Public Listed Companies and Fund Managers - Academic ...

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transformation through workplace learning and leadership, and works closely with organisations to accredit training programmes internationally. Kowal Wojciech MEng. graduate of the Academy of Mining and Metallurgy, Department of Electronics and Telecommunications, a senior specialist of computer sciences and computer network administrator at the University of Wroclaw. Monica Zaharie is a junior lecturer at Babes-Bolyai University, Faculty of Economics and Business Administration, Management Department. Since 2004, she has been involved in the quality assurance process, coordinating the student ratings of instruction, participating to external institutional evaluations, stakeholders’ feedback surveys such as student satisfaction survey and employers’ opinion surveys. xiv
Public Listed Companies and Fund Managers’ Perceptions on Investor Relations Programs in Malaysia Norraidah Abu Hasan, Alicia Tan and Memiyanty Abdul Rahim Universiti Teknologi Mara, Malaysia norraidah@salam.uitm.edu.my alicia819@salam.uitm.edu.my memiyanty@salam.uitm.edu.my Abstract: Managing investor relations (IR) programs are crucially important in a corporate world to win investors confidence. This paper examines the practice of investor relations in public listed companies in Malaysia. For this purpose, the perceptions of public listed companies and fund managers are obtained to determine whether there is any gap between the perceptions of fund managers and public listed companies on investor relations programs. This study revealed that fund managers are much more concerned with the information on companies’ future prospect and prefer to use one-to-one meeting as the primary means of communications for their investment decisions. These findings can contribute to some knowledge in assisting companies in designing effective investor relations programs in accordance with fund managers’ point of view. Keywords: investor relations, information disclosure, communication channel, fund managers, public listed companies 1. Introduction In today’s competitive environment, attracting investors is recognized as a strategy for growth. It was reported that United States was the pioneer in making investor relations one of the management disciplines (Marston, 2004). The National Investor Relations Institute (NIRI) found in 1969 defines investor relations as a strategic management responsibility using the disciplines of finance, communication and marketing to manage the content and flow of a company’s information to financial and other constituencies to maximize relative valuation (National Investor Relations Institute, 2002). Marston and Straker (2001) define investor relations as part of the business reporting process. The report published by companies shall cover a wide range of documents for investors’ information about the company performance. Gregory (1997) postulates that investor relations as part of an overall, integrated, corporate communications message, thus providing a strong strategic role in the corporate marketing strategy that could give a positive corporate image and enhance the shareholders confidence. Similarly, Marston (1996) and Tuominen (1997) suggest that the objective of investor relations is to provide investors with the required information. Hence information disclosure must be a key instrument in investor relations program. In a study conducted by Argenti, Howell and Beck (2005) it was found that investor relations is an integral part of a firm’s corporate strategy and it helps the company to become highly competitive. Perhaps, an effective investor relations program would be able to broaden the investor base and increase the company’s share price (Merton, 1987). In Malaysia, Bursa Malaysia Securities Bhd and the Malaysian Investor Relations Association (MIRA) play an important role in providing guidance to public listed companies in developing their investor relations programs in an effective manner. It is a requirement for public listed companies to develop their investor relations as a channel to inform their investors on the company’s performance. Traditionally, shareholders relied mainly on annual general meetings (AGM) as the main channel to communicate with companies. According to Bursa Malaysia, these AGM have proven to be ineffective due to poor attendance, time constraints, logistical problems and their lack of frequency (Bursa Malaysia, 2007). In Malaysia, the challenge in implementing investor relations is to ensure public companies are well governed and adopt global practices to build investor confidence (Berry, 2010). The old way of communication between shareholders and a company through once a year AGM can become a painful affair in today’s markets. Managing investors’ expectations through an effective ongoing investor relations program is crucial for any public listed companies (Bursa Malaysia, 2007). Therefore, it is important for companies to have an effective and well planned investor relations program as one of the key components for successfully creating a positive perception of a company within the investment community, so that they may accurately make investment decisions. 1
Page 1 and 2: Proceedings of the 7th European Con
Page 3 and 4: Contents Paper Title Author(s) Page
Page 5 and 6: Paper Title Author(s) Page No. Core
Page 7 and 8: Preface These Proceedings represent
Page 9 and 10: John Politis (Neapolis University,
Page 11 and 12: Dr Florian Sala is a Doctor of Expe
Page 13 and 14: Mirjami Ikonen is PhD student and U
Page 15: doctorate research examines gender
Page 19 and 20: Norraidah Abu Hasan et al. informal
Page 21 and 22: Norraidah Abu Hasan et al. & Zeitha
Page 23 and 24: Norraidah Abu Hasan et al. explanat
Page 25 and 26: Norraidah Abu Hasan et al. Holland,
Page 27 and 28: Mo’taz Amin Al -Sa’eed Generall
Page 29 and 30: Mo’taz Amin Al -Sa’eed Hº4: Au
Page 31 and 32: Mo’taz Amin Al -Sa’eed .01). Th
Page 33 and 34: Mo’taz Amin Al -Sa’eed expertis
Page 35 and 36: Aurilla Aurelie Bechina and Eli Hus
Page 43 and 44: The Variations of CSR Functions Dep
Page 45 and 46: Aurica Briscaru and Georgiana Corca
Page 51 and 52: The Characteristics and Performance
Page 53 and 54: Nicoleta Bugnar et al. initiates an
Page 55 and 56: Nicoleta Bugnar et al. Data: Eurost
