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Investor relation internet disclosure and the cost of equity capital: an empirical analysis

Investor relation internet disclosure and the cost of equity capital: an empirical analysis PDF Author:
Publisher:
ISBN:
Category :
Languages : fr
Pages :

Book Description
This dissertation contributes to the academic literature by examining two issues in relation to corporate Internet disclosure. First, we make a detailed content analysis of the investor relation section on the Web sites of US companies to gain insight into the type and amount of information provided to investors on corporate Web sites and to establish a measure of the Internet disclosure level. We find that companies are not exploiting the full potential of this disclosure medium. In a second study, we examine the relation between the cost of equity capital and the disclosure level of information in the investor relation section of corporate Web sites. We regress the cost of equity capital, obtained from a comprehensive discounted cash flow model, on the disclosure measure from the content analysis study to examine the relationship between these two variables. For a cross-sectional sample of 141 non-financial US companies, we find a negative and highly significant association between the cost of equity capital and level of Internet investor relation disclosure. The results remain significant after controlling for potentially influential variables such as different risk characteristics and firm size. The results indicate thus that Internet disclosure is useful to investors.

Investor relation internet disclosure and the cost of equity capital: an empirical analysis

Investor relation internet disclosure and the cost of equity capital: an empirical analysis PDF Author:
Publisher:
ISBN:
Category :
Languages : fr
Pages :

Book Description
This dissertation contributes to the academic literature by examining two issues in relation to corporate Internet disclosure. First, we make a detailed content analysis of the investor relation section on the Web sites of US companies to gain insight into the type and amount of information provided to investors on corporate Web sites and to establish a measure of the Internet disclosure level. We find that companies are not exploiting the full potential of this disclosure medium. In a second study, we examine the relation between the cost of equity capital and the disclosure level of information in the investor relation section of corporate Web sites. We regress the cost of equity capital, obtained from a comprehensive discounted cash flow model, on the disclosure measure from the content analysis study to examine the relationship between these two variables. For a cross-sectional sample of 141 non-financial US companies, we find a negative and highly significant association between the cost of equity capital and level of Internet investor relation disclosure. The results remain significant after controlling for potentially influential variables such as different risk characteristics and firm size. The results indicate thus that Internet disclosure is useful to investors.

Investor Relation Internet Disclosure and the Cost of Equity Capital

Investor Relation Internet Disclosure and the Cost of Equity Capital PDF Author: Ewa A. Froidevaux
Publisher:
ISBN:
Category :
Languages : en
Pages : 116

Book Description


New Dimensions in Investor Relations

New Dimensions in Investor Relations PDF Author: Bruce W. Marcus
Publisher: John Wiley & Sons
ISBN: 9780471141532
Category : Business & Economics
Languages : en
Pages : 438

Book Description
Die Beziehungen zu den Investoren zu pflegen, Aktionäre zu gewinnen und zu halten - das sind lebenswichtige Themen für die Führungskräfte an der Börse gehandelter Firmen. Dieses Buch enthält alles, was Sie wissen müssen, um diese Mechanismen zu verstehen und zu steuern und auf dem immer härter umkämpften Markt notwendiges Kapital beschaffen zu können.

Using Investor Relations to Maximize Equity Valuation

Using Investor Relations to Maximize Equity Valuation PDF Author: Thomas Ryan
Publisher: John Wiley & Sons
ISBN: 0471708526
Category : Business & Economics
Languages : en
Pages : 290

Book Description
A practical guide to proactive investor relations (IR) Investor relations (IR) has traditionally been an administrative function within corporate communications, responsible for disseminating public information and answering investor and media questions. Using Investor Relations to Maximize Equity Valuation challenges this approach, by arguing that IR has been underutilized and then illustrating how it should be elevated to lead a strategic communications effort to preserve or enhance corporate value and lower a company's cost of capital. Divided into four comprehensive parts, this book clearly describes capital markets strategies and tactical operations that these former, senior-level equity analysts and portfolio managers employ. Chad A. Jacobs (Westport, CT) and Thomas M. Ryan (Westport, CT) are the cofounders and co-CEOs of Integrated Corporate Relations.

