TY - JOUR
T1 - Managing the narrative
T2 - Investor relations officers and corporate disclosure✰
AU - Brown, Lawrence D.
AU - Call, Andrew C.
AU - Clement, Michael B.
AU - Sharp, Nathan Y.
PY - 2018/1/1
Y1 - 2018/1/1
N2 - Investor relations officers (IROs) play a central role in corporate communications with Wall Street. We survey 610 IROs at U.S. public companies and conduct 14 follow-up interviews to deepen our understanding of the role of IROs in corporate disclosure events. Three important themes emerge from our results: (i) the value, nature, and timing of private communication between IROs, analysts, and investors; (ii) the significant influence IROs have on corporate disclosures; and (iii) the degree of “theater” involved in public earnings conference calls, even the Q&A portion. We provide insights into the investor relations, analyst, institutional investor, and disclosure literatures.
AB - Investor relations officers (IROs) play a central role in corporate communications with Wall Street. We survey 610 IROs at U.S. public companies and conduct 14 follow-up interviews to deepen our understanding of the role of IROs in corporate disclosure events. Three important themes emerge from our results: (i) the value, nature, and timing of private communication between IROs, analysts, and investors; (ii) the significant influence IROs have on corporate disclosures; and (iii) the degree of “theater” involved in public earnings conference calls, even the Q&A portion. We provide insights into the investor relations, analyst, institutional investor, and disclosure literatures.
KW - Disclosure
KW - Institutional investors
KW - Investor relations
KW - Investor relations officers
KW - Sell-side analysts
UR - http://www.scopus.com/inward/record.url?scp=85053679674&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85053679674&partnerID=8YFLogxK
U2 - 10.1016/j.jacceco.2018.08.014
DO - 10.1016/j.jacceco.2018.08.014
M3 - Article
AN - SCOPUS:85053679674
SN - 0165-4101
JO - Journal of Accounting and Economics
JF - Journal of Accounting and Economics
ER -