The Research On The Influencing Factors Of The Market Value Management Effect Of Listed Companies In China's Manufacturing Industry

In May 2014,the State Council issued the "several opinions on to further promote the healthy development of the capital market”,clearly encouraging listed companies to establish a market management system.Value management is not only beneficial to the realization of the enterprise value maximization,also will be good for the healthy development of capital market.For now,however,some listed companies in our country have many misunderstandings on the connotation of the value management,and unfamiliar about the market value management measures.Therefore,studying the market value of listed company management in-depth is very necessary.This paper uses the value management effect evaluation system to measure the effect of market value management,which is released by the value of China's listed companies management research center,then through studying the principal component analysis and the assignment method,calculate the value of management effect of composite scores.Then select variables from five aspects in manufacturing listed companies in China stock market value management factors,which are affecting the structure of the corporate governance,private placement,the investor relations management,management incentive and capital structure rationality,through carrying on the empirical research,the author found that the independent directors of listed companies and the proportion of directional issuance scale are not significant effect on the value of management performance;Ownership concentration and equity balance degree,executive compensation,executive equity incentive compensation ratio and whether having gold medal chairman,these indicators have a significant positive effect on market value;Asset-liability ratio has a significant negative effect on market value.The purpose of this paper is to help clear the connotation of the value management of listed companies,and find the most effective way to manage the market value,which is suitable for manufacturing listed companies in our country,then put forward the suggestions and comments in market value management for listed companies in China,so that companies can realize the long-term development and create great value for shareholders.