Investor Relations

In response to recent calls for a better understanding of the connection between social enterprises and their environments , we focus on the influence of funding relationships on social impact measurement in social enterprises in Vietnam. We utilize resource dependence theory and take a multiple case study approach to explore the issue. The findings suggest that in order to understand and explain the social impact measurement behaviours of social enterprises and funding organizations, it is critical to understand the interdependence of the parties rather than focus on the technical issue of measurement alone. The paper contributes to the relatively scant but burgeoning theoretical foundations of the social impact measurement and social entrepre-neurship domains. Résumé En réponse aux récents appels pour une meilleure compré-hension du lien entre les entreprises sociales et leurs environnements, cet article s'intéresse surtout à l'influence que les relations de financement ont sur le mesure de l'impact social au sein des entreprises basées au Vietnam. Il s'appuie sur la théorie de la dépendance des ressources et sur l'étude de cas multiples. Les résultats révèlent que pour pouvoir comprendre et expliquer les comportements liés à la mesure de l'impact social des entreprises sociales et des organismes de financement, il est crucial de prendre en compte l'interdépendance des parties au lieu de se focaliser uniquement sur l'aspect technique de la mesure. L'article contribue aux fondements théoriques relativement jeunes, mais prometteurs, de la mesure de l'impact social et aux domaines de l'entrepreneuriat social.

What should be the evolving role of the board in an uncertain global economy? What changes are needed in governance arrangements and board practices to accommodate greater diversity, ensure sustainable innovation and enable more confident and flexible responses to new opportunities and mutating risks? What needs to be done for sustainability to become a new business paradigm? These and related issues will be discussed at IOD India's 2016 London Global Convention for which this is the theme paper.

The 16 th London Global Convention on Corporate Governance and Sustainability will review the current and emerging roles and responsibilities of directors and boards, and explore ways of enhancing their effectiveness. This theme paper published as: Coulson-Thomas, Colin (2016), [Theme Paper for 16th London Global Convention] Governance for Sustainability and the Sustainability of Governance, 5 pages [ http://www.iodonline.com/images/lgc2016/theme-paper.pdf, Accessed 1st August]

Günümüzde küreselleşmenin etkisiyle yaşanan hızlı gelişmeler ve değişimler doğrultusunda ilaç sektöründe de hızlı gelişmeler gerçekleşmiştir. Dünya ilaç sektöründeki gelişmelere bağlı olarak Türk firmaları da geri kalmamış, dünyayla rekabet edebilir hale gelmiştir. Bu firmaların başında ise DEVA Holding gelir. Yapılan çalışmada ilaç sektörü detaylı bir şekilde incelenerek DEVA Holding'in sektördeki yeri ve genel yapısı incelenmiştir. 2003-2012 yılları arası faaliyet raporları incelenerek bir zaman serisi analizi yapılmış ve 2013-2014 yılları için bazı öngörülerde bulunulmuştur. Çalışma SWOT analiziyle zenginleştirilerek işletmenin güçlü yanları, zayıf yanları, fırsatları ve tehditleri de ifade edilmiştir. Son olarak Oran Analizleri yapılarak 2011 ve 2012 yılları arasındaki yüzdelik ifadelere yer verilmiştir. Sonuç bölümünde ise; DEVA Holding hem yatırımcı, hem de kreditör bakış açılarıyla değerlendirilerek, işletmeyi yatırımcıların niçin tercih etmeleri gerektiğiyle beraber dezavantajları da ifade edilmiştir. İncelenen finansal göstergeler neticesinde; DEVA Holding istikrarlı büyümesini sürdürmekte olup, aynı büyümeyi 2013 ve 2014 yılları için de göstermesi beklenmektedir.

The number one truck maker in the world, Ford Motor Company, and tire maker Bridgestone/Firestone are involved in a massive recall of faulty Firestone tires used mostly on the Ford Explorer vehicle.  Reports of numerous deaths and serious injuries indicated that the tire' treads had separated from their bases, causing vehicles to roll over.  Congressional hearings began while consumers were left to replace tires.

The study aims to analyse how investors communicate and build relationships in the “new” Social webs. In addition, the paper aims to identify several kinds of technologies which individual investors use in the online context. To this end, the paper first shows an overview about the impacts that new finance websites have on investor relations (IR) online and then it presents an examination of expert investment communities. Finally, the paper focuses on the main implications of the investment relations management, considering the fact that they are strongly influenced by the increasing importance of interpersonal communication in web 2.0.

