Research On Investor Relationship Management From The Perspective Of Market Value Management

Investor relations management(IRM)is an important part of corporate financial management,it can regulate the operation of the company,improve the company's core competitiveness,establish good communication channels between investors and listed companies,it has also become the important mechanism to protect the interests of investors and improve the corporate governance structure.The capital market of our country is still the weak effective market,the development of investor relations management is still not as good as the western developed countries,many listed companies have not realized the importance of IRM for corporate governance and corporate value creation,so the progress of China's listed companies investor relations management is relatively slow,the effectiveness is not high.The equity division system for a long time to curb the development of China's capital market,in 2006 after the reform of non-tradable shares,non tradable shares and tradable shares shareholders tend to be consistent,the Market Value Management has become a hot topic in today's China capital market.In order to allow listed companies to have more long-term development,to maximize the value of the company,more and more companies began to pay attention to the Market Value Management,gradually improve due to the intrinsic value of non tradable shares cannot lead the company through the stock price performance is out of the question,the market value in return within the company.Investor relations management is an important part and means of market management,the market capitalization of listed companies management,Investor Relations Management is in addition to the company's actual profit ability,the factors can influence the market value of the management of listed companies,by strengthening the investor relations management,can further improve the company's market capitalization management.Therefore,it is of great significance to improve the effectiveness of China's capital market and promote China's economic development.This paper will use the combination of normative research and case study method,firstly,systematically analyzes the theoretical relationship between investor relationship management and market management,analyzes the internal mechanism of investor relations management to market management influence path and the two.Secondly,this paper chooses Vanke Limited by Share Ltd as a case study.In the case study,the acquisition of investor relations award period and Vanke Vanke equity dispute "the two periods,the management of investor relations of different typical periods of Vanke are analyzed,and the relationship between the management status of different investors under the market value of the management work of evaluation,evaluation of market value management by increasing the risk adjusted EVA economic value model combined with the evaluation of market value management model.Through the evaluation of different investor relations management in different periods of the market value of the management performance,to reflect the relationship between investor relations management and market value management.Finally,the paper draws the conclusion of the study and prospects the future research.