Research On Market Value Management Of JR Company Based On The Stakeholder Perspective

From the beginning of the equity division reform,China’s stock market has gradually developed into the era of full circulation.Under such a specific background,many companies are faced with an urgent need to solve a problem,that is,how to carry out reasonable management and control of the company’s market value,and ultimately to achieve the company’s market value optimization.At present,most listed companies still follow the value-oriented management strategy based on shareholders’ interests when conducting market value management.However,a large number of studies have proved that other stakeholders besides shareholders have a significant impact on the performance of the listed company’s market value.In order to prove this,this paper starts from the perspective of stakeholders and re-analyzes the market value of listed companies.This paper defines the connotation of listed company’s market value,determines the research perspective and management objectives of market value management,selects the subject of the stakeholder to be studied in this paper,and classifies the above by organizing and suming up relevant research results of market value management theory and stakeholder theory.Based on the analysis,the paper builds a model of market value management innovation based on the perspective of stakeholders.In order to increase the effectiveness of the article research results,this article selects JR company as a case study company and analyzes the current management strategy in three major segments of market value management,including value creation,value management,and value realization.Then,the paper uses the economic value-added to analysis the company’s shareholder wealth creation ability and uses the four-quadrant analysis method to judge the company’s satisfaction for the effectiveness of various stakeholders.In addition,it also evaluates the relevance of intrinsic value and market value by contrasting the market value to the price-earnings ratio,the market-book ratio,and the market index.Afterwards,the paper judges the implementation effect of those market value management strategies based on the relevant analysis and finds out some problems existed in depth and comes up with the corresponding solutions.This paper combines theoretical research with case analysis to analyze the relationship between stakeholders and the market value of the company.Stakeholders make appreciation in market value by influencing the value creation,value operation,and value realization.Therefore,the market value management based on stakeholders is a more scientific and reasonable management concept.Under this concept,the ultimate goal of market value management is to achieve a reasonable market value premium and sustainable growth of the company’s own value on the premise of balancing the interests of all parties.This article re-deconstructs the market value management of Chinese listed companies from a new research perspective,which can provide a little help for the listed companies to improve the mode of operation and management level,and help the company continue to make breakthroughs and progress in value creation,value management and value realization.