Market Value Management Of Chinese Listed Companies Study

Market value management is produced in the context of the completion of the split share structure reform in China,when the capital market gradually achieve full circulation of shares.It is the development and extension of Western value management in Chinese stock market.All shareholders of the listed company can obtain a higher premium by increasing the stock market value.The goal of the listed companies has changed from profit maximization to market capitalization maximization.The market value maximization becomes the goal which the enterprise manages diligently in the mechanism.In May 9,2014,the new "nine countries" clearly encourage listed companies to establish the market value management system.Market capitalization management has become a hot topic and management practice in China's capital market.However,the market capitalization in the mainland capital market management is experiencing a legitimate concept of illegal abuse of the situation.Therefore,this paper comprehensively and correctly understands China's capital market management confusion of the current market capitalization and thoroughly analyzes the connection and difference between "Pseudo market value management" and the real market value management.In China,the present references mainly study the connotation,influencing factors,model and framework,performance evaluation system,and so on.There are Large sample data researches and case study.These references let us understand the development of China's market value management and the use of market value management to improve the appearance of listed companies and how to practice the market value management from three angles of value creation,value management and value realization better.Therefore,on the basis of the correct understanding of the goal and significance of market value management,this paper puts forward the problems encountered in the practice of market value management in china.Then,this paper focuses on the analysis of the specific operation behavior under the guise of "value management" in the name of "grey operation" based on the case analysis.This paper constructs the framework from three aspects: the main forms of expression,the timing of key behavior and the market performance.It compares and analyzes the difference between the real market value management and "Pseudo market value management" so as to sum up a number of criteria for the reference of stakeholders.This study shows that the real market value management is mainly reflected in three aspects: value creation,value management and value realization from the main form of expression of market value management.“Pseudo market value management” often present “PE+ listed companies” investment model.Companies like this often announce the merger and acquisition program to meet the market's preference.Multiple violations like illegal disclosure,insider trading are intertwined.From choosing the timing of real market value management,listed companies often seize opportunities or challenges from the national policy or the development of the industry."Pseudo market management" often occurs in the timing of the general solution of restricted,or poor management of the company.Its main purpose is to prop up share prices.From the market performance,the listed company's share price will often be underestimated or overestimated.The goal of market value management is to guide the company's stock price fluctuation,in order to match its intrinsic value.“Pseudo market value management” often leads to significant fluctuations in stock prices because there is no intrinsic value of support.After the sharp rise,share price is followed by rapid fall.