上市公司投资者关系管理的维度构成与测量

Measuring the Dimensions of Investor Relations Management in Listed Companies

近年来,投资者关系管理受到了上市公司的高度关注。在回顾国内外投资者关系管理研究的文献基础上,分析了投资者关系管理的本质和内涵,总结了投资者关系管理的测量方法,从投资者感知角度构建了上市公司投资者关系管理体系。提出了上市公司投资者关系管理应当由信息披露、沟通活动和公共关系三个维度组成,并设计了相应的测量工具。通过对241名投资者进行实证问卷调查,验证了测量量表的可靠性和有效性。

Nowadays, the investor relations management （IRM） in listed companies attracts the attention more and more. Based on a review of the earlier works in connection with IRM, the essence and connotation of IRM is discussed to sum up the ways to measure IRM in listed companies, then an IRM system for listed companies is framed from the perspective of investors＇ cognition, where the IRM of a listed company consists of three dimensions, i. e., information disclosure, communication activity and public relations. With a measuring system designed correspondingly, an empirical investigation was carried out by an IRM questionnaire to which 241 investors have answered and, as a result, the reliability and validity of the measuring effect via questionnaire were verified.