| Investor relations management (IRM) is a strategic administration behavior of maximizing the enterprise value, by using the knowledge of finance, communication and marketing. At the present stage of our country, the research of investor relations management theory has positive meanings in perfecting the capital market of our country and standardizing the development of the listed company. As to the whole capital market, IRM can help to arouse the investors' consciousness as shareholders, to strengthen the investor's confidence, to perfect the mechanism of the market pricing and to improve the disposing efficiency of the market. As to the listed company, IRM has the function of perfecting company's administration structure, widening the company's financing channel, raising the financing price, reducing the financing cost, managing the investor's expectancy, and stabilizing the stock price.The concrete content of investor relations management includes investigating and researching of information, message promoting, the relation building, and information feed backing. The implementation methods include shareholders' meeting, website, analyst meeting, achievement meeting, road show, etc. In our country, the capital market prestige degree is low, the market rational degree is worse, and the market validity is relatively weak. Therefore the implementation cost of IRM is greater than the implementing incomes of IRM. So the listed companies lack the inherent motive of implementing the investor relations management. The measure of impelling the implement of IRM in the current situation lies in the following aspects: To improve the rational degree of the main market participates by educating and propagating; To improve the market validity through perfecting the market regulation and supervisory system; To strengthen the inherent motive of implementing investor relations management of the listed company, by encouraging sincere, punishing severe and the fake making to establish the market credit system; To promote the company's own natural endowment of implementing IRM, through restraining the stock financing, strictly controlling the quality of the listed company; To establish theexternal mechanism of restraint and promoting of IRM, by making the implement standard of IRM. Under the comprehensive function of the inherent motive of IRM implementing, the company's own natural endowment and the external restrain, the present problems of investor relations management must be settled thoroughly. |