Page 57 and 58: Nicoleta Bugnar et al. financial an
Page 59 and 60: Acknowledgements Nicoleta Bugnar et
Page 61 and 62: Stefan Claudiu Caescu and Ionel Dum
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Sustainable CIO Leadership in China
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Eng Chew attained by firm’s abili
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5.1 MeatCo Eng Chew MeatCo is a sta
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Eng Chew to exploit the Bank’s IT
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Eng Chew and process assets (such b
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3. Theoretical background Miroslav
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Miroslav Chodúr et al. comparison
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Miroslav Chodúr et al. Developmen
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Operating profit before taxes Sales
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Miroslav Chodúr et al. Impact of
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Developing and Executing a Strategy
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Michael Cummings et al. Driven by t
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Michael Cummings et al. reviews as
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Michael Cummings et al. Acutely awa
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Michael Cummings et al. perspective
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Cornelia Dascălu et al. the enviro
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Cornelia Dascălu et al. Figure 1:
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Cornelia Dascălu et al. The realit
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4. Conclusions Cornelia Dascălu et
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Questioning on Audit Committee Effe
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Camelia Liliana Dobroţeanu et al.
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Governance Versus Entrepreneurship
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Anca Dodescu 3. Governance versus e
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Anca Dodescu difficult separation o
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Re-implementing an Individual Perfo
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Marietjie du Plessis These issues r
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*SS: Support Services SS Figure 1:
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Marietjie du Plessis Training sess
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Marietjie du Plessis Line managers
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Marietjie du Plessis Bourne, M., Ne
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Carmen Sonia Duse et al. 2. The org
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Carmen Sonia Duse et al. The values
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Carmen Sonia Duse et al. Correlatin
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Structural Capital and Project Proc
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Barbara Edington and Beth Ouellette
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4.3 Temporary organization manageme
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Management Leadership and Governanc
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Emmanuel Innocents Edoun is to be s
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Emmanuel Innocents Edoun During the
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Emmanuel Innocents Edoun principals
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Richard Ens and Richard Turner user
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Richard Ens and Richard Turner tele
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Richard Ens and Richard Turner Aust
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Richard Ens and Richard Turner Aust
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Olga Erahtina As a rule, the confli
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Olga Erahtina The second group incl
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Limiting power to make transactions
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Corporate Governance in Emerging Ec
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Niculae Feleagă et al. the two res
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Table 1: Sample companies: Niculae
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Niculae Feleagă et al. In Romania,
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VTMM - Virtual Team Maturity Model
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Ralf Friedrich et al be implemented
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Application sharing Asynchronous to
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Ralf Friedrich et al optimisation o
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Managing Knowledge in Digital Econo
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Bogdan Ghilic-Micu et al. Figure 1:
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Bogdan Ghilic-Micu et al. The conce
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Bogdan Ghilic-Micu et al. 4. Virtua
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Bogdan Ghilic-Micu et al. in produc
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Bogdan Ghilic-Micu et al. additiona
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Bogdan Ghilic-Micu et al. 6. Conclu
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Social Responsibility, an Element o
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Georgeta Grigore and Corina Grigore
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Georgeta Grigore and Corina Grigore
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RS4 = discretionary responsibility
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Toward a Viable Construct of R&D Sy
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Patrick Hester and Thomas Meyers Re
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Patrick Hester and Thomas Meyers Th
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3.7 Foresight Patrick Hester and Th
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Acknowledgements Patrick Hester and
