Research On The Online IRM Of Listed Real Estate Companies In China

Investors relationship management (Hereinafter referred to as IRM) isthe action that listed companies take to enhance the enterprises’ value, by theway of disclosing information about the companies to investors and othereffective ways. IRM is one of the most important jobs in the listed companiesand is vital to corporate governance. Investors are very critical to listedcompanies among all stakeholders, and the source of driving force for thedevelopment of companies. In the mature capital market, equity culture iswidely accepted and the status of investors is fully respected. All marketparties, including regulators, listed companies and investors attachimportance to IRM and take it as responsibilities to work. Thus the level ofIRM there is very high. But in immature capital market like Mainland China,IRM is not highly valued and in low level. Real estate industry, due to itsfeatures, need better IRM. This article selects the top40real estate companies in mainland China,20of them are A-shares and20are Hong Kong stocks. The40real estatecompanies are the objects of studies. Meanwhile, the author creativelyconstructs a new scientific and comprehensive evaluation system for theonline IRM on the basis of relevant practice and theoretical research. Thenevaluates the objects’ online IRM with the system and analyzes the resultswith SPSS software. The conclusions of the article are:(1) the online IRMlevel of Hong Kong stocks companies is higher than the A-shares companies.Therefore the IRM level of Hong Kong capital market is higher thanMainland China capital market.(2) All object companies, no matter wherethey are listed, need to do more in the critical steps of online IRM--coreinformation and investors interactions. This is the trend of futuredevelopment. At the very ending, the author offer suggestions for enhancingIRM in the Mainland China capital market.The innovations of the articles are:(1) constructs a brand new, scientificand comprehensive online IRM evaluation system on the basis of relevantpractice and theoretical research. This helps the evaluation results morepersuasive and can offer reference for other research about online IRM.(2)There is hardly IRM research about specific industries. While this article is specific to real estate industry and can help real estate companies to enhanceIRM, especially online IRM.