A Research On Market Value Management Of Hainan Airlines Co.,Ltd

Since the Reform on Share Market in 2005,Chinese stock market came into the era of full circulation.Shareholders and managers began to pay close attention to the intrinsic value and stock market performance of the public company,and the concept of value management arise.Hainan Airlines is a typical stock of high speed growth among all stocks with a concept of airport navigation.In our research,we take Hainan Airlines as example,we made research on the market value management of listed companies,in order to make more public companies in our country have a more comprehensive understanding of a new management concept called "the market value management"· Then this can encourage public companies to reposition the concept of company value and the main business of the company,and more importantly,improve enterprise core competitiveness.Firstly,our article made a system review on the existing literature about market value management home and abroad.Secondly,on this basis,we not only took the actual situation of Hainan Airlines Co.,LTD.into consideration,but also combined the basic theories of market value management with the evaluation model related to our research,we designed a market value evaluation model for Hainan Airlines.Thirdly,from the perspective of two factors in the model,the value creation and the value realization,we analyzed the influence factors and problems of Hainan Airlines,which cause the market value of Hainan Airlines change.Finally,through our study,we have made an evaluation on the overall present situation of market value management of Hainan Airlines,and suggestions to enhance market value improvement have been put forward.Firstly,this paper reviewed the existing literature at home and abroad about market value management,the research results includes a few aspects,such as the definition of market value management,the content of market value management,the problems of the market value management for domestic listed companies,market value management model,the valuation theory,and the result and influencing factors of value management.Then,based on the facts of Hainan Airlines 's basic situation and the basic theory of value management,this paper analyzed the currrent situation,major achievements and existing main problems of market value management for Hainan Airlines,and further analysed the causes of these problems.Then,this paper summarized the successful experience of the market value management of three listed companies,the Cathay Pacific Airways,Lufthansa Airlines and China International Airlines.In the end,with reference to the experience of the three airlines,this paper put forward effective improvement suggestions from five aspects,aiming at solving the existing problem of market value management for Hainan Airlines.Firstly,strengthen the idea of market value management,and improve the system of market value management;Secondly,improve the level of financial management and the ability of value creation;Thirdly,do well on value realization,and enable the market value fully reflecting intrinsic value;Fourthly,do well on value management,and promote the company's sustained,rapid and healthy development;Fifthly;combine the market value management with social responsibility.