The organization of the investor relations function by large UK Quoted companies
AbstractThe 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 Â£107,000 and Â£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 InfoArticle provided by Elsevier in its journal Omega.
Volume (Year): 24 (1996)
Issue (Month): 4 (August)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description
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