本文關(guān)鍵詞： 并購 并購動因 并購績效　出處：《河北經(jīng)貿(mào)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：近年來,我國社會經(jīng)濟不斷發(fā)展,我國居民物質(zhì)生活水平不斷提高,人們對精神文化的消費需求也隨之增長,影視行業(yè)在此背景下得以快速發(fā)展。影視行業(yè)在經(jīng)過初期的發(fā)展階段后,開始通過并購重新配置資源,進行產(chǎn)業(yè)整合。各大影視企業(yè)紛紛進行并購活動,并且由于影視企業(yè)固定資產(chǎn)投入相對較小,賬面值不高,企業(yè)的品牌、聲譽、媒體資源、客戶資源等無形資產(chǎn)不能在賬面體現(xiàn),所以影視企業(yè)大量存在高溢價并購的現(xiàn)象,那么,影視企業(yè)大量進行并購的動因有哪些、并購后績效如何,值得深入研究。為實現(xiàn)戰(zhàn)略轉(zhuǎn)型,打破單一的業(yè)務(wù)模式,擴展業(yè)務(wù)范圍,打通影視產(chǎn)業(yè)鏈,華錄百納于2014年以25億元并購藍色火焰,其中逾20億作為商譽納入合并報表。本文以華錄百納并購藍色火焰為例,采用案例分析法,對2014年華錄百納并購藍色火焰的動因和績效進行研究,以期為華錄百納和其他影視企業(yè)提供借鑒,豐富影視行業(yè)并購的研究成果。本文首先對研究背景、意義進行闡述,評述并購動因和績效已有的研究成果,總結(jié)了我國影視行業(yè)的發(fā)展?fàn)顩r及并購情況,分析了影視行業(yè)并購現(xiàn)狀、并購特征和并購動因,繼而展開對華錄百納并購藍色火焰動因與績效的研究。通過對華錄百納并購的研究,發(fā)現(xiàn)此次并購實現(xiàn)了并購雙方的戰(zhàn)略整合,雙方的內(nèi)容制作、媒體和商業(yè)客戶資源將進一步共享,形成影視、綜藝、體育多元業(yè)務(wù)共同發(fā)展的新格局,打通傳媒產(chǎn)業(yè)鏈。但是,此次并購對企業(yè)的盈利能力產(chǎn)生了負(fù)效應(yīng),并且在一定程度上損害了股東財富。在總結(jié)案例的基礎(chǔ)上,本文認(rèn)為,為達到并購預(yù)期的效果,影視企業(yè)應(yīng)明確并購目的,避免盲目并購,同時要加強對無形資產(chǎn)的評估,達到并購真正的目標(biāo)。
[Abstract]:In recent years, China's social and economic development, our country's residents' material living standards continue to improve, people's demand for spiritual and cultural consumption has also increased. In this context, the film and television industry has been developing rapidly. After the initial stage of development, the film and television industry began to reconfigure resources through mergers and acquisitions to carry out industrial integration. And because the fixed assets investment is relatively small, the book value is not high, the enterprise's brand, reputation, media resources, customer resources and other intangible assets can not be reflected in the book. Therefore, a large number of film and television enterprises have the phenomenon of high premium M & A, so, what are the reasons for the mass M & A, and the performance after M & A is worth further study. In order to achieve strategic transformation. Break the single business model, expand the scope of business, open the film and television industry chain, Hualubeina in 2014 with 2.5 billion yuan M & A Blue Flame. More than 2 billion of them are included in the consolidated report as goodwill. This paper takes Hualubeina M & A Blue Flame as an example and uses case analysis to study the motivation and performance of Hualubana M & A Blue Flame in 2014. In order to provide reference for Hualubeina and other film and television enterprises, enrich the research results of M & A in film and television industry. Firstly, this paper expounds the background and significance of the research, comments on the causes and performance of M & A research. This paper summarizes the development of film and television industry in China and the situation of M & A, analyzes the current situation of M & A in film and television industry, the characteristics of M & A and the causes of M & A. Through the research of Hualubana M & A, it is found that this merger has realized the strategic integration of both sides and the content production of both sides. Media and commercial customer resources will be further shared, forming a new pattern of multi-business development of film and television, variety arts and sports, and opening up the media industry chain. However, the merger and acquisition has a negative effect on the profitability of enterprises. On the basis of summing up the cases, this paper believes that in order to achieve the desired results of mergers and acquisitions, film and television enterprises should clear the purpose of mergers and acquisitions to avoid blind mergers and acquisitions. At the same time, we should strengthen the evaluation of intangible assets to achieve the true goal of mergers and acquisitions.
【學(xué)位授予單位】：河北經(jīng)貿(mào)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F271;F832.51
，

本文編號：1489317