Construction And Empirical Study On The Market - Oriented Management Model Of Large Information Technology Enterprises In China

IT industry has been developing rapidly by the government strongly supporting and good marketing environment. A group of large-scale IT enterprises that are outstanding in theirs’ s segments rise sharply in market competition. At the same time, China financial system and stock market are well-development over the years. Most of enterprises which in mature stage require stock system reform in order to join the capital market for equity financing. Then the goal of enterprise management has changed from the business operation to the maximization of shareholder profit, which becomes the market value management with going public on stock market.In order to cater to large-scale enterprises’ needs above, this paper reviews the relationship of corporate governance and business development, realizes that the intersection of stock system and capital market is company market value, and regards company market value as the core of modern business management, which is the historical origin of this paper’ research significance. This paper follows the market value theory and company management theory to build theory foundation of market value management model. Therefore, this paper expounds market value theory system from capital market aspect and company valuation aspect at first, secondly takes large-scale IT enterprise’s management market value management apart to several management dimensions, lastly finds implied causation to construct theory basis of large-scale IT enterprise market value management model and introduces SEM to argument the reasonability of this causation. So, this paper’s technical route is that making model by SEM. This paper also demonstrates that stock price means market value and financial index means company management are quantification methods of large-scale IT enterprise market value model. In conclusion, company management theory, capital market theory, company valuation theory and accounting theory are the theoretical and practical foundation of Chinese large-scale IT enterprise market value.In empirical aspect, This paper constructs large-scale IT enterprise market value management using the indicator system which is filtered by multi-factor analysis model from large-scale IT enterprise management theory and practice, makes an empirical analysis by using Chinese a-share companies’ annual report data and gives the proposal of large-scale IT enterprises’ market value management in strategic management front and specific management front on former basis.