美国上市中概股公司IRM现状分析-工商管理专业毕业论文.docxVIP

摘 要 IRM（投资者关系管理）起源于美国，随着资本市场的不断发展和投资者自 身股权意识的觉醒，IRM 的理论研究和实践得到了不断丰富和发展。中国企业 于 20 世纪 90 年代末登陆美国资本市场，IRM 正式成为中国赴美上市公司的必 修课。与 3M、思科和联邦快递等美国本土优秀企业相比，中国在美上市企业的 IRM 还处在较低水平，在对投资者关系管理的理解和重视程度上，在投资者关 系管理工具的使用和推广上，在与境外投资者、分析师、媒体和监管机构的沟 通质量和技巧上均有较大改进空间。 2011 年，对所有中概股企业而言是具有深刻影响的一年。中概股危机的全 面爆发，让中国企业深陷诚信泥沼的同时，也深刻认识到了自身对美国资本市 场规则的陌生，对投资者和监管机构的疏于沟通以及对于危机应对和处理的生 涩。中国企业开始更加深刻地意识到投资者“用脚投票”所带来的严重后果， 也开始反省并着手加强企业的 IRM。 通过对美国上市的中概股公司 IRM 现状进行梳理和总结，对主要评价指标 的分析，指出目前中概股企业 IRM 中存在的问题，对比国际先进的 IRM 实践， 给出中概股 IRM 改进建议，帮助中国公司重视 IRM,规范和丰富 IRM 实践，使中 国公司真正融入海外资本市场，赢得投资者的信任和尊重，树立中国企业良好 的资本市场形象。与海外成熟资本市场相比，中国资本市场还是一个年轻的市 场，IRM 的发展也处在初级阶段。重视和发展 IRM 有利于中国资本市场的长远 发展，促进股东文化的成熟和繁荣，保护中小投资者的利益，保证 A 股市场理 性健康发展。 关键词：中概股，投资者关系管理，现状分析 Abstract IRM(Investor Relations Management),first appeared in the United States of Ameri- ca, has made huge progress in theory and practice with its capital market development and awareness of investor equity ownership. Since late 1990s, Chinese companies landed in US and began to practice IRM. Compared to those best-in-class IR perform- ers like American 3M、Cisco and FedExpress, Chinese companies stills fall far be- hind. They should improve themselves in terms of IR tools application 、 communications skills and consistency with investors, medias, analysts and regulators, as well as quality and quantity of disclosures. In 2011, the credit crisis of Chinese companies listed in us almost crashed those stocks. Stuck in the crisis, Chinese companies began to realize their weakness in un- derstanding of the local regulations, market rules and lack of communications with local investment community. There are hundreds of Chinese stocks listed in US, it shall help these companies better establish themselves overseas and build the trust with investment community by analyzing the status quo of Chinese companies IRM performance and it shall help the healthy and sound development of A share market by learning from their peers in mature market. IRM is defined as half art and half science. I