The Research On The Market Value Management Of China

The capital of China began the campaign of Non-tradable shares in2005, when theshare-reform plan of SANY HEAVY INDUSTRY CO. was agreed by CSRC (China’sSecurities Regulatory Commission). Then all shares of SANY were circulated in thecapital market in2008, in which marked the beginning of the era of the full circulation andthe first year of MVM (Market Value Management). The theory of MVM was birth inChina and has been growing from then on. There are many research findings in this areawith the efforts of many experts and scholars who have the spirits of innovation. They havebrought up many creative findings of the MVM, which combined the situation of China.But how to locate the concept the MVM, the basis of it, the future trend, and the practice ofmanagement are hot topics what many experts and scholars are busy with now.This article had studied the market value and the intrinsic value from the necessity ofthe MVM in the Empirical way, and then proved the necessity and rationality of MVM. Itconstructed the initial system of MVM on the basis of practices and studies from the year2008. This article studied and analysis the content, the goal, the situation of practice andthe countermeasures of MVM, then make the scientific theory of MVM. It tried to create anew system of MVM from the certification of necessity and the goal. We analysis therelations between the market value and the intrinsic value with the econometrics means,and prove the necessity of MVM. Then discuss the contents, the problems and thecountermeasures from the value-road. This article summed up the theory of MVM researchand the practices, and then put up the primary view of MVM.