emerging development industry.With the help of the Internet,its current development model is greatly different from the traditional ones,and its operation and management methods are constantly tending to diversify,and the consumer groups it faces are becoming more and more extensive,and the speed of development is really amazing.The sustainable and healthy development of the media industry is not only related to the dissemination and development of national spirit and national culture but also has an extremely close relationship with the country's economic development.Therefore,this paper studies the relationship between the operating performance of listed companies in China's media industry and some indicators at the equity level.It has certain theoretical and practical significance.In the production and operation of modern enterprises,the company's equity structure,as the basis for managers to govern the company,has a significant impact on the company's operating performance,internal governance mechanism and overall operating status.To study the specific impact of the media industry's equity level indicators on the company's operating performance,this paper collects the financial data of 59 media industry listed companies for 6 years as the samples for analysis.We mainly applied in this paper are the literature introduction method,the analysis of empiricism method factor analysis method.Firstly,the author reviews and browses through the literature on an equal level of some companies,which used domestic and overseas in the last few years,and makes a reasonable summary of these materials.Then,the company's performance is valued according to the comprehensive index analysis method,which mainly uses factor analysis to analyze 18 indicators in five aspects:the company's operating ability,profitability,solvency,cash flow management capacity and growth capacity to obtain the company's performance comprehensive performance score.Furthermore,by constructing a model with the comprehensive score of the company's performance as the explained variable,and taking the largest equity shareholding(CR₁),the top five shareholders'shareholding(CR₅),the Herfindahl-Hirschman index(HHI),and the balance of equity and turnover rate as independent variables,with the market capitalization(SIZE)and asset-liability ratio(DAR)as control variables to explore the influence of equity structure on company performance from three aspects:equity concentration,equity checks and balances,and equity liquidity.Four conclusions can be drawn from the data analysis.To begin with,it is concluded that among listed companies in the media industry in our country,increasing the degree of equity concentration within an appropriate range will improve the company's operating performance;Besides,there is a significant positive correlation between the degree of equity checks and balances of listed companies in the media industry in my country and the company's operating performance;Furthermore,excessively high asset-liability ratio(DAR)of listed companies in the media industry will reduce the company's comprehensive operating performance;Finally,the expansion of company size in listed companies in the media industry will have a positive impact on the company's overall performance.