Investor relations via Web 2.0 social media channels

Аннотация

Purpose – The purpose of this paper is to investigate the use of Web 2.0-based social media for investor relations (IR), in the Middle Eastern (ME) context. IR is one of the under-researched topics of the corporate reporting subject area. This study seeks to contribute by investigating social media for IR in a ME context. It researches the perceptions of corporations, and individual and institutional investors regarding the phenomenon of social media for IR, given the particular cultural context. A conceptual model guiding future research is developed out of the analyzed data. Design/methodology/approach – The research approach is qualitative and exploratory in nature, as the aim is to analyze perceptions and opinions of participants, in order to develop a theoretical argument based on these. To this end, the study employs a qualitative methodology and interview data collection. Data are analyzed using qualitative research coding styles. Findings – Primary findings are encompassed in the theoretical framework, which theorises the adoption of social media for investor relation in particular but addresses voluntary corporate reporting in general. The study determines that there are various factors that support and hinder adoption, such as willingness to adopt social media for IR and potential risks and benefit, and that there are anticipated outcomes, such as improved communications between investors and corporations and a related power adjustment. The new element regarding IR that transpired out of the current study is the notion of investor empowerment and the directly related fear of lack, or essentially loss, of control