CAJ | 학술논문

我国资本市场进入全流通时代后,出现市值管理这一全新命题。开展市值管理对于以上市公司为核心的山西资源型经济转型尤为重要。由于受到多方制约,事实上导致山西上市公司市值管理方面的不作为。借鉴中信证券反周期运作的成功经验,依据市值管理框架,本文在保持原有大股东控股权的前提下,筛选出12家便于市值管理的山西上市公司。最后提出要尽快制定市值管理政策,增强价值创造和价值实现的关联度,积极培养市值管理人才,做好投资者关系管理等相关政策建议。
아국자본시장진입전류통시대후,출현시치관리저일전신명제。개전시치관리대우이상시공사위핵심적산서자원형경제전형우위중요。유우수도다방제약,사실상도치산서상시공사시치관리방면적불작위。차감중신증권반주기운작적성공경험,의거시치관리광가,본문재보지원유대고동공고권적전제하,사선출12가편우시치관리적산서상시공사。최후제출요진쾌제정시치관리정책,증강개치창조화개치실현적관련도,적겁배양시치관리인재,주호투자자관계관리등상관정책건의。
When China＇s capital market goes into full circulation times,market value management as a new topic turns up.To carry out the market value management for listed company as the core of Shanxi resource-based economies transition is particularly important.Due to various constraints,in fact market value management of the listed company is of nonfeasance.Drawn into lessons from the CITIC Securities successful experience of reverse cycle operation,according to market value management framework,firstly,the paper choose 12 Listed Companies in Shanxi to facilitate market value management.Then,under the premise of maintaining the right of the original major shareholders,it pointed out that the government sector should develop market value management policy as soon as possible.Lastly,it discussed that Listed Companies need to enhance relevance between the value creation and value realization of,to cultivate actively the market value management talent,improve investor relations management.