The Impact of Investor Relations on Firm Value

• Main Authors: Hsien-Wen Tseng, 曾羨雯
• Other Authors: Keng-Hsin Lo
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/36599144570598521506

碩士 === 國立中央大學 === 企業管理學系碩士在職專班 === 98 === 　　　The Impact of Investor Relations on Firm Value 　　　　　　　　　　　　ABSTRACT In this study, from general investors’ perspective, we examine the impact of the investor relations on the investment willing of the market and on the firm value. Through the 217 questionnaires survey, we find that most investors agree the investor relations provide higher degree of information transparency and intercommunication which both can enhance investors following, the reliance, and their perception of firm value. Investor relations help to achieve the goal of creating an understanding of the firm, attracting information intermediaries, and targeting a desired investor base, hence, sufficient information disclosure and interaction is crucial key to investor relations success. We also learn that the information transparency affect the firm value directly, nevertheless, the intercommunication of investor relations effect the perception of firm value by the mediator of market reliance. Over all, our result indicates the investor relations are successful in impacting investors’ reliance and the perception of firm value.