Investor Relationship Management platform for the Construction of the need for and

        Summary: In the international arena is more mature capital markets, investor relations management (IRM) has become the theoretical Research and practical application of the hot spots. To how to manage from a strategic height Investor Relations is currently listed companies in China face a relatively unknown but extremely important issue. In this paper, sort out the relevant Research literature, based on the investor relations management expounded the necessity of proposed measures to strengthen the management of investor relations with a view to a certain extent, promote the domestic capital markets, investor relations management platform construction.
        Keywords: Investor Relationship Management platform construction
          
        In mature capital markets, investor relations management has gone through a scratch, gradually maturing process of the understanding of investor relations management is also more comprehensive and in-depth. As the problem of understanding different perspectives, agencies and Researchers to the understanding of investor relations there is a difference, but these differences are not fundamentally different.
        In this paper, the understanding of investor relations as follows: Investor Relations, one of the company's strategy, its theoretical basis in the financial, marketing, communication and corporate governance; investor relations management object-oriented investors and potential investors, both individual investors, including institutional investors; investor relations activities of the main contents of the communication, the main mode of communication, information disclosure (in particular, voluntary disclosure), while the emergence of communication network technology to provide a more effective way to ; investor relations activities are designed to reduce the investors through adequate communication of risk, companies and investors to maintain good relations between and through the effective management of the creation of relationship value.
          
        The need for investor relations management
          
        In essence, the intrinsic relationship between the investors and the cause is that both sides need each other. And investor relations management is to promote the company and investors, the means necessary to win-win situation. The reason why investors are willing to risk funds invest in companies, mainly in the hope of investment from the company to obtain other benefits not available in high returns, however, that their profits are expected for the future, there is considerable uncertainty and risk, therefore, investors will pay special attention to reflect its past performance and future prospects of the company's financial and non-financial data; companies need a lot of money to for the company's infrastructure and daily operation and management business, but also the sustainable development of the company's need for funds providers, the company's credibility and willingness to bear a certain risk of long-term support.
        In Figure 1, any company with investors that there is a more or less because of their need to form relationships with each other, but whether this relationship lasting and loyal relationship between the value created depends on the degree of relationship between the value of the more high, the stronger the dependence of the two sides together to create greater value. Relationship management company as the main body, only to relationship-oriented to deal with all the investors relations, investor relations will produce value.
        Investor relations management can improve the corporate governance structure. Good investor relations investors rationalization proposals will be adopted to improve the company's management and governance structure, will help establish a good market image and enhance investor confidence in the company's investment and enhance the company's financing capacity, reduce financing costs, the promotion of equity flows, and improve core competitiveness of listed companies. In the current existence of some of China's listed companies 'due to the dominance' of the situation, so that the general investors, especially small and medium investors fully informed of the circumstances, have a greater say in corporate decision-making, the introduction of investor relations management to improve the quality of corporate governance philosophy may well be a positive move.
          
        Investor Relationship Management platform construction
          
        With the stock market development and growth, China has started to introduce concept of investor relations. In 2005, the China Securities Regulatory Commission issued a 'listed company and investor relations guidelines', provides a package of investor relations management approaches and standards. But compared with mature Western market economies, investor relations in China has only just started, even as stock market is not yet mature, shareholders indifferent cultural awareness, shareholder values, old, professional investor relations management talent shortage and inadequate depth of theoretical Research reasons, in China's listed companies do not form a complete idea of investor relations, investor relations management is a passive, one-way, leading to investor relations the results are not satisfactory.
        This paper argues that the management of investor relations platform construction consists of three aspects: explicit content of investor relations management, innovation and investor relations management strategies, sound management of investor relations organizations.
          
