The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets
Brochet F, Limbach P, Bazhutov D, Betzer A, Doumet M (2022)
Management Science.
Zeitschriftenaufsatz
| E-Veröff. vor dem Druck | Englisch
Download
Es wurden keine Dateien hochgeladen. Nur Publikationsnachweis!
Autor*in
Brochet, Francois;
Limbach, PeterUniBi
;
Bazhutov, Dmitry;
Betzer, André;
Doumet, Markus
![](https://pub.uni-bielefeld.de/images/icon_orcid.png)
Abstract / Bemerkung
Using annual survey-based investor relations (IR) data for a panel of European companies, we document that the supply and effectiveness of IR varies with country- and firm-level demand. Relative to their industry peers, firms from insider-oriented countries have larger IR staff, which predicts better IR rankings. Better IR is associated with greater visibility, information assimilation, and valuation, with visibility and assimilation being significantly greater for firms from insider-oriented countries. Within such countries, firms with greater outsider orientation have higher capital market benefits. Furthermore, using Markets in Financial Instruments Directive II as a shock to analyst coverage, we find an incrementally larger association between IR and visibility in insider-oriented countries after 2017. Overall, the evidence suggests that the supply of IR in insider-oriented markets has reached a high level, acting as a viable mechanism to improve firms’ information environment. However, within those countries, IR demand still varies significantly, with outsider-oriented firms showing greater IR effectiveness.
Erscheinungsjahr
2022
Zeitschriftentitel
Management Science
ISSN
0025-1909
eISSN
1526-5501
Page URI
https://pub.uni-bielefeld.de/record/2959381
Zitieren
Brochet F, Limbach P, Bazhutov D, Betzer A, Doumet M. The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets. Management Science. 2022.
Brochet, F., Limbach, P., Bazhutov, D., Betzer, A., & Doumet, M. (2022). The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets. Management Science. https://doi.org/10.1287/mnsc.2022.4368
Brochet, Francois, Limbach, Peter, Bazhutov, Dmitry, Betzer, André, and Doumet, Markus. 2022. “The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets”. Management Science.
Brochet, F., Limbach, P., Bazhutov, D., Betzer, A., and Doumet, M. (2022). The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets. Management Science.
Brochet, F., et al., 2022. The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets. Management Science.
F. Brochet, et al., “The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets”, Management Science, 2022.
Brochet, F., Limbach, P., Bazhutov, D., Betzer, A., Doumet, M.: The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets. Management Science. (2022).
Brochet, Francois, Limbach, Peter, Bazhutov, Dmitry, Betzer, André, and Doumet, Markus. “The Supply and Effectiveness of Investor Relations in Insider- vs. Outsider-Oriented Markets”. Management Science (2022).
Export
Markieren/ Markierung löschen
Markierte Publikationen
Web of Science
Dieser Datensatz im Web of Science®Suchen in