国外投资者关系管理价值效应研究前沿述评

The Reviews on Foreign Research of Investor Relations Management Value Effects

投资者关系管理是一种有价值的管理活动,国外丰富的研究成果值得借鉴和学习。IRM的价值路径主要有两条:一是直接价值效应。主要体现IRM在改善和提高企业声誉、增加公司可见度、吸引机构投资者等方面具有直接的贡献;二是间接价值效应。主要体现在长期有效的IRM能够发挥降低资本成本、提高股价以及最终提升公司价值等作用。通过梳理国外有关IRM价值相关性研究成果,把握IRM研究前沿,为我国相关理论研究和企业实践提供经验借鉴。

Investor Relations Management （IRM） is a valuable management activity, and foreign countries have achieved extensive research in IRM field which is worth to learn.There are mainly two value paths of IRM, the first value path is direct value effects, which are mainly reflected in improving and enhancing corporate reputation, increasing corporate visibility and attracting institutional investors.The second value path is indirect value effects, which are mainly reflected in reducing capital costs, improving stock prices, and ultimately enhancing the value of the company and so on.By reviewing on the related literature of IRM in foreign countries, this paper grasps the IRM research frontier and provide relevant experience for research and business practice in IRM.