The Research On Earnings Quality Of Private Publishing And Listed Companies ——A Case Study Of COL

As socialism with Chinese characteristics enters a new era,science and technology continue to innovate,and macro-control policies are favorable,my country's cultural industry has developed and prospered,and the publishing industry,as an important part of the cultural industry,has also ushered in a stage of rapid development.As an important main body in the publishing industry,private publishing enterprises have continuously expanded their scale and further improved their industry status,becoming an indispensable and important force in my country's publishing industry.In recent years,due to the impact of the economic environment and the impact of the epidemic,the performance of listed private publishing companies has become polarized.Some companies' profits have risen against the trend,while others have continued to decline.Among them,listed companies are the weather vane and barometer representing the development of the industry.Therefore,this thesis takes the private publishing listed companies as the main body for research,and selects the more typical COL as a typical example,which will help my country's private publishing listed companies to walk out of the characteristic development path and drive the publishing industry to achieve high-quality development.After studying and summarizing the research methods and ideas of scholars at home and abroad,on the basis of a general introduction to my country's private publishing industry and private publishing listed companies,combined with their financial characteristics,this thesis focuses on profitability,stability,and cash security.From the four dimensions of stability and growth,12 financial indicators are selected to construct a profit quality evaluation system suitable for my country's private publishing companies,and the comprehensive score ranking of my country's private publishing companies'profitability is obtained.Through observation and analysis of the comprehensive score ranking of private publishing companies'earnings quality,in addition to deepening the understanding of private publishing listed companies'earnings quality,it is found that COL's comprehensive score ranking of earnings quality has jumped from the bottom of the industry for two consecutive years to the middle level.Therefore,based on the above research,this thesis will analyze and demonstrate the financial indicators of COL's earnings quality,and explore the common problems in the fluctuations of the earnings quality of COL and the entire listed private publishing companies from point to point.The main problem lies in Investment and acquisition are not prudent enough;revenue sources are not stable enough;sales expenses account for a high proportion;the scale of borrowing is relatively conservative.Combining these problems,put forward reasonable suggestions on the status quo of its profitability,that is,rationally choose investment projects and avoid blind investment;strengthen digital content value-added services and deploy overseas markets;strengthen cost management and control to improve business performance;appropriate use of financial leverage to enhance corporate value.