农业上市公司监管函对投资者关系管理的影响研究

Research on the Influence of Agricultural Listed Company Supervision Letter on Investor Relationship Management

以2016—2020年农业上市公司的数据为样本,研究监管函效应与农业上市公司信息披露质量以及投资者利益的关系,在考虑了农业上市公司的特殊性后,以投资者关系管理质量作为衡量信息披露质量的指标。研究结果表明,监管函得分情况对于农业上市公司的信息披露质量有显著的正效应,对于投资者利益也有着显著的正效应。为此,农业上市公司应规范经营管理,交易所和证监会应重视并完善监管函等非惩罚性监管。

In recent years,the information disclosure problems of agricultural listed companies have occurred frequently,which has seriously affected the interests of investors.As a non-punitive supervision,the regulatory letter is gradually entering the vision of investors.Taking the data of agricultural listed companies from 2016 to 2020 as a sample,this paper studied the relationship between the regulatory letter effect and the quality of information disclosure of agricultural listed companies and the interests of investors,After considering the particularity of agricultural listed companies,the quality of investor relationship management was taken as the index to measure the quality of information disclosure.The results showed that the score of supervision letter had a significant positive effect on the quality of information disclosure of agricultural listed companies and the interests of investors.Therefore,agricultural listed companies should standardize their operation,and the exchange and CSRC should pay attention to and improve non punitive supervision such as supervision letter.