The Related Research On Company Characteristics And Investor Relations Management Level

Investor relations management is such strategic management behavior that the listedcompanies disclose information, apply financial and marketing principles, strengthen itscommunication between investors and potential investors, enhance investors’understanding and recognition of listed companies, and maximize the interests for thecompanies. Investor Relations Management (IRM) was originally proposed in developedcountries such as the United States in the1950s, especially in the U.S. stock markets, andequity products in developed Western countries. The time that IRM concept wasintroduced to our country was relatively late. In the past decades, IRM have achieved a lotnot only in academic research field but also in listed company practices. However,compared with that in developed capital markets, China’s listed companies investorrelations management still laid behind in general. Which factors affects China’s listedcompany’s investor relation management level?In this study, the research was based on the organization of the domestic and foreignabout the concept of investor relations management, IRM value, IRM evaluation systemand the factors influencing the level of IRM. The data from the Shanghai stock exchange360listed companies from October2012to December2012was used as the researchobject, The methods of content analysis was adopted to construct a set of investor relationsmanagement level evaluation system. We also tested the correlations between the companycharacteristics and the IRM level from the company structure characteristics, companyperformance features and company market characteristics. The study helps to furtherunderstand currently the development of China’s listed company investor relationsmanagement of the actual situation and the related factors affecting its development. It isalso of great significance to enhance China’s listed company investor relations management level, to protect investors’ information right, and to promote the healthy andsteady development of China’s securities market.