        (A) the contents of investor relations management
        1. Relevant content analysis study. Related content analysis Research is the basis of investor relations management, specifically including: a listed company structure of the existing and potential investors, quantity, capital, preferences, etc. of the studies; financial and economic research research methods, results, dynamic, etc. of the analysis; news media means of communication, tone, content and other aspects of the analysis; regulatory supervision of the implementation of laws and regulations, requirements, change in follow-up study.
        2. Relevant personnel communication of information. Based on the analytical study based on the information content of communication is the core of investor relations management. Specific contents include: the securities regulatory authorities and relevant personnel in information communication; with investors and potential investors of the information communication; and financial information communication researchers; and news media, information communication; company's shareholders, board of directors, management layer and staff communication.
        3. The establishment and maintenance of public relations. To establish a good investor relations Financial Public relations is the guarantee of a job. Financial Public Relations There are four main areas: the establishment and maintenance with the financial good communication between researchers; the establishment and maintenance with the news media, especially the financial media good working relations; the establishment and maintenance with the government authorities a good working relationship be established; and maintenance of a good interactive relationship with investors.
      
        4. Participation in company's development strategy. In order to ensure the effectiveness of the management of investor relations, investor relations executives to be involved in the company's senior management, in particular the need to intervene and participate in corporate strategic planning to develop a variety of development work. Reposted elsewhere in the Research Papers Download http://www.hi138.com
        (B) the investor relations management strategy
        Improve the information disclosure system and improve the information disclosure system is to ensure investor relations for the quality and consistency of the important measures, when the statutory information disclosure in the protection factors, as a business strategy of the investor relations part of a greater emphasis on voluntary corporate disclosure - motivating factor. Voluntary disclosure of information includes two aspects, one of the mandatory disclosure of information refinement and deepening of mandatory disclosure of information to enhance the credibility and integrity; 2 is the mandatory disclosure of information to complement and expand to highlight the company's' core competencies and competitive advantage 'objective, comprehensive, systematic disclosure of information to demonstrate the company's future profitability and growth potential.
        Construction of personalized communication channels. Each company should be a result of the industry, size, composition and other factors of the different investors, take a unique investor relations management. This is because increasing the company's investors, and investors to choose more complex, institutional investors and individual investors have different preferences, it should be by means of investor relations management platform, loan marketing theory to build personalized channel of communication so that each investor a better understanding of the company's operations and the development of vision.
          
        (C) the organization of investor relations management
          
        IRM professional sector is one of the characteristics of modern IRM work. With the development of capital markets, companies and investors to implement IRM work should go beyond a simple exchange of information, but requires the integration of IRM work more companies to a strategic level and therefore require more specialized staff to organize their work. For now, to create first-class, market-oriented IRM work must meet three conditions: the company's management support, with a dedicated investor relations function of the sector and with a certain degree of professional knowledge and experience of professional personnel. In the organizational structure, the board is the IRM of the decision-making body, responsible for company's IRM system and is responsible for inspecting and evaluating the implementation of IRM work, running situation; Board of Supervisors is the IRM of the oversight body to oversee whether the company effective implementation of IRM in accordance with legal work; IRM sector is the IRM of the functional departments under the leadership of the company's board of directors is responsible for organizing the implementation of the company's IRM work.
        IRM in abroad, IRM workers is often a member of the company's senior management, and personally involved in corporate strategy formulation. Through effective communication with investors, IRM workers to understand the needs of investors, they will be passed to investors, senior management feedback. This helps improve the credibility of the company's strategy, but also help the company develop a detailed and feasible strategy for IRM. As a listed company's leaders, they should be personally involved in the company's IRM's work demonstrates the importance of listed companies on the lRM, and also can enhance the analysts, the media and investors the information released by the company's efforts to convince.
        In addition to its own listed companies, the capital markets of the other organizations should pay attention to and support the IRM, regulatory authorities should carry out its oversight functions, the irregularities of listed companies to conduct regulation; investors should invest in a rational and not excessive 'speculation', to enhance rights protection awareness; news media and other intermediaries should play a good intermediary functions of the IRM work actively cooperate with the listed company. Only when all the participants are all IRM reached a consensus, IRM can be the new thing in the appropriate climate and soil to develop.
          
        References:
        1. Wang rights. Protecting the interests of stakeholders and Firm Value - Evidence from Chinese Listed Companies [J]. Nankai Business Review, 2008.2
        2. Hao Chen. China listed companies, Investor Relations web site section empirical research [J]. Management Science, 2005.2
Reposted elsewhere in the Research Papers Download http://www.hi138.com