基于价值的管理(VBM)框架体系的核心是实现股东价值的最大化。本文从交易成本、委托代理、利益相关者、标准成本法等方面并结合部分成功案例论证其实践的合理性,并初步提出了下一步改进建议,这对推动企业基于价值管理的全面改革与创新具有积极的意义。 At the heart of the Value Based Management (VBM) framework is maximizing shareholder value. This article demonstrates the rationality of its practice from the aspects of transaction cost, principal-agent, stakeholder, standard cost method and some successful cases, and initially proposes the suggestions for further improvement. It is of great importance to promoting the comprehensive reform and innovation of enterprises based on value management Has a positive meaning.