中文摘要：

随着证券市场的规范化和股权文化的兴起，在发达的资本市场上，投资者关系已经成为上市公司处理与投资者之间的相互关系以及基于这种关系产生的各种权利、义务的分配和行使的契约，维系未来双方之间的价值，旨在实现双方的利益最大化。本文从关系契约的视角分析了投资者关系作为维系上市公司与投资者之间未来关系价值的契约，其产生的基础和维系双方之间长期合作的机制。投资者关系通过内生于双方的相互需求，在沟通基础上产生信任机制，形成合作关系，实现未来的关系价值，维持和提高上市公司与投资者之间合作关系和效率，降低交易成本和代理成本，构建企业竞争优势。

英文摘要：

Along with the stock market standardization and stockholder＇s rights culture starting, in the developed capital market, the investor relations already becomes the agreement contract which process produced each kind of right duty as- signment and exercises with investor~ between reciprocity and will maintain between the future both sides value, which was for the purpose of realizing the bilateral benefit maximization. This article will analyze the investor relations from the rela- tional contract angle of view to relate as the maintenance goes on the market between the company and the investor the fu- ture relates the value the contract, it produced the foundation and maintained between both sides the long - term cooperation mechanism. The investor relations based in the bilateral mutual demand, created the trust mechanism in the communication foundation, will form the cooperation relations and realize future relational value, the maintenance and the enhancement goes on the market between the company and the investor the cooperation relations and the efficiency, will reduce the trans- action cost and the agent cost, will construct the enterprise competitive advantage.