Online communication has become one of the most frequently used tools for organizations to communicate with their stakeholders. Investor relations’ professionals are challenged to disseminate CSR and crisis situations in a manner that promotes satisfactory company reputation. This study aimed to analyze the effects of traditional and social media in crisis and routine messages of Dutch IR stakeholders. In an experiment, 57 participants evaluated either two traditional media messages (press releases) or two social media messages, one concerning a crisis situation and the other one concerning a CSR (routine) situation. Results indicated that responses towards the crisis messages held less positive attitudes towards the company and the message. Also, crisis messages had significant negative effects on intention to invest. No significant differences in preferences were found between traditional and social online media. IR stakeholders depended their actions on the types of messages of organizational situations rather than type of media. This study contributes to IR research areas concerning media preferences and differences in crisis communications. IR professionals should further elaborate on communication strategies that will diminish negative responses towards crisis messages.

The thesis has explored the role of positive corporate communication and equity storytelling in voluntary, non-regulated investor relations material. The research focused on whether positive practices such as talking about people, competence, culture, values, diversity and the use of narrative equity storytelling is present in non-regulated investor relations and if so, in what formats and to which extent.

Using data-driven content analysis, most recent Capital Markets Day and similar events’ power point presentations from companies of the OMX Nordic 40 index were analyzed for their transparency, content, tone, positive expressions and visual as well as textual positive practices. Findings showed that intangible assets as well as emotional and social capital were marginally represented in Nordic non-regulated investor presentations. These results are in clear conflict with recent studies on the importance of such intangible elements in investors’ decision-making process.

Consequently, five concepts of positive communication in equity stories were defined: People, Competence, Culture and values, Diversity and Narrative storytelling. Out of these only Narrative storytelling could be viewed as a result of positive equity storytelling while the other four were defined as demands for a positively operating environment.

The research suggests that instead of reducing information gap, the primary goal of positive equity storytelling in non-regulated IR presentations is to manage stakeholder’s expectations by building a positive investor story through the use of positive corporate communication. Communicating about a genuinely flourishing working environment manifests itself externally through equity stories that are both compelling and credible, without the need for self-appraisal or exaggeration.

Статья посвящена вопросам формирования особой сферы корпоративных коммуникаций-отношений с инвесторами (investor relations, IR) в мировой и российской практике. Обсуждаются особенности формирования предметного поля и организации профессиональной деятельности в области IR, ее задачи и функции, модели взаимодействия компаний с инвестиционным сообществом. Рассмотрены особенности институциализации профессиональной деятельности и современное состояние IR в России по сравнению с другими странами. В первой части статьи дается обзор особенностей и основных этапов развития отношений с инвесторами в зарубежных компаниях; обсуждаются практики организации IR в бизнесе, основные направления и результаты академических исследований в этой области. Вторая часть статьи посвящена российскому дискурсу отношений с инвесторами: обсуждаются проблемы организации профессиональной деятельности, образования и академических публикаций в области IR в нашей стране; обобщаются данные о структуре и содержании информации, представляемой службами IR крупнейших российских компаний. Информационной базой эмпирической части исследования служат Интернет-сайты первых ста крупнейших по объему реализации продукции за 2014 год российских компаний, входящих в рейтинг RAEX-600. В работе показано, что: (1) профессиональное сообщество специалистов в области ШК в России находится в стадии формирования, хотя институциональная основа его функционирования (профессиональные ассоциация и журнал, а также ряд специальных дисциплин в образовательных программах ведущих московских вузов) уже созданы; (2) интерес к академическим исследованиям за период 2003-2015 гг. вырос весьма незначительно, а в публикационной динамике выявлено влияние финансового кризиса 2008-2009 гг.; (3) практики представления информации для инвесторов на сайтах российских компаний не стандартизированы, наблюдаются заметные различия в структуре и объеме представляемой информации; (4) содержание информации, предназначенной инвесторам крупнейших российских компаний на их сайтах, в целом соответствует мировой практике IR. Ключевые слова: связи с инвесторами, отношения с инвесторами, инвестиционное сообщество, связи с общественностью, корпоративные коммуникации, АРФИ.
The article discusses the evolution and the state of the art of IR (Investor Relations) in Western and Russian companies. IR is considered as a particular area of corporate communicational practice and a field of academic research. Author reviews the history and stages of IR as corporate activity, IR functions and models of company's interaction with an investment community. The

