The Related Analysis Of IRM Based On Information Disclosure And Ownership Structure

In recent years, fraud and disguise leave us all speechless from shock in our country stock market, and the false information disclosure bring serious injury to investors, and show that IRM based on information disclosure of our country listed company imperfect and absent seriously. IRM is the symbol of capital market tending towards maturity, as a strategic process that it based on full disclosure of information and listed company communicate corporate management information and harmonize relationship with investor. Do a good job in IRM is very important for listed companies, investors and the stock market. Its effectiveness will not only be propitious to improve reputation and increase value of listed company, but also be in favor of enhancing investor confidence and stockholder consciousness in capital market, advancing good and healthy development of capital market, accordingly, bringing forward the standard and healthy development of the securities market. This article use the methods of combining theory with empirical to study the related analysis of ownership structure as the very important internal control mechanism in the company and investor relations management.After introducing the related concepts and mechanism of relevance action of IRM based on information disclosure and ownership structure, the article put forward a hypothesis and make a judgment using empirical methods. In the aspects of empiricism, The article setting five explanatory variable of the ownership structure, there are the nature of controlling shareholder, proportion of negotiable share, the shareholding ratio of external ownership, the shareholding ratio of institutional investor, concentration rate of ownership, the power balance rate of ownership structure; In addition, the article setting three control variables, there are size and performance of corporation and financing plans. The results of empirical study indicate that IRM of listed company in our country positively correlation with proportion of negotiable share, the shareholding ratio of external ownership, the shareholding ratio of institutional investor, the power balance rate of ownership structure, company size and financing plans, but insignificantly correlated with other variables. Based on the results of empirical research, the article put forward the suggestion from strengthening the disclosure of information to promote the overall development of IRM and in view of perfecting the ownership structure of listed companies to raise the lever of IRM.