A Case Study On The Market Value Management Of Letv

With the constant development and progress of Chinese capital market,the importance of market value management that is the hot topic of the capital market is accepted by more and more people.Although China has practiced market value management for ten years,a lot of listed companies are still not clear how to carry out reasonable and effective market value management to promote enterprises intrinsic value and show it on the market.The literature about the market value management content is not in the minority,while the studies about the effect of market value management means are very few.So the emphasis of this thesis is the analyses of the market value management effectiveness.Firstly,the thesis combs the market value management related literature,and elaborates the market value management theories in detail;Secondly,the thesis views Letv as the study object and introduces Letv market value management in different periods detailedly using literature study method,case method,event study method,financial index analysis method.Besides,the thesis focuses on analyzing the effectiveness of high stock dividend,merger and acquisition,and equity incentive.Among the analysis,the thesis analyzes high stock dividend method from several ways: the motivation,Letv stock price fluctuation,abnormal return,the changes of market value,and stock liquidity;The thesis analyzes merger and acquisition method from several ways: the value assessment of the acquired party,the mode of payment,Letv stock price fluctuation,abnormal return,the changes of market value;The thesis analyzes equity incentive method from several ways: Letv stock price fluctuation,abnormal return,the changes of market value,Letv equity incentive exercise conditions;Then,the thesis comprehensively analyzes Letv profitability index,growth index and Tobin Q index.After these analyses,the listed companies get enlightenment and relevant suggestion.In the end,this thesis gets the conclusion that using market value management means reasonably can improve the market value effectively.The purpose of this thesis is that it can offer ideas and reference to other listed companies when they implement market value management.