| Abstract [eng] |
During the last few decades the structure of companies’ financing all over the world has changed. The transition from bank loans to direct investments to companies and stock market made the risk related to credits, liquidity and cross-rate changes decrease. However, the risk of the quicker capital’s expenditure due to short-term changes in economy and the hopes of higher investment returns in other sectors or markets increased. Nowadays there are no major difficulties in capital’s market to invest in USA or Bulgaria, or to buy stocks in Somali’s or Tokyo’s market. The capital has become mobile among companies and countries. This directly influences the values of companies. When investors retreat, the stock offer increases and company’s market value decreases. The possibilities of successful expansion are also being limited. This work therefore intends to point out that the investors’ relations have to be a part of joint companies’ strategy. Trying to achieve this aim, the first chapter deals with the particularity of a joint company in comparison to other forms of companies. The most significant differences, i.e. capital’s structure and management are being talked about in greater detail. Further on in this chapter the influence of capital’s distribution and management on the realisation of a strategy is being analysed. In the second chapter the maximization of company’s value is being discussed, as it is the main target of the shareholders of joint companies’. The papers’ exchange, primary and secondary stock markets and their participants who influence upon the stock price are also considered. Summing up, the activities of investors in order to ensure the right evaluation of the company are being analysed. The third chapter is devoted to investor relations. Therein the process of communication with investors is being looked at. The definition of company’s position is presented along with means and methods of communication while analysing the role of investor relations specialist and manager in the process of investor relations. The research evaluating the investor relations program in one Lithuanian company can be found in the fourth chapter. It was arrived at a conclusion that the investor relations involvement into company’s strategy allows to reach the target of the company, which is to ensure the capital while maximising the value for shareholders. |
