The Impact Of Private Placement On Market Value Management

With the introduction of the new "National Nine Articles",the market value management of listed companies in China has entered a new stage of standardization and institutionalization.Pursuing the maximization of corporate value and establishing a business management model centered on market value management has become the management theory and management practice of listed companies.One of the mainstream directions of development Market value has not only become the latest benchmark for measuring China's capital market,but also has become the most important business target and corporate strategy-oriented behavior of listed companies.The private placement is the main way to refinance China's capital market,and it is also an important means of market value management.Whether private placement can bring positive impact on the market value management of listed companies,and how it affects it Based on the above background and problems,this paper uses case analysis to conduct a detailed and specific study on the case of Qingdao Haier's private issuance of KKR,and explores the impact of private placement on market value management.It provides certain ideas and references for the listed company to adopt the private placement strategy for market value management and market value enhancement.This paper starts with the background and problems of the research,reviews the existing research literature from the perspective of market value management and private placement,defines relevant concepts and theories,then analyzes the impact mechanism of private placement on market value management,and introduces the market value management performance of listed companies.Evaluation system and method,then briefly summarize the issuer,subscriber and transaction in the case of private placement,based on the impact mechanism and path,around the three aspects of market value management-value creation,value management and value realization,combined with related finance The index analyzes the value creation and value management status of Qingdao Haier after the private placement,uses the event research method to analyze the effect of market value after the private placement,and finally uses the market value management evaluation system to target the home appliance industry and the market value management after the private placement of Qingdao Haier.The performance status was scored,and the comprehensive impact of private placement on market value management was analyzed,and relevant research conclusions and inspirations were obtained And it may provide theoretical and practical basis for various economic entities such as investors in the capital market and listed companies.