Investors form an integral part of a company, and therefore the way a company communicates to its investors is crucial to their success. The aim of this study is to shed a light on the reactions of Dutch investors towards crisis and routine communication; incorporating both media channel selection and the influence of years of investment experience to obtain a clearer understanding of investor relation communication. Participants of this study were divided into two groups, one group saw a crisis and a routine press-release and the other group saw a crisis and a routine tweet. Results indicated that the media channel made almost no difference in the reaction of the respondent towards crisis or routine communication. Investment experience did seem to make a difference in the investor’s attitude towards the company, more experience yielded less significant results between crisis and routine communication. Therefore it could be stated that Dutch investors with more years of investing experience are less affected by the crisis message of a company they have invested in.

Purpose – The purpose of this study is to examine credibility attributes in a website disclosure venue. Design/methodology/approach – A total of 100 MBA and Masters of accountancy students participated in an experiment to assess whether specific disclosure characteristics impact the credibility of optimistic, forward-looking voluntary disclosures. The disclosure characteristics examined include management's ability to meet the current earnings forecast

This paper investigates the internet corporate reporting practices of Greek listed companies. The aim is twofold: to contribute to the growing literature by examining internet corporate reporting for a small open European capital market; and to present a model of online dissemination of information by companies of all size in Greece. An Internet Disclosure Index (IDI) of 50 items is constructed, which incorporates content and presentation criteria. A total of 141 corporate websites were screened, and both partial and aggregates scores were produced. The scores show that the Greek companies have a lot of work to do in order to enhance the investor relations activities on the internet. On average, the larger, more established companies have significantly higher levels of disclosure for both financial and non-financial data. The contribution of this study is to describe how corporate reporting practices have evolved in an emerging European country, where investor confidence was considerably damaged by speculative events of 1999 and 2000. This study also provides some useful insights into corporate reporting via the internet in smaller listed companies, which have not been researched extensively

Investor relations officers say that one of the biggest challenges of their work is proving to the senior management that investor relations contributes value to the organization. This study provides an initial step in evaluating investor relations' contribution to an organization's bottom line. The study first offers a theoretical overview of academic and professional literature dealing with the contribution of investor relations to the organizational bottom line. Second this theoretical overview serves as a starting point for an empirical investigation organized as a Delphi panel. Investor relations officers from corporations and investor relations agencies were recruited to participate in the panel and share their practical insights in response to the theoretically identified indicators of investor relations value. As a result, the study found 4 key areas of investor relations contribution: fair share price, improved liquidity of stock, enhanced analyst coverage, and building and maintaining investor relationships.

International research in the D&I field is not very common – according to an assessment of Alain Klarsfeld, editor of a handbook in this very area. While our research in the field of Diversity Management takes a specific practical perspective, we belief it will be of interest to you to have an overview of our studies at hand.

Our new research compendium provides descriptions of surveys, studies and analyses that we completed from 2001 to 2016. While the individual studies provide insight into European Diversity practices or global trends, the overview also allows seeing the overall trends and developments of D&I over decades.

The document includes a number of links to our unique knowledge portal, the Diversity Mine http://en.DiversityMine.eu which we hosts more than 1,800 articles.

We are looking forward to feedback and comments on the information provided.

The term ‘investor relations’ (IR) often refers only to the very formal and primarily anonymous relations and communication between publicly traded companies and their (potential) shareholders. Especially for young and not yet publicly traded companies (so-called start-ups), it can be shown that the individual contact to a very small and well-known group of investors (e.g., venture capital investors) is essential for survival. Using conjoint analysis, this paper examines the communicative needs of venture capital investors, as they are the formative influence on the communication strategy of young, unlisted start-ups.

