| 论传媒的整体上市 |
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| 引用本文： | 曾凡斌.论传媒的整体上市[J].科学．经济．社会,2010,28(4):149-154. |
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| 作者姓名： | 曾凡斌 |
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| 作者单位： | 暨南大学新闻与传播学院,广东广州510632 |
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| 摘 要： | 整体上市是指一家公司将其主要资产和业务整体改制为股份公司进行上市的做法。辽宁出版传媒选择整体上市不仅有着深刻的政策背景,也是我国传媒资本经营的必然发展。整体上市来源于对剥离上市的扬弃,剥离上市不可避免地引发了大量的关联交易,而不公允的关联交易会给传媒上市公司带来风险。本文以辽宁出版传媒为例,分析了其上市前后的财务资料,并且将其与A股的其他传媒上市公司的财务资料进行对比分析,发现辽宁出版传媒整体上市后,在经营绩效等方面都有一定的提高,产生了有效的市场效应,辽宁出版传媒在资本运营效能上优于传媒板块其他上市传媒公司。本文还对传媒整体上市做出展望,指出传媒整体上市只是为解决自身体制机制问题提供一个平台,整体上市之后传媒企业如何利用资本市场机制改变原有的低效率现象,有效解决公司治理问题,还有待进一步的研究。
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| 关 键 词： | 传媒产业 整体上市 关联交易 |
Comment on the Overall Listing of Media |
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| ZENG Fan-bin.Comment on the Overall Listing of Media[J].Science Economy Society,2010,28(4):149-154. |
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| Authors: | ZENG Fan-bin |
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| Institution: | ZENG Fan-bin(Journalism and Communication College of Jinan University,Guangzhou 510632,China) |
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| Abstract: | An overall listing refers to the practice of a company transforming its principal assets and business as a whole into a stock company.It not only has a profound policy background,but is the inevitable development of media capital management in China that LiaoNing Publishing and Media selects overall listing of its business.The overall listing originates from the solution of the spin-off listing,and triggered a large number of related-party transactions inevitably,but impermissible related-party transactions will bring about risks to media listing companies.This paper takes LiaoNing Publishing and Media for example,analyses its financial data during cross-listing,compares with the financial data of A-share media listing companies,and finds out that after its overall listing,it improves certainly in terms of business performance,and its market effect is effective.LiaoNing Publishing and Media is superior to other listing media companies in this field in the capital operating performance.This paper also proposes the prospects of media overall listing,points out that media overall listing is only to provide a flat for solving the problem of system mechanism itself.It is worth to researching farther how the companies change the existed low efficiency phenomenon using the capital market machanism,and solve the company management problem effectively. |
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| Keywords: | Media Industry Overall Listing Related-Party Transactions |
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