The Research Of Investor Relationship Management Impact On Market Vale Of Company

With the fast development of the capital market,the maximization of the equity value has been well discussed and become one of the top issues for listed companies.While under the condition of weak-form efficiency of the capital market,the relationship between the stock price and the intrinsic value of the company is quite vague.Investor Relationship Management(IRM)is one of the efficient methods to deal with the gap between them.Through IRM,the interaction between the company the investors will be strengthened.This will also build the confidence of the potential investors and enhance the market position,through disclosing more detailed information of the company's operating and developing strategies.Good IRM will help the capital market to avoid severe deviation of company intrinsic value,eliminate information asymmetry between companies and investors,and achieve the unity of the companies intrinsic value and market performance.This paper begins with the theoretical basis analysis,expounding the domestic and foreign research status,relating concepts and theoretical basis of investor relationship management and market value management.Then,based on the literature research,the basic assumptions of this paper are put forward by comprehensive analysis.Empirical research on the impact of relationship management on the company's market capitalization will be done,and finally the analysis of typical case companies will be combined with,which confirms the impact of IRM on Market Value Management(MVM).The empirical results show that: 1)Overall,investor relationship management is significantly positively related to market value management,that is,the better the investor relationship is handled,the better the market value management effect is.2)This article divides investor relationship into information disclosure,investor communication and institutional guarantee.Information disclosure is positively correlated with market value management to some extent,and investor communication is significantly positively correlated with market value management,but institutional guarantee and market value management do not show significant correlation,mainly because different companies have different strategies,which leads to the lack of strong reference value for the institutional guarantee information obtained from the layout of the official website.The conclusions of this study can provide suggestions for optimizing investor relationship management;Empirical conclusions can provide reference for listed companies in investor relationship management and market value management;Suggestions from multiple dimensions of investor relationship can build the future of the value management for listed companies.