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Article
Publication date: 22 January 2021

Christian Pieter Hoffmann and Sandra Binder-Tietz

While several extant studies have discussed the strategic importance of investor relations (IR) for listed corporations, few have tried to apply findings from strategic…

Abstract

Purpose

While several extant studies have discussed the strategic importance of investor relations (IR) for listed corporations, few have tried to apply findings from strategic communication research to IR. Therefore, little is known about the planning and evaluation of IR programs, with even less data available on IR's involvement in top management decision-making. The purpose of this paper is to examine research on planning and evaluation practices in German Prime Standard corporations' IR departments.

Design/methodology/approach

The method entailed a survey of 51 heads of IR departments from the largest corporations listed on the Frankfurt Stock Exchange concerning the topic of measurement and evaluation.

Findings

The findings highlight an intermediate stage in the professionalization of the still-emergent IR function. While IR has been established as an independent function with some consideration in strategic leadership, strategic management of the function is still evolving. This study shows that while some form of planning is the norm, IR departments at smaller companies tend to focus more on departmental objectives than on deriving objectives from the corporate strategy. Also, systematic evaluation remains lacking in many smaller companies' IR departments. As a result, IR managers from smaller companies are consulted less frequently during top management meetings on corporate strategy.

Research limitations/implications

This study is based on data collected only from German Prime Standard corporations. While satisfactory in the context of quantitative IR studies, the response rate from the reported survey was only 32%. Furthermore, the average level of strategic IR management among German listed companies actually may be somewhat lower than reported in this paper, as large listed companies are somewhat overrepresented in the sample.

Originality/value

This study addresses an apparent research gap, i.e. to date, little is known about the strategic management of the IR function, especially in a non-US context. This analysis shows that theories and frameworks from strategic communication management can be applied to the IR function.

Details

Journal of Communication Management, vol. 25 no. 2
Type: Research Article
ISSN: 1363-254X

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Article
Publication date: 6 February 2017

Christian Pieter Hoffmann and Lea Aeschlimann

The purpose of this paper is to analyze antecedents of listed corporations’ propensity to adopt online shareholder platforms. It differentiates two strategic investor…

Abstract

Purpose

The purpose of this paper is to analyze antecedents of listed corporations’ propensity to adopt online shareholder platforms. It differentiates two strategic investor relations (IR) frames, shielding and engaging, and explores their effect on ICT adoption.

Design/methodology/approach

Findings are based on a survey of 82 corporations listed on the Swiss, German and Austrian stock exchanges. The authors apply multiple linear regression analysis to test a multi-faceted adoption model.

Findings

The authors find that resource constraints, familiarity with online media and efficiency considerations drive listed corporations’ willingness to adopt online shareholder platforms. Beyond these operational antecedents, strategic considerations significantly affect adoption: IR functions geared toward shareholder engagement are more likely to apply interactive platforms, while IR departments geared toward shielding the corporation from shareholder interventions will be less attracted to the participatory affordances of online media.

Research limitations/implications

This study is limited in scope to corporations listed on the Swiss, German and Austrian stock exchanges and cannot account for antecedents distinct to other regulatory environments.

Practical implications

IR functions need to carefully develop and apply communication strategies, which in turn will inform ICT adoption. The authors find that IR departments geared toward a two-way symmetrical communication model are more attracted to the participatory affordances of online platforms. Thereby, they are more likely to innovate by employing current digital applications.

Originality/value

This study contributes to research on the benefits of digital media to two-way symmetrical and dialogic corporate communications. It is the first study to explore these relationships in the context of IR. It further contributes to research on the strategic role of IR by developing and applying two distinct strategic frames to the subject of ICT adoption in IR.

Details

Corporate Communications: An International Journal, vol. 22 no. 1
Type: Research Article
ISSN: 1356-3289

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Article
Publication date: 14 June 2018

Christian Pieter Hoffmann, Sandra Tietz and Kerstin Hammann

The purpose of this paper is to present a comprehensive, interdisciplinary review of international investor relations (IR) research published since 1990. It highlights the…

Abstract

Purpose

The purpose of this paper is to present a comprehensive, interdisciplinary review of international investor relations (IR) research published since 1990. It highlights the development of IR research, its disciplinary foundations and key areas of inquiry. Research is shown to reflect the rising importance of IR as a corporate communications function, its interdisciplinary character, and the recognition of its contribution to strategic management.

Design/methodology/approach

Findings are based on an interdisciplinary systematic literature review focusing on peer-reviewed journal articles published in English since 1990.

Findings

The authors differentiate five strands of research focusing on the organization, strategy, instruments, content and effects of IR. IR research is shown to have strong roots in the business and management, accounting and communications literature. The authors document a rising interest in the topic and a steady development beyond descriptive accounts of the function to distinctive lines of inquiry. The authors summarize the state of the field and derive a number of suggestions for future research.

Research limitations/implications

The review is limited in scope to the applied research process, including the choice of keywords, databases as well as peer-reviewed journal publications published in English since 1990.

Originality/value

This study contributes to the necessary structuration and consolidation of the emergent field of IR research by identify salient perspectives and common subfields. It provides both a comprehensive overview of the state of research and specific suggestions for future endeavors.

Details

Corporate Communications: An International Journal, vol. 23 no. 3
Type: Research Article
ISSN: 1356-3289

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Book part
Publication date: 17 September 2020

Dawn Iacobucci, Marcelo L. D. S. Gabriel, Matthew J. Schneider and Kavita Miadaira Hamza

This chapter reviews marketing scholarship on environmental sustainability. The literature covers several themes of both consumer behavior and firm-level topics. Consumer…

Abstract

This chapter reviews marketing scholarship on environmental sustainability. The literature covers several themes of both consumer behavior and firm-level topics. Consumer issues include their assessment of efficacy and the extent to which they are aware and sensitive to environmental issues. Numerous interventions and marketing appeals for modifying attitudes and behaviors have been tested and are reported. Consumers and business managers have both been queried regarding attitudes of recycling and waste. Firm-level phenomena are reflected, including how brand managers can signal their green efforts to their customers, whether doing so is beneficial, all in conjunction with macro pressures or constraints from industry or governmental agencies. This chapter closes with a reflection on the research.

Details

Continuing to Broaden the Marketing Concept
Type: Book
ISBN: 978-1-78754-824-4

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