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

Author

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  • Marston, C.

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.

Suggested Citation

  • Marston, C., 1996. "The organization of the investor relations function by large UK Quoted companies," Omega, Elsevier, vol. 24(4), pages 477-488, August.
    • Handle: RePEc:eee:jomega:v:24:y:1996:i:4:p:477-488
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    Cited by:

    1. 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.
    2. Encarna Guillamón-Saorín & Carlos M. P. Sousa, 2014. "Voluntary Disclosure of Press Releases and the Importance of Timing: A Comparative Study of the UK and Spain," Management International Review, Springer, vol. 54(1), pages 71-106, February.
    3. 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).
    4. 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.
    5. 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.
    6. Kate Upton, 2018. "Investor Relations Role in Merger and Acquisition Activity," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 8(02), pages 1-28, June.
    7. J. Geerings & L. H. H. Bollen & H. F. D. Hassink, 2003. "Investor relations on the Internet: a survey of the Euronext zone," European Accounting Review, Taylor & Francis Journals, vol. 12(3), pages 567-579.
    8. 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.
    9. Millicent Chang & Gino D'Anna & Iain Watson & Marvin Wee, 2008. "Does Disclosure Quality via Investor Relations Affect Information Asymmetry?," Australian Journal of Management, Australian School of Business, vol. 33(2), pages 375-390, December.

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