基于市场价值的投资者关系管理研究——以京沪高铁为例  

Research on Investor Relations Management Based on Market Value:Taking the Beijing-Shanghai high-speed railway as an example

作　　者：李莉[1] 周书羽 刘奕惠 杨倩妮 LI Li;ZHOU Shuyu;LIU Yihui;YANG Qianni

机构地区：[1]南开大学商学院

出　　处：《新经济》2025年第2期57-71,共15页New Economy

基　　金：“系统项目——软科学(揭榜挂帅)京沪高铁公司高质量发展研究”(京沪科研2022-8)。

摘　　要：随着资本市场服务经济高质量发展的地位和功能不断凸显,上市公司投资者关系管理的重要性愈发显著。本文以“中国高铁第一股”京沪高铁作为研究对象,通过深入剖析其在投资者关系管理方面的转变历程,结果发现:在应对突发事件时,上市公司能够通过投资者关系管理和信息披露的优化进行市值管理,具体过程可分为三个阶段,分别是发现机遇阶段、把握机遇阶段和发展机遇阶段。(1)在发现机遇阶段,企业须对眼前的投资者关系管理和信息披露现状进行重新评估,以发现问题并建立优化方案。(2)在把握机遇阶段,企业应根据优化方案进行投资者关系管理实践,并动态调整与之相匹配的信息披露逻辑。(3)在发展机遇阶段,企业基于之前成功应对危机的探索经验,对相关工作开展完整的战略规划,为未来实践奠定良好基础。在此基础上,提出有关研究启示以及未来展望。With the increasingly prominent position and function of the capital market in serving the high-quality economic development,the importance of investor relations management for listed companies has become more prominent.This article takes the Beijing Shanghai high-speed railway,the“first stock of China’s high-speed railway”,as the research object.Through in-depth analysis of its transformation process in investor relations management,it is found that when dealing with emergencies,listed companies can manage market value through optimization of investor relations management and information disclosure.The specific process can be divided into three stages:discovering opportunities,seizing opportunities,and developing opportunities.(1)In the discovering opportunities stage,enterprises need to reevaluate the status of investor relations management and information disclosure,identify problems,and establish optimization plans.(2)In the stage of seizing opportunities,enterprises should carry out investor relations management practices based on optimization plans and dynamically adjust the information disclosure logic that matches them.(3)In the stage of development opportunities,based on the exploration experience of successfully responding to crises in the past,enterprises carry out complete strategic planning for related work,laying a good foundation for future practice.On this basis,relevant researc h insights and prospects are proposed.

关 键 词：投资者关系管理 信息披露 价值管理 

分 类 号：F272.3[经济管理—企业管理]