HC影视有限公司并购KD传媒的案例分析

发布时间：2018-03-01 02:22

本文关键词： 横向并购动因分析杜邦分析法绩效分析　出处：《哈尔滨商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：在我国,文化产业得到国家越来越多的关注和青睐,同时也受到大量国内资本和国际资源的期冀,文化领域的投融资也迅速兴起。随着行业的不断成长,行业中的各个企业逐渐选择并购重组的方式。而上市传媒公司具备最丰富的资本操作运行经验,收纳了最优质的文化产业资源,走在行业的前沿,是名副其实的先驱者。横向并购这一金融行为的价值并不只是对于企业的发展,更是对于企业所在行业的发展具有重要的积极推动意义。我国文化产业的推动,促使企业展开横向的并购,同时企业的联合发展,也为行业的发展提供动力。所以评说一个企业战略性并购的选择正确或否,可以从多个角度来考虑。一方面作为上市公司,可以从其价值开始进行估算,来对公司的价值做理性的判断和测算,以做决定投资与否,另一方面,必须从整个行业来看,分析其动因和并购事件对于行业发展的启示。市场经济成为主体,选择了和市场变化同步,形势趋同,众多上市媒体企业便都默契地选择多元化投资、各种网络平台合作、兼并、的战略发展计划。所以传统的影视传媒公司要如何应对机遇和挑战,本文拟通过HC影视公司并购KD传媒的案例,给传媒影视公司一些经验借鉴。本文第一部分简洁的介绍出了目前全球的影视传媒行业发展状态,以便能够更容易的了解影视行业的竞争构架。第二部分介绍了 HC影视有限公司和KD传媒的公司发展历史和基本成就,从中可以看出两者结合的原因和历史驱动的必然性,以便及时的对行业发展方向的变化做出应对。第三部分是选择了杜邦分析法,对HC影视有限公司的并购前后的财务数据进行绩效分析,不仅可以了解HC影视有限公司的财务状况,并且能够反映本次并购活动对企业带来的影响,直观的表达本次并购的成功与否。第五部分,总结HC影视横向并购KD传媒的过程中的经验,以供其他同行业的公司参考,并希望能剖析过程中出现的问题,以供行业内借鉴,最终实现推动行业发展的目的。在文化产业备受关注的今天,如何应对这个时代变化的风口,作为国内领军人物的HC影视有限公司,用实际行动表明自己的选择,为其他企业的发展发挥了先导作用。
[Abstract]:In our country, the cultural industry is paid more and more attention and favor by the country, at the same time, it is expected by a large amount of domestic capital and international resources, and the investment and financing in the field of culture is also rising rapidly. With the continuous growth of the industry, Each enterprise in the industry gradually chooses the way of M & A. while the listed media company has the most abundant experience in capital operation, has absorbed the best cultural industry resources, and is at the forefront of the industry. The value of the financial behavior of horizontal merger and acquisition is not only for the development of enterprises, but also for the development of the industries in which the enterprises are located. Encourage enterprises to launch horizontal mergers and acquisitions, and at the same time, the joint development of enterprises will also provide a driving force for the development of the industry. Therefore, it can be considered from a number of angles to comment on the correct or negative choice of strategic mergers and acquisitions of an enterprise. On the one hand, it can be considered as a listed company. We can begin to estimate the value of the company to make a rational judgment and measurement of the company's value in order to make a decision on whether to invest or not. On the other hand, we must look at it from the perspective of the whole industry. The market economy becomes the main body, the market economy becomes the main body, and the market changes synchronously, and the situation converges, so many listed media enterprises tacitly choose the diversified investment and the cooperation of various network platforms. Merger, strategic development plan. So the traditional film and television media companies how to cope with opportunities and challenges, this paper intends to buy KD Media through HC film and television company case, The first part of this paper gives a brief introduction to the current development of the film and television media industry in the world. In order to understand the competitive framework of the film and television industry more easily. The second part introduces the development history and basic achievements of HC Film and Television Co. Ltd and KD Media, from which we can see the reasons for the combination of the two and the inevitability of historical driving. In order to make timely response to the changes in the development direction of the industry. The third part is to select DuPont analysis method to analyze the financial data before and after the acquisition of HC Film and Television Co. Ltd. Not only can we understand the financial situation of HC Film and Television Co., Ltd., but also can reflect the impact of this merger and acquisition activity on the enterprises, and intuitively express the success of this merger and acquisition. Part 5th, Summing up the experience in the process of merger and acquisition of KD Media by HC Film and Television, in order to provide reference for other companies in the same industry, and hope to analyze the problems in the process, so as to provide reference for the industry, Finally realizing the goal of promoting the development of the industry. Today, when the cultural industry is receiving much attention, how to cope with the tuyere of the changing times, HC Film and Television Co., Ltd., as a leading domestic figure, has demonstrated its choice with practical actions. For the development of other enterprises to play a leading role.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：J943;F271

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