Investor Relations on the Internet: A Survey of the Euronext Zone

This study investigates the investor relations activities on the Internet of companies listed on the Euronext stock exchange. For this purpose, the homepages of the 50 largest listed companies in each of the countries Belgium, France and the Netherlands were searched and screened for investor relations items. Results obtained by using a three stages model show that most companies in the Euronext zone are in the second stage of Internet investorrelations. In this stage, information available through other sources is combined to better inform investors. In the third stage companies use the full interactive possibilities of the Internet for investor relations purposes. French and Dutch companies use the Internet for investor relations purposes more widely and more intensely than do Belgian companies. The study also revealed a size effect; large companies use the Internet for investor relations purposes more extensively than do smaller companies. This conclusion holds for each of the three countries. The leading companies in France and the Netherlands are either in the third stage of Internet investor relations or they are ready to enter it.