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A Biographical Approach to Research
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Karen Jones experiences and parents
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Karen Jones Biographical process st
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Karen Jones Chamberlayne, P., Borna
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Jolanta Kowal The identification o
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Jolanta Kowal Almost 30% of economi
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Jolanta Kowal A job can be found in
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Jolanta Kowal resistance/assertiven
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References Jolanta Kowal Eurostat (
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Which competences are preferred dur
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A project-oriented institution is a
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The ability to use social media too
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Managers N=13 m std Vm Time managem
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The most important hard competences
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Development of a Validation Method
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Figure 1: Overall research framewor
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3. Development of a validation meth
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Mike Krey et al. - one of the valid
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Mike Krey et al. Validation type 3
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Mike Krey et al. Cole, Robert; Pura
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The Potential of Library 2.0 in But
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2. Methodology Tom Kwanya et al. Th
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Tom Kwanya et al. online to discove
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Tom Kwanya et al. Friend, F.J. (199
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Linda Lee-Davies and Nada Kakabadse
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James Lockhart governance “violat
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4. Results James Lockhart The major
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James Lockhart Much is to be learnt
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James Lockhart Peters, T. J. and Wa
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Camelia Iuliana Lungu level must ov
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Camelia Iuliana Lungu Which stakeh
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Camelia Iuliana Lungu 2004) on thes
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Camelia Iuliana Lungu Rueda-Manzana
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Xavier Martin Competencies: Most le
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Xavier Martin Emotional intelligenc
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Planning Organizing Coordinating Co
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The Impact of Quality of Bureaucrac
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Ani Matei and Lucica Matei A broad
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Ani Matei and Lucica Matei The expe
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Ani Matei and Lucica Matei Table 6:
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Internalisation of the Values of Na
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Ani Matei et al. A section extensi
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Ani Matei et al. 2.4 Other modality
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For those three states we shall obt
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Political parties (Financing of pol
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Ani Matei et al. Doig, A., McIvor,
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Thomas Meyers and Patrick Hester Th
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Thomas Meyers and Patrick Hester as
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Thomas Meyers and Patrick Hester At
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Thomas Meyers and Patrick Hester th
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Thomas Meyers and Patrick Hester Ly
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2. Literature review Sundaram Natar
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Sundaram Nataraja et al. The second
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Sundaram Nataraja et al. as require
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Workplace Well-Being and Engagement
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Jinia Mukerjee Nath From the eudemo
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Jinia Mukerjee Nath 7. Organization
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Jinia Mukerjee Nath engagement-neut
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The Directing Role of Governance in
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Fattah Nazem The researcher has use
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Fattah Nazem Higher education syste
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The Role of Governance in Appointin
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Fattah Nazem creativity when they p
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x7 x8 x9 x10 x11 x12 x13 x14 x15 x1
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Fattah Nazem best choice. Moreover,
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Abiola Ogunyemi (ibid. at p. 95). I
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Abiola Ogunyemi leading people to d
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Abiola Ogunyemi The themes of integ
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Abiola Ogunyemi Olisa Agbakoba (201
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John Politis and Denis Politis (Mou
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John Politis and Denis Politis impr
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John Politis and Denis Politis CFA.
