上市公司市值管理的研究——以贵州百灵为例.docx

闽南师范大学毕业论文上市公司市值管理研究——以百灵企业集团有限公司为例Research onMarket Value Management of The Listed Company ——The Case ofBaiLin姓名：　　学号：　系别：　商学院 　专业：　财务管理　年级： 　　指导教师：　　摘要自施行股权分置改革以后，上市公司的市场价值与公司利益的联系变得更加密切，财务目标不再是利润最大，以股东权益为核心的价值最大化成为了公司发展的新目标，这样的环境也就催生出了市值管理理论。市值管理的核心内容，是提升上市公司的市场价值，并且在提升的过程中又要以稳定作为第一前提。通过管理层的各种经营手段，比如充分的资本运作和良好的投资者关系管理，使公司实现以内在价值为支撑的市值最大化的管理活动。本文采用案例研究的方法，通过分别解释价值管理、市值管理的内容，以及两者之间的关系来分析市值管理理论。然后在分析理论的基础上，提出上市公司市值管理的内容以及市值溢价的途径。接着展开对贵州百灵的市值管理研究。先是对贵州百灵的基本情况进行介绍，然后通过价值创造、价值经营和价值实现三个环节具体分析贵州百灵市值管理采取的措施，发现并指出贵州百灵市值管理方面存在的问题，并有针对性的提出改进措施，提升贵州百灵的市值管理能力。最后，对上市公司的市值管理提出建议。关键词：上市公司；市值管理；价值要素；贵州百灵AbstractSince the purposes of split share structure reform, the market value of listed companies became more closely associated with the interests of the company, financial target is no longer the profit maximization, the core of value maximization of shareholders equity become a new target of The development company , which spawned the environment value theory. The market value of listed companies Improve and in the process of ascension and to stabilize as the first premise is core content of value management, by means of management of the business, such as adequate capital operations and investor relations management, realize the intrinsic value of the company to support value maximization management activities. Using case study method, by respectively the content of value management, value management, market value, and to analyze the relationship between the two theories, and analysis theory on the basis of the proposed market value market value of listed companies to manage the content and premium channels. Then the value management research of GuiZhou BaiLing. First introduced the basic situation of GuiZhou BaiLing, and then through value creation, value management and three links specific to value analysis of GuiZhou BaiLing the market management measures taken, found and pointed out that problems of GuiZhou BaiLing the market management and put forward improvement measur