Share Repurchase: New Ideas, To Enhance The Intrinsic Value Of Listed Companies

As a general policy of dividend distribution and means of capital operation, share repurchase has important impact on corporation value, which is a way to reduce capital and adjust the equity structure of listed companies through buying its own stocks. As a way of equity contraction, stock repurchase involves capital structure and dividend policies of listed companies thus it can improve their internal stock value. But it is a new thing in our security market and it will bring the listed company a far - reaching influence. In this paper, we theoretically and empirically examine the relevance of share repurchase and corporation value. The results indicate that share repurchase has positive significance on the enhancement of corporation value.This paper is divided into five sections to explain mainly from the theoretical study and improving the value of a company of share repurchase: The first chapter, to introduce the thesis research background, significance, domestic and international research literature, research and research methods and so on. In chapter two, mainly introduce the concept of the share repurchase, classification and the common share theoretical hypothesis and theoretical model. In chapter three, the basic theories on share repurchase, in order to explore the internal mechanism of improving shareholders' wealth of the share repurchase. Chapter four is instance research of enhancing company's intrinsic value of share repurchase. Chapter five is empirical research of enhancing company's intrinsic value of share repurchase. As part of the final, conclusions and expectation were discussed based this paper.