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John Politis and Denis Politis Gist
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Mirela Popa and Irina-Iulia Salanţ
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Ali Pourkazemi and Mohammadreza Abd
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Changing Managerial and Leadership
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Parveen Prasad It is highlighted by
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Methods of Data Analysis Parveen Pr
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Parveen Prasad Company have restruc
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Tax Aggressive Behaviour in Private
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Tensie Steijvers and Mervi Niskanen
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Making Organizational Learning Work
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Figure 1: Cable connector assembly
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John Sullivan and Roger Beach dimin
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John Sullivan and Roger Beach Congr
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Nucharee Supatn organization. As su
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Nucharee Supatn characteristics whi
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Nucharee Supatn intention while 64
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Nucharee Supatn 7. Limitations and
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Anabella Maria Târnovan concentrat
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Anabella Maria Târnovan In our opi
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Anabella Maria Târnovan empty in t
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Anabella Maria Târnovan Muñiz, Al
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2. Literature review Gerry Urwin Th
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Gerry Urwin This explanation is a m
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Gerry Urwin critically evaluate are
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Gerry Urwin motivational force to c
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Professionalization of TMT in Priva
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Pieter Vandekerkhof, et al. be cons
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Pieter Vandekerkhof, et al. P4: The
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Pieter Vandekerkhof, et al. Flamhol
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Much More Than CEO Duality: A Behav
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Maarten Vandewaerde et al. tives (D
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Maarten Vandewaerde et al. (see tab
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Maarten Vandewaerde et al. like to
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The Board of Directors as a Team: G
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Maarten Vandewaerde et al. members,
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Maarten Vandewaerde et al. multipha
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Maarten Vandewaerde et al. The insi
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Board Dynamics: The Soft Underbelly
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Theo Veldsman spirit of sound corpo
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Theo Veldsman answers to which need
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Theo Veldsman 5.3 Macro software el
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Theo Veldsman of the board that aff
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2. Research methodology Lugkana Wor
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Lugkana Worasinchai et al. Table 1:
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Lugkana Worasinchai et al. Furtherm
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Monica Zaharie et al. external agen
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Monica Zaharie et al. Binder (1997)
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Monica Zaharie et al. With regard t
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PhD Research Papers 465
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Experiential Education as a Part of
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prepared program is necessary also
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In the Figure 2 and Table 2 below c
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Among favourite types of programs,
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In total, the less negative aspect
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The Testing and Validation of a Mod
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Danie du Toit et al. The objective
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Danie du Toit et al. The leader wit
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Danie du Toit et al. Women’s ind
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Danie du Toit et al. enhances the l
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Relationships Between Human Resourc
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Nicoleta Valentina Florea et al. A
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Nicoleta Valentina Florea et al. B
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Nicoleta Valentina Florea et al. or
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Nicoleta Valentina Florea et al. Th
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Examination of the Dynamic Relation
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Fadi Hachem Hecht and Allen (2009:8
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Fadi Hachem finish their work at ho
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Fadi Hachem authoritarian leader wh
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Inter-Firm Cooperation Under the Vi
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Nguyen Phuc Nguyen motivation refer
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Nguyen Phuc Nguyen (2011). The rema
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Nguyen Phuc Nguyen cooperation inte
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Nguyen Phuc Nguyen David, F.D., Bag
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Choice or Predetermined Path? Women
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Corina Sheerin Tannen (1991) who im
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Corina Sheerin higher scores than m
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Figure 1: Conceptual model Referenc
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Corina Sheerin Turco, C.J. (2010) "
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Šárka Vránová understand the co
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Šárka Vránová If the lower-orde
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Šárka Vránová From these findin
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Šárka Vránová improve the work
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Work in Progress Papers 533
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Models for Supply Chain Governance
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Emil Crisan et al. steering committ
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Adriana Giurgiu et al. SMEs, in the
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Renewing Human Intellectual Capital
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Mirjami Ikonen and Taina Savolainen
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Records Governance in Enterprise 2.
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Elizabeth Shaffer and Luciana Duran
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