Research On The Effect Of Investor Relations Management Of Listing Corporation

The investor relationship management is a kind of self governance mechanism of company in the world has been quite popular, foreign related research also shows that the company carrying out the investor relationship management will bring some benefits to the company. In our capital market, listing Corporation investor relations management is paid more and more attention, but the relationship management of investors in China’s listing Corporation in the level is still relatively low. How to influence the effect of relationship management listing Corporation corporate investors in China? Development should not encourage investor relations management level?In order to solve the problem above, this paper takes China’s listing Corporation in 2013 China’s A shares of listing Corporation as a sample, to study the effect of company stock liquidity, the value of the company and the company internal control in our country’s listing Corporation investor relationship management, relationship management of investors in China to study the implementation effect.First, the literature related to the research as the starting point, to explore the results of previous studies, drawing on previous research methods of excellent, and to evaluate its shortcomings, and provides a foundation for the following research and clearly in the study should pay attention to the problem.Secondly, define the concept of investor relations management in theory, further clarify the problem of the research, and analysis of the relevant theoretical basis for empirical research, clear logical relationship related. Investor relations manageme nt is the company has cost management activities, in the non-strong efficient mar ket conditions, companies investor relations management can reduce the company’s i nformation asymmetry, improve the transparency of the market; help ease principal-agent problem, foster a good and healthy company image, improve and investor rel ations.Thirdly, the construction of investor relations management index model to evaluate the relationship management of investors in listing Corporation level in China, the listing Corporation has the investor relationship management index. In the evaluation model, combining the research problem, try to select the objective index, and eliminate the correlation and Study on the problem of index, to eliminate the endogeneity problem data.Fourth, empirical research on the effect of investor relations management of listing Corporation in China. Found in the descriptive statistics, the investor relationship management for China’s listing Corporation level is relatively low, but some of the company’s investor relationship management level higher. Empirical regression results found that:the effectiveness of liquidity, the value of listing Corporation and the listing Corporation internal control investor relations management and stock had significant positive correlation. This shows that in China’s listing Corporation in suitable for taking the investor relationship management activities.Finally, this paper analyzes the reason of relationship management level of our investors with low, mainly in China for the importance of investor relations management is not enough, there is no industry standard, the lack of investor relations management of professional service organizations and lack of investor relations management talent. This paper put forward the following suggestions:to strengthen the supervision of listing Corporation, founded on the basis of ChineseInvestor Relations Management Association, and foster equity culture, the listing Corporation to strengthen the internal construction to promote the development of investor relations management in china.