【作者】 徐刚；

【导师】 李建华；

【作者基本信息】 中南大学 ， 管理科学与工程， 2005， 博士

【摘要】 近年来,我国证券市场上欺诈隐瞒事件令人触目惊心,显现了我国上市公司在投资者关系管理(IRM)方面的严重缺失。IRM是资本市场走向成熟的标识,作为上市公司运用金融、沟通和营销等方式,与投资者交流公司经营信息,以协调相互关系的战略性过程,它的行之有效,既有利于提升上市公司的市场声誉及维护投资者的投资权益,实现各自价值的最大化,也有利于增强资本市场的投资信心和股东意识,促进其良性、健康发展。为此,论文以IRM为研究对象,以期提出优化我国上市公司IRM的现实路径。 以上市公司IRM的涵义和现实状况为前提,论文通过国外经验借鉴、国内实证研究以及价值分析和论证,认为这很大程度上在于规范方面的原因,规范化取向乃上市公司IRM的不二选择。因此,论文从规范化维度出发,在重新界定规范化依据、剖析规范化机理的基础上,通过综合运用统计学、传播学、营销学、信息学、心理学、伦理学及法学等相关理论和方法,以期对我国上市公司规范化IRM模式的构建和应用进行探究和分析。 我国上市公司IRM规范化的运作依据不仅限于一般管理意义上的组织制度,也包括国家法律、社会道德及公司文化等,并且由于它们在创制主体和保障机制上的分歧,使规范化的运作机理显示了双重性特征,在支撑机制上形成了他律性机制和自律性机制,在构成机制上则产生了主动式机制和被动式机制,并分别显示了威慑功用和倡导功用,体现了“守信”本质和“融心”本质。 上市公司IRM规范化的二维作用机理直接导致了我国上市公司IRM模式在构架形态也不是单一的,而是存在着两种切实可行的IRM模式形态,即消极性模式和积极性模式。消极性模式和积极性模式由于在目标、主体、客体、内容及方式等各构架要素上的明显差异,分别形成了扇形模型和圆形模型。扇形模型和圆形模型不同于传统的传播模型,其作为证券市场中的商业沟通模型,以发送者、接收者、参与者乃至影响者及沟通信息和沟通渠道为模型的核心因素,彰显了IRM中上市公司独特的模式状态。更多还原

【Abstract】 In recent years, fraud and disguise leave us all speechless from shock in our country stock market, and show that IRM of our country listed company imperfect and absent seriously. IRM is the symbol of capital market tending towards maturity, as a strategic process that listed company communicate corporate management information and harmonize relationship with investor by using the disciplines of finance, communication and marketing, its effectiveness will not only be propitious to improve reputation of listed company and protect benefits of investor and maximize their value, but also be in favor of enhancing investor confidence and stockholder consciousness in capital market , advancing good and healthy development of capital market. So, author regards IRM as the project of the thesis, and expect to put forward the best actual way of IRM of our country listed company.On the basis of the meanings and status of IRM of listed company, dissertation considers that it roots in scarcity of criterion in a sense, based on overseas resources reference, domestic demonstration analysis and value reasoning, so standardization is only choice of our country listed company .So, based on defining standardization gists and anatomying its mechanism, the dissertation emphasize on demonstrating frame form and operation circulation of IRM of our country listed company theoretically and positively in view of criterion,with theories and ways of statistic, communication theories, marketing, informatics,psychics, ethics and law.Standardization running foundation is not limited to organization institution in management meaning, but includes country law, society moral and corporate culture, etc. And because there are divergence among these measure resources in the aspects of establishment subject and guarantee mechanism, which are measure resources of IRM of our country listed company, function mechanism of IRM reveal dual property. And it gives birth to restriction by others and restriction by oneself insupport mechanism, and comes into being positivity and passivity in the construct mechanism ,and express function of overawe and sparkplug , and embody the essence of "keep faith" and "seize heart" respectively.Dual function mechanism in standardization of IRM of listed company negativity directly lead frame form of IRM model of our country listed company not to be single, but to exist two suitable form of IRM model, which are negativity model and initiative model. Because negativity model and initiative model is obviously distinct in the construction factors such as goal, subject, object, content and manner, they engender sector operation model and circle operation model.sector operation model and circle course model are different to traditional one-side communication model and two-sides communication model, and as commercial communication model in the stock market, their core factors consist of sender, receiver, participator, influencer and communication information, communication channel and display particular model state of listed company in IRM.Although constitution factors have determined that negativity model is primary form of standard IRM of listed company and established that initiative model is advanced phase of standardized IRM of listed company, theory and demonstration analysis have showed that negativity model and initiative model still have different application scope by themselvies, they are best choice of listed company with low faith and listed company with high faith based on their present condition separately. Of course, no matter what sector operation model and circle operation model, they have to be safeguarded by supervision of government, sustaining of media, assortment of intermediary organs and recognition of high manager, and can be verified their practice effectiveness with synthesis evaluation way according special estimation system with credit and avail of IRM of listed company.更多还原