The Choice Of Market Value Growth Strategy Of Listed Company

The tradable share reform,which began in 2005,was a new revolution in the capital market of China,it brought us a series of profound changes,the difference between tradable and non-tradable shares had been erased.Gradually,the main function of the capital market,value discovery and value promotion were properly repaired.As a new vocabulary in enterprise management,market value management came into being.When it came into the full circulation time of the stock market,as the most important means to maximize shareholders' interests of listed companies,the meaning and effects of market value management has been elevated to an unprecedented height.The size of the market value of listed companies itself has also become an important reversed factor affecting their developments,and the importance has become increasingly prominent.In the current stock market,including the various types of the controversial market buying phenomenon and the backdoor listing,the targets are all directed to small market value companies without exception.Not only those small-size companies,the relatively larger scale listed companies are also facing the rising demand for promoting the level of market value management,in order to help them stay in an invulnerable position through the wave of industrial integration and the same in the capital market,the Vanke Company which has been concerned by the market,is a recent good example.However,with the development of capital markets,the market value management means getting varied,not every listed company can make a successful choice of its market value growth strategy,and the simple rote can often lead to diametrically opposed results,and the company value will surely be adversely affected.So,we are required to make the precise choice for company value growth,when we confront the numerous tools.Firstly,this paper sorted out and summarized a large number of both domestic and foreign literature in market value,then based on the theory of market value management,summed up the meaning,framework and common tools of market value management,which makes the form of the basic theoretical part of this paper.The interval of the empirical study part begins from May 31,2010 to July 29,2016,and the Hikvision Company is selected as the research object,by means of study its market value growth condition and method since it been listed,this paper contributes a lot to further improve the market value management methods and effects for listed companies,especially for the large state-controlled ones in China.This paper also provides a number of useful suggestions and reference value in market value management.