The impact of improved financial disclosure on the cost of equity capital

The impact of improved financial disclosure on the cost of equity capital PDF Author: Dan S. Dhaliwal
Publisher:
ISBN:
Category : Capital
Languages : en
Pages : 118

Book Description


Networks

Networks PDF Author: Kurt Geihs
Publisher: Springer Science & Business Media
ISBN: 3642574769
Category : Computers
Languages : en
Pages : 205

Book Description
New information and communication technologies unquestionably brought about enormous changes that resulted in an ever-increasing networked society. Indeed, there is no area in the social and economic world which is unaffected by the recent advances. In response to these changes scientists from numerous disciplines teamed up in 1997 to lay a foundation for a common theory of networks. The objective was to gain a deeper understanding of the mechanisms behind social, economic, technical and other kinds of networks in order to develop a unified theory of networks. Such a theory would then guide public and private decisions concerning the planning, operations and controlling of all kinds of networks. The contributions in this book represent the first steps toward this ambitious goal.

Individual Behaviors and Technologies for Financial Innovations

Individual Behaviors and Technologies for Financial Innovations PDF Author: Wesley Mendes-Da-Silva
Publisher: Springer
ISBN: 3319919113
Category : Business & Economics
Languages : en
Pages : 395

Book Description
This book offers comprehensive examination of research on the relevance of individual behavior and technology to financial innovations. The chapters cover current topics in finance including integrated reporting, people finance, crowdfunding, and corporate networks. It provides readers with an organized starting point to explore individual behaviors and new technologies used in financial innovations. The explicit and growing speed of the spread of new technologies has hastened the emergence of innovation in the field of finance. Topics like the Internet of Things, semantic computing and big data finance are motivating the construction of financial tools that translate into new financial mechanisms. This book strives help readers better understand the dynamic of the changes in financial systems and the proliferation of financial products. Individual Behaviors and Technologies for Financial Innovations is organized in 16 chapters, organized in three parts. Part I has eight chapters that review the research on gender differences in attitudes about risk and propensity to purchase automobile insurance, financial literacy models for college students, wellness and attitude of university students in the use of credit cards, impact of programs income distribution and propensity to remain in employment, financial literacy and propensity to resort to informal financing channels, risk behavior in the use of credit cards by students. Part II reviews the research on financing for startups and SMEs, exploring funding through crowdfunding platform, operating credit unions, and using networks of friends to finance small businesses outside the domestic market. The four chapters of Part III describe contexts of financial innovation in listed companies, including society's demands on their behavior - we discuss motivations for companies to participate in corporate sustainability indexes, corporate performance through their profile of socially responsible investments, influence of networks of social relations in the formation of boards, and management of companies, and also the precariousness of financial decisions in large companies, as well as the role of the internet in corporate communication with the market.

Online Marketing to Investors

Online Marketing to Investors PDF Author: Daniel R. Valentine
Publisher: Business Expert Press
ISBN: 1631571419
Category : Business & Economics
Languages : en
Pages : 135

Book Description
“This book clearly explains why Investor Relations is now a highly regarded career choice and demonstrates its value to companies and the investment community.”—Helen Parris, Director of Investor Relations, G4S plc “This book is an essential read for Investor Relations profes-sionals, business managers, and anyone interested in corporate relations.”—William Sun, Deputy Director of the Centre for Governance, Leadership and Global Responsibility, Leeds Business School The expectations on UK listed companies continue to grow with the expansion of the regulatory framework and an increase in public scrutiny. The investment community continues to demand access to management, regular and meaningful communication, and an understanding of a firm’s position relative to its competitors. It falls increas-ingly to the Investor Relations (IR) function to help compa-nies and their management meet the rigorous demands of the equity markets and an evolving set of tools, technolo-gies, legal and governance frameworks. Digital channels present great but underutilised poten-tial to contribute to ever more effective IR. Online platforms offer fast, comprehensive, economical, exible and regula-tion-compliant methods of disclosing corporate informa-tion to investors, analysts and other relevant parties in the investment evaluation and decision making process.

The GAAP Gap

The GAAP Gap PDF Author: Robert E. Litan
Publisher: American Enterprise Institute
ISBN: 9780844741475
Category : Accounting
Languages : en
Pages : 112

Book Description
Today's knowledge-based economy requires an entirely new system of assessing the value of companies--a system tapping the vast communication capabilities of the Internet.

ECIIC 2019 10th European Conference on Intangibles and Intellectual Capital

ECIIC 2019 10th European Conference on Intangibles and Intellectual Capital PDF Author: Prof. Massimo Sargiacomo
Publisher: Academic Conferences and publishing limited
ISBN: 1912764199
Category : Language Arts & Disciplines
Languages : en
Pages :

Book Description