Investor relations

Specifically, Investor relations management (IRM: Investor Relationship Management) refers to the application Financial communication And marketing principles are the same as managing a company Financial and economic circles The content and channels of information communication with other walks of life, in order to maximize the value of relevant stakeholders and obtain the broad recognition of investors as scheduled, regulate the operation of the capital market, and achieve external constraints on the company's operation Incentive mechanism , realize stockholder Maximizing value and protecting the interests of investors, as well as relieving pressure from regulators. IRM is also often colloquially understood as Public relations management (PRM: Public Relation Management). In China, IRM is also often referred to as Financial public relations .

Investor Relation (IR) and "Investor Relation" Investor relations management (IRM, Investors Relation Management) has matured in the West Capital market It has a history of more than 30 years. However, in Developing country The concept is not yet widespread Securities market All the parties involved know, but not all Listed company management Can fully understand the importance of IRM to the long-term development of the company. Tian Shuhua, a domestic scholar, has conducted in-depth and systematic research on investor relations management.

It is worth mentioning that the five objects of investor relations in order of importance are: Fund manager , the buyer analyst , Sell-side analyst , financial media and high Net assets Individual (retail). Institutional investor They usually have their own team of analysts, and they are different Investment strategy And preferences, the effective communication of which requires professional capital markets knowledge and experience, and the mere application of PR and Mass communication the Way of thinking The effect is limited. The role of financial media is more about influence Retail investor Therefore, the importance is ranked after the buyer and the seller.

In practice, US listed companies with more mature investor relations (including non-US listed companies in the US) usually appoint professional investor relations consultants to assist with day-to-day and project-based work. Year-round routine includes investor relations strategy development, Corporate capital Market positioning Investment highlights and story packaging, performance release teleconference Support, major incident disclosure Press release The editing, roadshow support, investors Relational website And investor database maintenance, as well as receiving investor inquiries and response Crisis management furnish Consultation and suggestion . Project-based services include detailed stockholder Make up Structural analysis Investor feedback surveys (including general and specific topics such as Mergers and acquisitions ), as well as potential institutional investors targeting and expansion plans. Usually, for new Come into the market The company is especially small and medium-sized Capital stock Companies, in order to better attract the interest of the capital markets, will generally use the best of investor relations consultants Standard of practice Best Practice, positive Professional service To improve its capital market competitiveness; For companies that have been listed for many years, especially the leading large equity companies in the industry, the internal investor relations team is relatively mature and can handle most of the daily work independently, so the project-based services of professional consulting companies are generally adopted. The database of professional consulting firms accumulated over many years and mature Research method Can provide more accurate research, analysis and recommendations.