Research On Market Value Management Of China's GEM Listed Companies

In the early days,in order to be able to judge the effectiveness of the securities market after the split share reform,the market value management strategy was implemented.As time went on,it became a listed company to verify whether the market value of the enterprise and the enterprise value were unified.On this basis,we will analyze why there is a difference between the market value and the intrinsic value,and then make recommendations based on the differences,so as to enhance the market value of the enterprise.With China's economic construction becoming more and more powerful,China's society has already changed to a knowledge-based economy,and it calls for innovation to promote social development.The listing of the GEM is in line with this feature.The most indispensable is this highly innovative and high-tech company.In order to grow and develop,GEM listed companies must not only improve their management level,but also be inseparable from investor support.Therefore,their own investment value must be recognized by investors.The theory of enterprise management is continuously optimized,and the management of the company is no longer the former earnings management,but slowly shifting to the market value management.The company's goal is no longer the maximization of profit before becoming a company.Maximize the value.In the past,the company's management focused on the company's profitability.Since the implementation of market value management,the scope of corporate management has included indicators such as business operation efficiency,capital operation level and sustainable development capability.The problem that listed companies need to seriously consider in their efforts to improve their own corporate value and maximize the interests of shareholders is how to make the value of the company fully reflected in the market value.The market value management of listed companies is a strategic activity.It continuously analyzes the influencing factors of the market value of the enterprise,and then enhances the effectiveness of this factor,and finally fully reflects the intrinsic value of the enterprise.This paper mainly selects the case study method,takes the GEM listed company as the research object of this paper,summarizes the research content of the market value management of the main board by the past scholars,and then deeply explores the market value management content of the listed companies of the GEM,so that it can not only supplement It enriches the existing market value management theory in China,and also effectively expands the market value management theory of GEM listed companies.First of all,this paper has a large number of domestic and foreign literatures and journals on market value management descriptions,and then summarizes them.After fully understanding and learning the predecessors' research on market value management,it is found that there are some disputes about the market value management.The effectiveness of management and related impact factors can be further supplemented.Therefore,in the example analysis section,this paper lists several strategies for market value management to analyze whether it is effective or not,and then use this as a basis to explore the factors that really meet the characteristics of the GEM.I hope that in this process,I can The market value management of the GEM made some contributions;secondly,it introduced the concept and characteristics of the market value management of the GEM listed companies,and briefly described the three main links of value creation,value management and value realization of the market value management.Promoting and complementing each other,and expounding the motives for the market value management of listed companies on the GEM by targeting the small size of the GEM listed companies,the large market changes,and the high innovation and R&D investment;then taking the GEM listed company as a case To carry out a profiling process for its market value management,briefly introduce the basic situation of Sanju environmental protection and the background of market value management.The national policy,corporate financing,and motives for enhancing intrinsic value have become the main factors for Sanju Environmental Protection to conduct market value management for its own enterprises.Motivation and targeted investor relations,equity incentives,mergers and acquisitions,high transfer and increase the effective market value management means of investing in innovation,and finally the specific analysis of the effect achieved by Sanju Environmental Protection by means of market value management means,Sanjiao environmental protection in effective market value management means Under the circumstance,the growth of market value and the improvement of intrinsic value have been realized.The market value of enterprises has been growing steadily,and the intrinsic value of enterprises has also been recognized by investors and the outside world.In the end,it was concluded that Sanju Environmental Protection is a GEM listed company with successful market value management.Equity incentives,mergers and acquisitions and innovation investment are effective means of market value management.Reasonable and effective use of market value management means can significantly increase the market value of enterprises.Enhance the intrinsic value of the company,and then draw the inspiration that the GEM listed companies should focus on improving the intrinsic value of the company and driving the growth of the market value.The rise of China's market value management is not long.So far,Chinese scholars' exploration of market value management has gradually developed into a preliminary study of market value management,models,evaluation indicators and other related elements.This prompted China to pay attention to and pay attention to the market value management of enterprises,and constantly supplement and improve them.After consulting relevant materials and in-depth understanding and learning of the relevant theories of market value management,this paper selects Sanju Environmental Protection as a case to conduct research on the market value management of GEM enterprises,in order to get relevant conclusions and inspiration.The author believes that this has certain practical significance,not only can enrich and improve the theoretical basis of the market value management of the GEM enterprises,but also bring certain inspiration to the managers of the GEM companies and certain suggestions to the relevant institutional investors.The company's market capitalization can be obtained with a relatively reasonable valuation.