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The organization of the investor relations function by large UK Quoted companies

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  • Marston, C.
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    Abstract

    The results presented here are based on a survey, in which 61 % of the top 500 UK quoted companies participated, on the organizational aspects of company investor relations activities. The survey established the involvement of the various directors in managing and executing the investor relations function. The Chief Executive and Finance Director were most heavily involved, and the average board of directors spent 37 days a year on investor relations. 52% of respondents had a designated investor relations officer. The most common organizational arrangement was for investor relations to be part of the Finance Director's department. The average salary bill and budget for the investor relations function were £107,000 and £180,000 respectively. 79% of respondents used an external investor relations consultant. Only 19% of resopondents had a formal policy or written description stating the objectives and responsibilities of the investor relations function. Mutlivariate analysis indicated that the existence of an investor relations officer in the company was associated with size, overseas listings and positive opinions on the value of investor relations meetings. Companies that had been privatized and those with a high firm specific risk were more likely to have an investor relations officer.

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    Bibliographic Info

    Article provided by Elsevier in its journal Omega.

    Volume (Year): 24 (1996)
    Issue (Month): 4 (August)
    Pages: 477-488

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    Handle: RePEc:eee:jomega:v:24:y:1996:i:4:p:477-488

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    Keywords: communications corporate empirical finance management shareholders;

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    Cited by:
    1. Guillamon-Saorin, Encarna & Sousa, Carlos M.P., 2010. "Press release disclosures in Spain and the UK," International Business Review, Elsevier, vol. 19(1), pages 1-15, February.
    2. Geerlings,Jorn & Bollen,Laury & Hassink,Harold, 2002. "Investor Relations on the Internet: A Survey of the Euronext Zone," Research Memorandum 085, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    3. Iatridis, George Emmanuel, 2011. "Accounting disclosures, accounting quality and conditional and unconditional conservatism," International Review of Financial Analysis, Elsevier, vol. 20(2), pages 88-102, April.
    4. Roberts, John & Sanderson, Paul & Barker, Richard & Hendry, John, 2006. "In the mirror of the market: The disciplinary effects of company/fund manager meetings," Accounting, Organizations and Society, Elsevier, vol. 31(3), pages 277-294, April.

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