Using the COVID-19 crisis as a quasi-natural experiment, this study explores the value of online investor relations (OIR) on the official investor interaction platforms (IIPs). The results show that OIR are positively associated with stock returns during the crisis. This indicates that firms...

The objective of this paper is to investigate the role of Investor Relations (IR) in the performance of companies listed on the Bucharest Stock Exchange. The study is motivated by the findings in the literature that investor relations may boost information disclosure, analyst following,...

Firms have increasingly used social media such as Twitter to disseminate corporate disclosures, particularly since the regulation of these platforms by the Securities and Exchange Commission (SEC) in 2013. However, research on social media dissemination is still limited. Even though a few...

Organizations need to both differentiate themselves while conforming to their audiences’ expectations. To meet this demand, organizations may span different categories. However, valuing spanners is challenging for audiences. We contend that spanners’ valuation depends on category nesting, as...

We examine how investor relations officers (IROs) approach disclosure decisions in private meetings with investors. In these settings, IROs face conflicting pressures to maintain a “level playing field” for all investors while also pleasing preferred investors. We experimentally test how...

We examine the voluntary disclosure theory’s prediction of heterogeneous stock market reaction to M&A conference calls attributable to the uncertainty of investors’ response. Using a series of quantile regressions, we find that the incidence of conference calls is associated with both...

A dedicated investor relations (IR) function facilitates direct and ongoing dialogue between management and shareholders. This paper examines whether this form of engagement mitigates activism that relies upon support from other shareholders. We find that IR engagement is associated with...

This paper examines the practice of hiring financial analysts as investor relations officers (IRO). We posit that analysts-turned-IROs (AIROs) have a competitive advantage in communicating with investors, thereby lowering the effort expended by the investment community to process corporate...

In Deutschland hat sich seit Anfang der 2000er durch die zunehmende Finanzmarktorientierung der Unternehmen die Funktion Investor Relations (IR) als Managementtätigkeit etabliert. Auch wenn die Aufgabenfelder der Investor Relations inzwischen bekannt sind, liegen bislang kaum Erkenntnisse zur...

In Deutschland hat sich seit Anfang der 2000er durch die zunehmende Finanzmarktorientierung der Unternehmen die Funktion Investor Relations (IR) als Managementtätigkeit etabliert. Auch wenn die Aufgabenfelder der Investor Relations inzwischen bekannt sind, liegen bislang kaum Erkenntnisse zur...

Übergreifendes Ziel dieser Arbeit ist es, die Professionalisierung von Investor Relations (IR) in börsennotierten KMU in Deutschland zu erforschen sowie zu ihrer zukünftigen Etablierung in den Unternehmen beizutragen. Zu diesem Zweck analysiert die Autorin theoretisch und empirisch gestützt...

Using a panel of survey-based annual investor relations (IR) rankings of European companies, we provide evidence suggesting that the marginal benefit of IR is greater in countries with capital markets that are less outside-shareholder oriented. For firms located in these countries, we find that...

We explore the role of investor relations (IR) in debt markets. Using earnings announcements as a laboratory, we examine whether, when, and to what extent IR departments help credit investors assimilate information. We find that the presence of IR decreases (increases) the negative (positive)...

This paper examines the practice of hiring financial analysts as investor relations officers (IRO). We posit that analysts-turned-IROs (AIROs) have a competitive advantage in communicating with investors, thereby lowering the effort expended by the investment community to process corporate...

We examine how the ordering of information within quarterly earnings announcements influences investor response to those announcements. Specifically, we examine whether earlier discussion of earnings information, and earlier discussion of qualitatively positive or negative information, is...

Recent regulatory amendments aimed at modernizing disclosures and enhancing their usefulness focus on repetition and interactivity within firms' disclosure filings. We use two experiments to provide evidence on the effects of disclosure repetition (repeating of information in the filing) and...

In this study, we examine whether firms' engagement in Investor Relations and Stakeholder Communication (IRSC) activities reduce the cost of information asymmetry at the time of external financing. We also analyze the intermediary role of financing source (debt vs equity) and the existing level...

Purpose: The purpose of this paper is to contribute to the existing literature in behavioral finance by investigating the role played by company's investor relations website/webpage in inducing the individual investor's intention to invest in the company. The study investigates the role of...

This paper defines sovereign investor relations (IR) and places it in the context of modern debt management theory. It highlights the role that improvements in IR and debt transparency can play in improving the cost-risk tradeoff in debt management, supporting market access and acting as a first...

We examine the influence of investor conferences on firms' stock liquidity. We find that firms participating in conferences experience a 1.4% to 2.8% increase in stock liquidity compared to non-conference firms. Consistent with investor conferences improving firm visibility, the increase in...

In der aktuellen Finanzmarktkapitalismusdebatte steht vor allem die Macht der Investoren im Mittelpunkt. Das Unternehmen als handelnder Akteur wird in dieser Debatte weitestgehend ausgeblendet. Um die Einflussmöglichkeiten des Managements zu untersuchen, wird in diesem Beitrag der Blick auf die...

Grundlagen und rechtliche Anforderungen der Kapitalmarktkommunikation -- Steuerung von Investor Relations und Finanzkommunikation -- Unternehmensbewertung und Corporate Governance -- Zielgruppen und Instrumente -- Unternehmensberichterstattung und Integrated Reporting -- Börsengang,...

Introduction -- Section 1: The financial markets: An overview -- Chapter 1.1: The benefits and drawbacks of a stock market listing -- Chapter 1.2: The formation of stock prices -- Chapter 1.3: Ethics in the financial markets – why a solid IR framework is key -- Chapter 1.4: Understanding...

We conduct a detailed analysis of investors in successful initial coin offerings (ICOs). The average ICO has 4,700 contributors. The median participant contributes small amounts and many investors sell their tokens before the underlying product is developed. Large presale investors obtain tokens...