The Effects of Market Value Management on Listed Companies in China

摘要

The reformation of equity-split on April 29,2005,has promoted market value management and its smooth progress has created the necessary conditions for market value management. With the purpose of stabilizing and enhancing corporate market value and realizing stockholders' wealth maximization,the market value management be comes especially important for all listed companies.This paper begins with the general introduction of market value management including its definition,contents and performance evaluation systems,appraises the best 100 market value management listed companies during 2007-2008. Secondly,this paper analyzes the benefits of the market value manage ment on the Guizhou Maotai which has gained great achievements on mar ket value management.Thirdly, this paper discusses how the listed companies'financial management objectives,performance evaluation sys tems,corporate governance,profitability,financing efficiency,merging, acquiring and restructuring are affected by the market value manage ments.Lastly,this paper points out the problems existing in firms' mar ket value management at present and makes some feasible suggestions for strengthening market value management.