“How does good investor relations affect a company’s value?” is often an important consideration for many small and medium-sized companies when deciding whether to invest resources in investor relations. Our previous volumes of Inside Investor Relations provided a series of guidelines for a company to establish a good investor relation communication system. However, it requires companies to invest additional resources to build up such a system and create long-term reputations. As a result, many small and medium-sized listed companies would think that there is no need to offer good investor relations and should only focus on company operation, or only communicate with investors when they have better financial performance. In this volume of Inside Investor Relations, we use quantitative data to examine how much additional value the capital market is willing to pay for “good investor relations”. This “additional value” enables a company to maximize its shareholder value, as well as raise capital at a lower cost than peers to facilitate its growth.