To cite this article: Tomasz Gackowski (2017) The idea of investor relations in the modern economy: a communication approach, Economic Research-Ekonomska Istraživanja, 30:1, 1-13, ABSTRACT The main goal of this article is to present systematic deduction of the idea of Investor Relations (IR) in a communication perspective. I have made a several specific distinctions to introduce the current concept of IR and how it has changed over the years. Moreover, I try to identify the most important aims of IR, as well as differentiate between its obligatory and optional aspects. The article includes comments on different sorts of information that is conveyed by companies to the financial community. The article present the differences between various definitions of IR. Furthermore, the article describes in what way the concept of IR originated and how it has evolved over the course of time – what kind of factors led to the changes in the significance of IR. Moreover, the article also outlines the basic tasks of an IR department, explaining the difference between IR and public relations (PR) and determining what is more powerful when it comes to shaping the opinions of the financial community: non-financial factors or financial factors. Consequently, the article presents a new reputational approach to the idea of IR in the modern economy.

Purpose-The purpose of this paper is to determine whether companies recognised for the quality of their sustainability reporting are also adopting investor relations (IR) best practices for their IR webpages. Quality communications to all stakeholder groups may then speak to organisational transparency and integrated corporate communication management (CCM). Design/methodology/approach-An ordinary least squares regression model was developed to test the hypothesis that companies with quality sustainability reporting also adopts best practices in online IR. Sustainability reporting quality was signalled by inclusion of the company in a socially responsible investment (SRI) index. IR quality was proxied by disclosure scores compiled from content analyses of investor relations webpages. Findings-This study find that inclusion in the SRI Index was positively and significantly associated with online IR quality, while controlling for other variables associated with voluntary disclosure behaviour. Practical implications-For retail and institutional investors in SRI Index companies, cost of information discovery is reduced as they can use the investor relations webpages as comprehensive source. Originality/value-This study contributes to the literature on corporate transparency by operationalising reporting "transparency" in that it considers the combined communications output to both financial and non-financial stakeholder groupings. A 2 Â 2 conceptual framework for corporate disclosures is proposed that reconciles legitimacy theory and voluntary disclosure theory as motivations. It also contributes to the paucity of research on the links between public relations and investor relations in corporate communications by demonstrating a joint contribution to transparency.

PT Semen Indonesia (SMGR) diresmikan di Gresik pada tanggal 7 Agustus 1957 oleh Presiden RI pertama, Ir. Soekarno, dengan nama PT Semen Gresik. Kala itu, Semen Gresik memiliki kapasitas terpasang 250.000 ton semen per tahun, dan di tahun 2013 kapasitas terpasang mencapai 30 juta ton/tahun.
Pada tanggal 20 Desember 2012, melalui Rapat Umum Pemegang Saham Luar Biasa (RUPSLB), Perseroan resmi mengganti nama dari PT Semen Gresik (Persero) Tbk, menjadi PT Semen Indonesia (Persero) Tbk. Penggantian nama tersebut, sekaligus merupakan langkah awal dari upaya merealisasikan terbentuknya Strategic Holding Group yang ditargetkan dan diyakini mampu mensinergikan seluruh kegiatan operasional. Saat ini kapasitas terpasang Semen Indonesia sebesar 29 juta ton semen per tahun, dan menguasai sekitar 42% pangsa pasar semen domestik. Semen Indonesia memiliki anak perusahaan PT Semen Gresik, PT Semen Padang, PT Semen Tonasa dan Thang Long Cement.

The article discusses the evolution and the state of the art of IR (Investor Relations) in Western and Russian companies. IR is considered as a particular area of corporate communicational practice and a field of academic research. Author reviews the history and stages of IR as corporate activity, IR functions and models of company's interaction with an investment community. The main objective of the article is to compare the features of a professional institutionalization and the current state of IR in Russia and in other countries. The empirical part of the research is based on the information from the Internet sites of the first hundred of the largest (in terms of sales) Russian companies entering the RAEX-600 rating.

Investors who accessed information over the Internet to guide their investment decisions were asked where they go on the Internet to get that information. The most often mentioned sources were individual company websites (38%), followed by private financial investment information websites (24%), specific funds (10%), Yahoo (9%) and news or newspaper sites (8%). Only about 1% of investors who use the Internet cited the SEC website and other government agency websites

AYOO SEGERA DAPATKAN BISNIS BARU ANDA !! Sebagai:
AGEN, SUPPLIER, DISTRIBUTOR, DROPSHIPER, TOKO, PABRIK
chemical kimia industri dan produk kebersihan
seperti :
parfum laundry, deterjen bubuk/cair, softener, aneka penghilang noda,
pelicin seterika, sabun cuci tangan, sabun cuci piring, pembersih kaca, karbol , shampo motor/mobil, semir ban, dll
di kota anda !!
( bisnis prospektif, mudah dijalankan, pangsa pasarnya luas )

In this paper, we describe a case-based reasoning approach for the semi-automatic generation of responses to email messages. This task poses some cha llenges from a case-based reasoning perspective especially to the precision of the retrieval phase and the adaptation of textual cases. We are currently developing an application for the Investor relations domain. This paper discusses how some of the particularities of the domain corpus, like the presence of multiple requests in the incoming email messages, can be addressed by the insertion of natural language processing techniques in different phases of the reasoning cycle.

