公司特征与投资者关系管理水平相关性研究

发布时间：2018-02-15 04:10

本文关键词： 投资者关系管理公司特征影响因素　出处：《苏州大学》2014年硕士论文　论文类型：学位论文

【摘要】：投资者关系管理是指上市公司通过充分的信息披露，并运用金融和市场营销的原理，加强自己与在册投资者和潜在投资者之间的沟通，增进投资者对上市公司的了解和认同，实现公司价值最大化的战略管理行为。投资者关系管理(InvestorRelations Management,英文缩写IRM)产生于美国20世纪50年代，，是西方发达国家特别是美国证券市场发展和股权文化兴起的产物。我国引入投资者关系管理的概念比较晚。经过十来年的发展，无论是学术界的理论研究还是上市公司的投资者关系管理实践都取得了一定的成果，然而与发达国家资本市场相比，我国上市公司投资者关系管理水平总体上还相对比较低。究竟是哪些因素影响着我国上市公司投资者关系管理水平呢？本文在对国内外关于投资者关系管理的概念、价值、评价体系及投资者关系管理水平影响因素等文献进行归纳整理的基础上，以上交所360家上市公司的数据为研究对象，采用内容分析法构建了一套投资者关系管理水平评价体系，从公司结构特征、公司业绩特征和公司市场特征三个方面检验了公司特征与投资者关系管理水平的相关性。本文研究有助于进一步了解我国上市公司投资者关系管理实际的开展情况及影响其发展状况的相关因素，这对于提升我国上市公司投资者关系管理水平、保护投资者的知情权、促进我国证券市场持续健康稳定地发展都有着重要的意义。
[Abstract]:Investor relationship management means that the listed companies strengthen their communication with registered investors and potential investors through full disclosure of information and use of the principles of finance and marketing to enhance the understanding and recognition of listed companies by investors. Strategic Management behavior to maximize Corporate value. Investor Relations Management (IRM) was created in 1950s in the United States. It is the product of the development of the western developed countries, especially the United States stock market and the rise of equity culture. China introduced the concept of investor relationship management relatively late. After more than a decade of development, Both the academic theoretical research and the investor relationship management practice of listed companies have made some achievements. However, compared with the capital markets of developed countries, The level of investor relationship management of listed companies in China is relatively low on the whole. What factors affect the level of investor relationship management of listed companies in China? On the basis of summarizing the concepts, value, evaluation system and influencing factors of investor relationship management at home and abroad, this paper takes the data of 360 listed companies in Shanghai Stock Exchange as the research object. A set of evaluation system of investor relationship management level is constructed by means of content analysis, which is based on the characteristics of company structure. The correlation between the corporate characteristics and the level of investor relationship management is tested in three aspects: corporate performance characteristics and corporate market characteristics. This study is helpful to further understand the actual development of investor relationship management of listed companies in China. And the relevant factors affecting its development, This is of great significance for improving the level of investor relationship management of listed companies in China, protecting investors' right to know, and promoting the sustainable, healthy and stable development of China's securities market.
【学位授予单位】：苏州大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51;F275;F276.6

【参考文献】