An Empirical Study On The Factors Affecting Investor Relations Management Of Zhejiang’s Listed Companies

Social capital as a scarce resource, from a macro view of aspects, which directlyaffects the national allocation efficiency of transformation of the mode of economicdevelopment, regional resource endowments configuration, industrial restructuring.From a micro view, the listed company’s strategic structural changes and changes inleaps and bounds plays an important role. Currently, the capital market involvement inthe global financial crisis and widespread downturn convenient, efficient and costaccess to capital to become one of the problems listed companies in general, listedcompanies in the capital market, the level of marketing to some extent determine theenterprise’s growth height. The listed company’s investor relations convenient, efficientand low-cost financing to provide a new solution. Investor relations refers to therelationship marketing through the use of a means of interactive communication withinvestors, to keep the information feedback to maintain the relationship between thetwo sides, both sides seek to achieve to meet the purpose of a corporate strategicactivities. Therefore, timely identify factors that may affect the investor relations is ofgreat practical significance.Firstly, the existing literature on reading and mastery, combined with nationalpractice of investor relations, investor relations for the content, form and theoreticalfoundation depth exposition, while the article gives investor relations defined. In thispaper, Zhejiang Province,82Main Board listed companies as samples to May2012toMay2013for the study period, the establishment of evaluation system for investorrelations, information disclosure from the completeness, accuracy, timeliness andInvestor Relations level of communication and many other dimensions of listedcompanies investor relations for observation and statistics, descriptive statistics foundthat overall, Zhejiang listed companies investor relations at a low level, and the largedifferences between the companies. Then from the investor relations motives, causes, and from theory to explain the level of investor relations and influence the relationshipbetween factors and to analyze its internal mechanism. Finally, the level of investorrelations for the explanatory variables, managers degree of confidence, corporateidentity, corporate governance structure, ownership structure four areas totaling10factors as the explanatory variable, the multiple linear regression model to identify thecorrelation between. The results show that: the degree of confidence managers,company size, the company’s growth and the dual role of the degree of unity on fourfactors have a significant impact on investor relations. And from the conclusion of thestudy based on the combination of the truth between investors, the development of ourcountry, provide the related suggestion and the listing Corporation investor relationsimprove and develop.