In this fast-moving digital landscape, individual investors contemplate whether to be loyal to a specific company brand or not because of the proliferation of online financial communications. Hence, companies have to be attentive of the implications of the current marketing trend and the influence of the new media towards investors' behavior. With the increasing prominence of philanthropic marketing and online generated content, this study intends to understand which factors will influence individual investors' behavior in terms of their brand attitude and brand loyalty. Findings from this study will facilitate companies to improve their communication online and subsequently boost brand loyalty. Finally, this study will contribute to the theory of reasoned action (TRA) by integrating the signaling theory and consumer-company identification (C-C identification) concept within the financial communications perspective as limited studies have been steered using these theories and concept in trying to explain investors' brand loyalty.

This paper deals with corporate governance presenting a framework which takes a broader view than is normally done. 2 In so doing the paper will point to the fact that companies are subject to scrutiny from other actors than investors. A first such significant scrutinizer is governments. Their role in relation to corporations has in recent decades become particularly examined

This study of Irish company investor relations material on the Internet was carried out in two parts. Firstly, Irish listed companies were surveyed for Web sites and investor relations material on the sites found was analysed.

Results showed that 66 (67%) Irish listed companies had a Web site. Of these, 53 (84%) contained investor relations material. The most common type was background information on the company. The least common was background information on the industry in which the company operates.

Despite the many new forms of investor relations activities now possible using technology inherent to the Internet (e.g. the option to download financial information in spreadsheet format, to participate online in company meetings, press and analyst conferences or to take part in Internet chat sessions with the investor relations department) none were featured on Irish publicly listed company (plc) Web sites.

In the second part of the study, a content analysis of investor relations material on ten third-party sites was performed. The coverage on these third-party sites of Irish listed companies was also analysed.

Results showed that nine (90%) sites provided some form of investor relations material free of charge to users. Share prices were provided on 90% of third-party sites. Historic share prices were found on six (60%) sites. None of the sites offered background information on different industries. The most commonly featured financial information was a direct e-mail order service for annual reports. Only one site, Yahoo! Finance, availed of the new technology inherent to the Internet by providing ratios and other information in a format that could be downloaded onto a spreadsheet.

No site covered all Irish plcs. The site with the highest coverage covered 93 Irish companies (94%) while the lowest covered 71 (72%) companies.

The purpose of the work is to establish a relationship between the information
asymmetry and the level of enterprise’s willingness to disclose information and between the
asymmetry index of investor relation (AIR) and the metrics describing the value of investors’
expectations in companies listed on the Warsaw Stock Exchange. Publicly traded companies
have a major influence over the indices of information asymmetry in relations to external
shareholders. For this reason, for the purpose of this study an asymmetry index of investor
relations (AIR) has been constructed. This metric represents a company’s ability to convey
information about its operations. AIR was based solely on the guidelines of value reporting as
proposed in the IC Rating™ Model [Jacobsen et al. 2005]. Adopting the IC Rating Model as
a basis for the AIR allowed to encompass all the information voluntarily disclosed by companies
to the market, and not only the disclosures required by legal regulations. As the metrics
describing the value of investors’ expectations were used: cost of equity (CE), future EVA
growth (FGV) and threshold market value added (threshold MVA). The study has been based
on stock market data, financial reports, and an analysis of the information published on the
websites of companies listed on the Warsaw Stock Exchange within the continuous trading
system, and for which all data necessary for the relevant calculations were available. As it has
been revealed there exist statistically significant correlations between asymmetry indicators
and investors’ expectations. Companies with a high willingness to disclose information are
more capable of creating investors’ expectations. There are also statistically significant correlations
between the indicators that represent the level of information asymmetry in investor
relations (AIR) and companies’ results