The first book to offer a global look at the state-of-the-art thinking and practice in investor relations and financial communication
Featuring contributions from leading scholars and practitioners in financial communication and related fields - including public relations, corporate communications, finance, and accounting - this volume in the critically acclaimed “Handbooks in Communication and Media” seriesprovides readers with a comprehensive, up-to-date picture of investor relations and financial communications as they are practiced in North America and around the world.
The Handbook of Financial Communication and Investor Relations provides an overview of the past, present, and future of investor relations and financial communications as a profession. It identifies the central issues of contemporary investor relations and financial communications practice, including financial information versus non-financial information, intangibles, risk, value, and growth. Authors address key topics of concern to contemporary practitioners, such as socially responsible investing, corporate governance, shareholder activism, ethics, and professionalism. In addition, the book arms readers with metrics and proven techniques for reliably measuring and evaluating the effectiveness of investor relations and financial communications.
Bringing together the most up-to-date research on investor relations and financial communication and the insights and expertise of an all-star team of practitioners, The Handbook of Financial Communication and Investor Relations:
- Explores how the profession is practiced in various regions of the globe, including North America, South America, Europe, the Middle East, India, Australia, and other areas
- Provides a unique look at financial communication as it is practiced beyond the corporate world, including in families, the medical profession, government, and the not-for-profit sector
- Addresses “big-picture” strategies as well as specific tactics for financial communication during crises, the use of social media, dealing with shareholder activism, integrated reporting and CSR, and more
This book makes an ideal reference resource for undergrads and graduate students, scholars, and practitioners studying or researching investor relations and financial communication across schools of communication, journalism, business, and management. It also offers professionals an up-to-date, uniquely holistic look at best practices in financial communication investor relations worldwide.
Table of Contents
Notes on Contributors ix
Part I The Foundations of Financial Communication and Investor Relations: Theory and Industry 1
1. Investor Relations and Financial Communication: The Evolution of the Profession 3
Alexander V. Laskin
2. Crisis Communication: Insights and Implications for Investor Relations 23
Rachel L. Whitten and W. Timothy Coombs
3. Risk, Uncertainty, and Message Convergence: Toward a Theory of Financial Communication 33
Kathryn E. Anthony and Steven J. Venette
4. The Role of Argumentation in Financial Communication and Investor Relations 45
Rudi Palmieri
5. Shareholder Democracy in the Digital Age 61
Sandra Duhe
6. Ethics in Financial Communication and Investor Relations: Stakeholder Expectations, Corporate Social Responsibility, and Principle-Based Analyses 71
Shannon A. Bowen, Won-ki Moon, and Joon Kyoung Kim
7. Communicative Enactment of Virtue: A Structurational Approach to Understanding Ethical Financial Communication 87
Steven J. Venette and Joel O. Iverson
8. The Skills Required to Be a Successful Investor Relations Officer 97
Kala Krishnan
9. How Shareholders Differ: Types of Shareholders and Investment Philosophies 107
Rose Hiquet and Won-yong Oh
10. Financial Analysts and Their Role in Financial Communication and Investor Relations 117
Marlies Whitehouse
11. Securities Law for Financial Communication and Investor Relations in the United States, 1929–2016 127
David L. Remund and Kathryn Kuttis
12. Women on Wall Street: Problematizing Gendered Metaphors in Finance 137
Lauren Berkshire Hearit
Part II The Practice of Financial Communication and Investor Relations: Strategies and Tactics 145
13. Explaining Communication Choices During Equity Offerings: Market Timing or Impression Management? 147
Danial R. Hemmings, Niamh M. Brennan, and Doris M. Merkl-Davies
14. Financial and Investor Relations for Start-Up Businesses and Emerging Companies 157
Kristie Byrum
15. Whose Hype Matters? The Battle for Value Creation in Contemporary Financial Communications 167
Kip Kiefer and Richard A. Hunt
16. Shareholder Activism and the New Role of Investor Relations 179
Christian Pieter Hoffmann and Christian Fieseler
17. Corporate Proxy Contests: Overview, Application, and Outlook 187
Matthew W. Ragas
18. More Than a Zero-Sum Game: Integrating Investor and Public Relations to Navigate Conflict With Activist Investors 197
Constance S. Chandler
19. Integrated Reporting: Bridging Investor Relations and Strategic Management 209
Kristin Kohler and Christian Pieter Hoffmann
20. Corporate Social Responsibility: Committing to Social and Environmental Impact in the Global Economy 221
Derek Moscato
21. Transparency Signaling in Corporate Social Responsibility Press Releases in a Vice Industry 233
Jessalynn Strauss
22. Faith-Based Investor Activism for Corporate Environmental Responsibility: Catalysts for Corporate Change? 245
Nur Uysal
23. Issues Management in Investor Relations and Financial Communication 261
Robert L. Heath
24. Measurement and Evaluation of Investor Relations and Financial Communication Activities 275
Alexander V. Laskin and Anna A. Laskin
25. Perception Audits: Learning Investment Community Sentiment 283
Donna N. Stein
26. Conference Calls: A Communication Perspective 293
Andrea Rocci and Carlo Raimondo
27. When CEOs Talk: Risks, Opportunities, and Expectations of Financial Communication in an Online World 309
Pauline A. Howes
28. Financial Crisis Management and Wells Fargo: Reputation or Profit? 319
Hilary Fussell Sisco
29. Warren Buffett, Value Investing, Media, and Social Media 327
Jeremy Harris Lipschultz
Part III Financial Communication Outside the Corporate Context: From Governments to Families 341
30. Financial Communications: The Federal Reserve System’s Contributions 343
Marci R. Schneider
31. Restoring Legitimacy to Financial Regulators and Institutions: Admission of Wrongdoing as a Settlement Strategy 355
Jeffrey D. Brand
32. The Privileged Space of Financial Communication: Journalistic Perspectives, Relationships, and Implications for Financial Public Relations 365
Luke Capizzo and Erich J. Sommerfeldt
33. Nonprofit Financial Communication: Donors’ Preferred Information Types, Qualities, and Sources 377
Timothy Penning
34. The Sunshine Act: Promoting Transparency in Financial Relationships Between Physicians and the Pharmaceutical Industry 391
Laura E. Willis
35. A Review of Family Financial Communication 399
Lynsey K. Romo
Part IV Financial Communication and Investor Relations Around theWorld 409
36. Consultation and Disclosure for International Financing 411
Leticia M. Solaun
37. The Nordic Approach to Investor Relations 419
Elina Melgin, Vilma Luoma-aho, Minea Hara, and Jari Melgin
38. Investor Relations in Germany: Institutionalization and Professional Roles 429
Kristin Kohler
39. The Evolution of Financial Communication in Italy: The Case of Oscar di Bilancio 443
Gianluca Comin, Simone Ros, and Alberto Scotti
40. A Stress Test for Investor Relations and Financial Communication Professionals: A Case From Europe 449
Toni Muzi Falconi
41. Investor Relations and Financial Communication in an Emerging Market: The Republic of Turkey 457
B. Pýnar Ozdemir
42. Financial Communication in India: A Case Study of the Reserve Bank and Its Governor 465
Rajul Jain and Sarab Kochhar
43. Influences and Priorities in Investor Relations in Australia 473
Ian Westbrook
44. Financial Communication and Investor Relations: A Latin American Approach 485
Carolina A. Carbone and Gabriel Sadi
45. Investor Relations in Brazil: From the Protection of Major Stakeholders to Value Management for Concerned Parties 493
Luiz-Alberto de Farias, Paulo Nassar, and Agatha Camargo Paraventi
Index 509
