Investor Relations Management and Firm Performance-An Empirical Research Based on the Perspective of Endogeneity

In order to find the connections between investor relations management and firm performance in emerging and transition Chinese stock market, we build the theory model and carry empirical studies on the effect of investor relations management on firm performance with the datum of Chinese securities market. Based on the above analysis, we investigate the endogeneity of the correlation between firm value and investor relations management of Chinese listed firms. The empirical results indicate that investor relations management has an impetus effect on firm performance and will be better if the endogeneity of investor relations management is controlled. AT the same time, we also find the firm performance has significant feedback effect on investor relations management.