| In 2005,the reform of shareholding split began to become popular in China’s capital market,which led to the full circulation of stocks.The shareholders’ and stakeholders’ evaluation criteria for value in the capital market gradually became more consistent.On this basis,market value was generated.The concept of management,Shi Guangyao first proposed the concept of market value management in the same year.Since then,the concept of market value management has been attracting the attention of listed companies in the capital market.The improvement of the market value management level must be based on the improvement of the company’s intrinsic value.Benchmark,listed companies can’t just focus on the company’s stock price increase in the market capitalization.This is only a superficial phenomenon.What’s more important is the improvement of the company’s intrinsic value and comprehensive quality.It uses a series of scientific and continuous management methods.Conduct market value management activities so that the company can continue to operate stably.Taking the concept of market value management as the main research object,in the context of the real estate industry,taking the market value management behavior of Vanke and Greentown China as an example,first analyze the market value,price-earnings ratio and financial status of the two companies in the capital market,and then from the value creation,The three processes of value management and value realization start with the exploration of the market value management process of the two companies.In the three processes of market value management,detailed proposals for improving the market value management of the real estate industry are proposed in turn.On the basis of this,combined with the case study of Vanke and Green City value management,the current case database on market value management has been enriched,and the harmonious development of the capital market has been accelerated to protect the interests of all stakeholders.According to the analysis of this paper,Vanke and Greentown have performed well in the capital market in recent years,and the reasons for the rising market value are:to continuously consolidate the development of core business,to implement equity incentives,to cooperate effectively with listed companies in other industries,and to establish a good relationship.Investor management culture,etc.;but there are also some problems in the relationship.Investor management culture,etc.;but there are also some problems in the process of market value management of the two companies:for example,ignoring the interests of small and medium investors,unreasonable shareholding structure,and excessively aggressive financing policies.Based on the existing theory,this paper analyzes the management activities of two listed companies in Vanke and Greentown China according to the three processes of market value management,and then puts forward relevant suggestions for other listed companies in the real estate industry:grasping the macro economy Policies,strengthen the core business of the enterprise,optimize the corporate governance structure,develop capital operations according to cyclical changes,attach importance to investor relations,and establish a systematic market value management system..After referring to the existing cases of the market value management case library and the theoretical research of the previous scholars,this paper systematically analyzes the market value management behavior of Vanke and Greentown.Based on the existing theory,this paper analyzes and summarizes the market value management again,and makes a case analysis of the market value management of the two companies,enriching the case database of market value management;on the basis of comprehensive research,this article The article puts forward suggestions on how to better promote the target companies to perform well in market value management activities,hoping to help other companies in the real estate industry to improve the market value management level. |
