The Study Of Enterprise Value-based Investment Management Of SMC Co.Ltd

Sichuan mobile communication Co. Ltd (SMC) was setup in 1999, and was incorporated in China mobile (Hong Kong) group in July 2002. After being incorporated the company is facing the pressure of capital market and telecommunication market. The international capital market expect more shareholder value, and regard shareholder value as the standard of operating performance, in telecommunication market, the company take on the strong competitor. As we know the development of telecommunication industry is pushed by great deal of capital, under the double pressure what's the goal that Sichuan mobile company should insist in? What's the idea that directs its investment? The paper tries to answer the questions by the goal of enterprise value maximum and value-based investment managementThis thesis begins with the basic object of modern enterprise, then step by step,"we research why the investment management of company should be enterprisevalue-based, and from the primary approach to which added enterprise value weanalyze how to carry out the idea. Then we research several core problems inmanagement practice.Finally we give a case on china mobile (HK) group and its subsidiary company SMC Co. Ltd , in order to give more clear reference. The study will answer how we can carry out value-based investment management, how we can solve the problem ofcompetition and benefit, long-term benefit and short-term revenue, holistic benefit and partial benefit We create value for our shareholder; at the same time we will realize the maximum of enterprise so that we can keep the development of company continual.