Research On The Legal Issues Of Market Value Management And Share Repurchase Of Listed Companie

At present,market value management share repurchase system of listed companies is an important institutional arrangement in company law.Market value management,as a concept legitimized by the authorities,has an important function of boosting stock prices and stabilizing the confidence of the capital market through its direct or indirect purpose of share repurchase,which has shown a very powerful role in maintaining stability in previous financial crises.In relatively mature capital markets outside the region,the market value management share repurchase system of listed companies is relatively perfect.Through this system,listed companies can realize the complex economic value,such as optimizing the company’s capital structure,improving the efficiency of economic operation,implementing the company’s share incentive and maintaining the stability of the capital market.Comparatively speaking,the development of our capital market is not mature yet,and the share repurchase system and its safeguard mechanism need to be further developed.This paper is centered on the discussion of the market value management share repurchase system of listed companies in our country,the introduction part of the topic selection background and research significance of this question is key introduction,expounds domestic and foreign literature review and research methods;The first part explores the basic problems of laws and regulations on market cap management share repurchase of listed companies in order to clarify its connotation,extension,characteristics,legislative value and practical functions.The second part focuses on the analysis of the legislation and practice of market cap management share repurchase of listed companies,and takes Shanghai Xinlian Information Development Company market cap management share repurchase as a typical case.The third part in-depth analysis of the market value management share repurchase system defects;The fourth part introduces the foreign three types of share repurchase legislative models,and takes the United States,Germany and Japan as reference to explore the beneficial reference to the relevant laws of our country;In the fifth part,based on the reality of our country,this paper puts forward some ideas to improve the share buyback system of our listed companies’ market capitalization management.