Applied Research On Listed Companies In China Investor Relations Management (irm) To Communicate

As one kind of strategy supervisor mode of modern enterprise,Investor Relations Management(IRM)'s level of development has become an important sign of a mature capital market.The essence of which is to increase and enhance the investor's understanding and cognition to the listed companies,improve the investor's approval and the loyalty,and then to maximize the enterprise value through effective communication with investors.In recent years,China's listed companies have gradually started to take the initiative and the implementation of IRM,and used all kinds of ways to enhance communication with investors.However,the implementation process is still a lot of problems.Therefore,in the paper,the relevant problems and cause in IRM communication is analyzed based on the introduction of application status of IRM in China.Then, puts forward improved proposal and gives out the advance study direction.So,the paper discusses problems and the reasons of IRM communication in China's listed companies,accordingly makes improvement suggest and measure. Firstly,the paper explains the communication components on the basis of the IRM basic principles,including the main communication,objects,as well as the content of the communication.So that readers can have a more comprehensive understanding from the basic theory on the IRM and its communication as a whole.Secondly,the article comparatives two channels and methods of China's Listed Companies IRM communication,then carries on the descriptive statistics of IRM and its communication.A sample survey is conducted in Shanghai and Shenzhen listed companies before September 26,2008,and analyzes the present situation for the implementation of communication for IRM communication.Companies have made certain progress in the cource of communicating with the investors by the paper points out.Many companies start to take IRM seriously step by step,Especially,IRM communication is in good condition of banking,the manufacturing industry.But there are still many problems:①Most of the IRM for China's listed company just stay on the surface;②The lack of interaction and communication for IRM and forms has more than the essence in the communication channels;③The question which consults to the investor is not timely feedback;④The information disclosure quality is not high,the voluntary information disclosure is still quite weak and so on.And point out the elements for restricting effective communication of the investor relations management through investigation:①The external and internal energy for the IRM implementation is not enough;②The lack of professional IRM talent;③The contradictions between IRM input and difficulty for predictability of input effect. Finally,the paper puts forward the improvement proposal and the measure for the current situation and problems for IRM and effective communication of China's listed company.Furthermore,we can broaden the channels of communication and build up communication platform according to China's listed companies IRM evaluation system to improve the quality of the relationship between communication,as well as the quality of information disclosure and strengthen the two-way information communication.