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《Journal of Management Case Studies》 2011-05
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Investor Relationship Management,Active Institutional Shareholder Monitoring and Corporate Value:A Case Study of Guoyang New Energy

GAO Li 1,MA Lian-fu2,LU Xin3 1.International Business School,Tianjin Foreign Studies University,Tianjin 300204,China; 2.Research Center of Corporate Governance,Nankai University,Tianjin 300071,China; 3.Shanxi Guoyang New Energy Co.,Ltd,Beijing 101149,China  
We construct a theoretical model of active institutional shareholder monitoring based on investor relationship management in this paper.On this basis,we select Guoyang New Energy as the case study object,and analyze its investor relationship management activities,its influence on active institutional shareholder monitoring and the subsequent value effects.We find that the investor relationship management activities of the company are guided by the notion that value creates motivation.In this way,Guoyang New Energy not only performs the function of financing as a listed company,but also provides a good channel for active shareholder monitoring. Through choosing target investors,disclosing forward-looking information and establishing mutual communication,both listed companies and investors have gained value and achieved a win-win situation and value maximization.
【Fund】: 教育部人文社会科学研究青年基金项目“基于投资者关系管理的机构股东积极监督研究——作用机理与价值效应的分析”(10YJC630055);; 国家自然科学基金面上项目“基于投资者关系管理的上市公司治理优化研究”(70872050)
【CateGory Index】: F832.51;F426.2
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