Research On Financial Performance Of MCN Institutions Under The Head Online Celebrity Scandal

With the continuous development of digital media,the short video and live broadcast industries are gradually accepted by the public because of their advantages such as low production threshold,simple content generation method and meeting fragmentation time.The huge group of short video users provides a guarantee for the development of China’s MCN industry.The short video content scene is applicable to video platforms such as Tiktok,Kwai and BiliBili,and promotes the diversified development of MCN industry.In recent years,online celebrity anchor "overturned" with goods or brand spokesperson scandals have occurred frequently,causing widespread negative public opinion and damaging corporate reputation.According to the cognitive structure transfer theory,even personal scandals unrelated to the company’s business operation will have an impact on investors and other stakeholders,and ultimately have an impact on the company’s value.Therefore,it is very important to prevent and deal with the losses caused by scandals.This paper selects RH holdings as the research object.Y is the founder and image spokesman of RH holdings,and half of its main business income comes from the clothing brand operated by y.This paper first uses the excess return method to analyze the short-term market reaction.Secondly,it uses the DuPont analysis method and the financial index analysis method to analyze the performance of RH holdings in the past four years and the changes in performance after the scandal.Finally,the economic value added method is used to analyze the actual benefits of RH holding capital investment.After analysis,the scandal led to a significant decline in RH Holdings’ financial performance,which was mainly due to two reasons:first,the enterprise relied too much on online celebrities and lacked a role or system to check and balance them;The second reason is that the transformation speed of income sources is slow,and the anti risk ability of the asset self operation mode is worse than that of the asset platform mode.Based on the evaluation results of RH holding’s various capability indicators,this paper puts forward corresponding suggestions in order to provide some help for the development strategy choice of enterprises and the same industry.