基于股票流動性和資本成本的上市公司投資者關(guān)系管理研究
本文選題:投資者關(guān)系管理 + 股票流動性; 參考:《對外經(jīng)濟(jì)貿(mào)易大學(xué)》2014年碩士論文
【摘要】:研究資料顯示,投資者關(guān)系管理理論最早起源于歐美發(fā)達(dá)國家,在西方,投資者關(guān)系管理儼然是一種內(nèi)容豐富、實(shí)例較多的研究科目。相比之下,中國對投資者關(guān)系管理的研究較晚,,2005年,中國的“股改”(股權(quán)分置改革)加速了投資者關(guān)系管理的興榮,中國投資者關(guān)系取得了標(biāo)志性的進(jìn)步。同時,伴隨近幾年資本市場對題材股、概念股等熱點(diǎn)股票的追逐,中國上市公司在逐漸意識到投資者關(guān)系管理工作的重要性,上市公司投資者關(guān)系管理部門在資本市場中愈來愈發(fā)揮其重要的橋梁作用。雖然如此,仍有部分上市公司的投資者關(guān)系管理工作并未到位,并未深刻認(rèn)識到投資者關(guān)系管理的重要性。因此,結(jié)合作者在財經(jīng)公關(guān)公司從事投資者關(guān)系管理工作的經(jīng)驗(yàn),本文將股票流動性、資本成本和投資者關(guān)系管理聯(lián)系起來,同時列舉案例對我國上市公司投資者關(guān)系管理對股票流動性、資本成本的影響進(jìn)行研究。 本文首先從投資者關(guān)系管理的基本理論開始進(jìn)行闡述,通過借鑒國內(nèi)外學(xué)者、機(jī)構(gòu)對投資者關(guān)系管理的研究,概括總結(jié)了投資者關(guān)系管理的涵義、主要要素、目標(biāo)及相關(guān)理論,并對中國上市公司投資者關(guān)系建設(shè)情況進(jìn)行闡述。之后針對作者親身參與的上市公司投資者關(guān)系相關(guān)事項為案例進(jìn)行研究分析,論證我國上市公司投資者關(guān)系管理同股票流動性、資本成本是否存在相關(guān)關(guān)系,同時對上市公司財務(wù)數(shù)據(jù)進(jìn)行實(shí)證檢驗(yàn)。實(shí)例研究結(jié)果表明,投資者關(guān)系管理同股票流動性、資本成本分別存在正、負(fù)相關(guān)關(guān)系,在此結(jié)論的基礎(chǔ)上得出了對我國投資者關(guān)系管理的幾點(diǎn)建議,監(jiān)管層、上市公司及外部力量三個層面都應(yīng)該共同努力促進(jìn)投資者關(guān)系管理的開展。
[Abstract]:The research data show that the theory of investor relationship management originated from developed countries in Europe and America. In the west, investor relationship management is a kind of research subject with rich contents and many examples. In contrast, the research on investor relationship management in China is relatively late. In 2005, China's "share reform" (split share structure reform) accelerated the prosperity of investor relationship management, and the Chinese investor relationship made symbolic progress. At the same time, with the pursuit of hot stocks such as subject stocks and concept stocks in the capital market in recent years, Chinese listed companies are gradually realizing the importance of investor relationship management. The investor relationship management department of listed companies is playing an important role in the capital market. However, there are still some listed companies in the investor relationship management work has not been put in place, did not deeply understand the importance of investor relationship management. Therefore, combined with the author's experience in investor relationship management in financial and public relations companies, this paper links stock liquidity, capital costs and investor relationship management. At the same time, it enumerates cases to study the influence of investor relationship management on stock liquidity and capital cost. This paper begins with the basic theory of investor relationship management, and summarizes the meaning, main elements, objectives and related theories of investor relationship management by referring to the research of domestic and foreign scholars and institutions on investor relationship management. And the construction of investor relations of listed companies in China is expounded. After that, the author studies and analyzes the related issues of investor relationship of listed companies, and proves whether there is a correlation between investor relationship management and stock liquidity and capital cost of listed companies in China. At the same time, the financial data of listed companies are tested empirically. The results of the case study show that there are positive and negative relations between investor relationship management and stock liquidity and capital cost respectively. Listed companies and external forces should work together to promote the development of investor relationship management.
【學(xué)位授予單位】:對外經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2014
【分類號】:F832.51;F275
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