Research On The Development History Of Value Management

In China, VBM (value based management) as a new concept of corporate and financial management is widely used in many corporate. Meanwhile, there are some researches on the VBM. The most scholars think that VBM is good for corporate's sustainable development. However, it is not clearly about some basic problems, such as what is value based management, what are the original theories of value based management. So far, the mature theory of VBM has not formed.No one theory can be made without foundation. It must be the development of some traditional and famous theories. So, VBM must be founded on the some original theories, which has special development history. Researching on many more famous thoughts, we could fonn the mature theory and increase the value of enterprises.The article is mainly on standard study. First, the part analyzed the background and the significance of value management, and summarizes the present situation of value management research both domestic and foreign. Secondly, the three parts are the most important of the whole research. These three parts introduce the process of value based management. There are four stages:basic theory; the development of basic theory; theory formation; the development of theory. In every stage, the article introduces the main theories in detail and the impaction on the theory of value management. The last part of the article give two cases:value management based on EVA, value management based on BSC. This part analyzed the application in corporate finance and made some forecast about the application prospect of making EVA and BAC together.