我国上市公司市值管理的必要性研究

On the Necessity of Market Value Management of China Listed Companies

伴随着股权分置改革的基本完成,中国的证券市场进入全流通时代,上市公司进行市值管理势在必行,其必要性主要体现在以下几个方面:市值管理从根本上促进了上市公司经营哲学和经营理念的深刻转变;市值管理为公司管理层提供了有效的市场激励和约束机制;市值管理是企业家贯通资本经营和产业经营思维,提高个人能力素质的必然选择;市值管理能很好地促进上市公司经营目标的转型;市值管理有利于增强上市公司自主创新能力,促进国家科技创新体系的建设;市值管理有利于更好地实现资本市场优化资源配置的功能。

With the completion of state share sale reform, China＇s securities market enters into full circulation times. The market value management of listed companies is imperative in the following aspects ： 1） it promotes radically the fundamental change of operating philosophy of listed companies ; 2） it provides an effective incentive and restraint market mechanisms for companies; 3） it helps enterprisers to know better of capital management and industrial operation, and also to improve the ability of individuals; 4） it stimulates the transition of the business objectives ; 5） it enhances the capability of independent innovation so as to advance the national scientific and technological innovation system; 6） it is conducive to optimize the resource allocation in capital market.