The Analysis Of Investors Relations Management-based On The Case Study Of The Listed Companies’ Stock Liquidity, Capital Cost

Since a long time before, western investor relations has developed into a richcontent research field, on the contrast, our country scholars begin to pay their attentionto this field. In2005, the Chinese securities market share reform speeded up thedevelopment of the investor relations management．Since then，the investor relationsmanagement has developed an era of fast development．Along with the pursue of thesubject stocks, the concept stocks by the capital market, the listed companies haverealized the importance of IRM with the IRM persons have played a much moreimportant role in the listed companies．However, some listed companies don’timplement investor relations management or regard it as an important part of thecorporate strategic. After all, it is because of inadequate understanding of the investorrelations management’s essential functions.Therefore this article does some cases study on the relations between the IRM andthe stock liquidity, also relevance between the IRM and the listed company’s cost ofcapital, regarding that I have the experiences of IRM in PR company.Firstly, this article states about the theoretical research of the IRM. Secondly,along with the theory basis, this part elaborates the theory implications, the elements,objectives and theoretical bases of the IRM. Moreover, the report also states about thedevelopment of the Chinese listed companies’ IRM. Thirdly, with the cases study ofthe listed companies’ IRM, this article comes to conclusions, there exist positivecorrelation between the IRM and stock liquidity as well as negative correlation withthat of the cost of capital. Lastly, this report reaches some recommendations for IRMdevelopment, whether the government, the companies or the PR companies haveresponsibilities to make big efforts to strengthen the development of the investorrelations management.