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Use of the internet by Irish companies for investor relations purposes

Author

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  • Niamh Brennan
  • Sorka Kelly

Abstract

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.

Suggested Citation

  • Niamh Brennan & Sorka Kelly, 2000. "Use of the internet by Irish companies for investor relations purposes," Open Access publications 10197/2931, Research Repository, University College Dublin.
    • Handle: RePEc:rru:oapubs:10197/2931
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    File URL: http://hdl.handle.net/10197/2931
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    References listed on IDEAS

    as
    1. Marston, C., 1996. "The organization of the investor relations function by large UK Quoted companies," Omega, Elsevier, vol. 24(4), pages 477-488, August.
    2. Niamh Brennan & Denis Hourigan, 1998. "Corporate reporting on the internet by Irish companies," Open Access publications 10197/5445, Research Repository, University College Dublin.
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    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. Caner Dincer & Banu Dincer, 2010. "An investigation of Turkish small and medium‐sized enterprises online CSR communication," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 6(2), pages 197-207, June.
    4. Paola Ramassa & Costanza Di Fabio, 2016. "Web-Based Financial Reporting: An Interpretative Model for Corporate Communications on Social Media," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2016(2), pages 79-112.
    5. Spanos, Loukas & Mylonakis, John, 2006. "Internet corporate reporting in Greece," MPRA Paper 42997, University Library of Munich, Germany.
    6. Pinto, Inês & Ng Picoto, Winnie, 2016. "Configurational analysis of firms' performance: Understanding the role of Internet financial reporting," Journal of Business Research, Elsevier, vol. 69(11), pages 5360-5365.
    7. Sarra Elleuch Hamza & Mouna Ben Ahmed Hedrich, 2008. "Les déterminants de la divulgation des informations financières via Internet adoptée par les entreprises tunisiennes : une démarche qualitative et quantitative," Post-Print halshs-00524888, HAL.

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