“新国九条”提出“鼓励上市公司建立市值管理制度”后,市值管理现象在资本市场大行其道。对于市值管理的概念、外延、边界及实践中衍生的诸多问题,均没有权威统一的规范与说法,存在较大法律争议。实践中市值管理有增持回购、并购重组、股权激励、改制治理、特殊交易等多种类型,衍生出账户管理、信息披露、涉嫌复合型违法违规等诸多法律问题。对于市值管理乱象,应从规则、执法、自律等多个层面综合治理,具体包括:出台市值管理自律规则;通过证明方式创新破解市值管理违法认定难题;明确市值管理规程与要素;优化市值管理环境和配套措施等。 “New Country nine ” proposed “to encourage listed companies to establish market value management system ”, the phenomenon of market value management in the capital market popular. For the concept of market value management, extension, boundaries and many problems derived from practice, there is no authority and standardization of norms, there is a big legal dispute. In practice, there are many legal issues such as stock repurchase, merger and acquisition, equity incentive, restructuring and special trading, and other types of account management, information disclosure, and suspected illegal and illegal mergers and acquisitions. For market management chaos, from the rules, law enforcement, self-discipline and other aspects of comprehensive management, including: the introduction of market value management self-regulation rules; And supporting measures.