The research is an integrated part of the IR Nordic Markets project and has been conducted from August through November 2018. 100 Nordic IR-managers representing companies of all sizes have been interviewed. Regi’s IRO-Insight 2018 survey is conducted in cooperation with online daily Realtid.se .
Some interesting findings are presented on this page. If you are interested in a more comprehensive summary och the results; please don’t hesitate in contacting us!
Interviews have been conducted with 100 Nordic IR-Managers.
- 50 represent listed companies with > 6 analysts (LARGE).
- 50 represent listed companies with < 5 analysts (SMALL).
The majority of respondents (60%) are from Sweden. We have not seen any tangible differences between the countries in general.
Based on the answers provided in the survey, the typical IRO is:
- Male – 76% seen the entire group (74% in the LARGE group // 78% in the SMALL group).
- 45 years of age (44 years of age // 46 years of age)
- 6 years experience in handling IR (7 years. // 5 years)
- 71% have education and background in Finance(74% // 68%)
- 21% have a background in Communications and PR (20% // 22%)
- 82% of respondents in the LARGE group hold the title IRO, IR-Manager, SVP IR and Corp. Comms. or similar.
- 38% of respondents in the SMALL group are IRO or IR-Manager. 22% are CFOs, 24% are Corp. Comms & IR.
- 22% in the LARGE group report to the CEO, 56% to the CFO.
- 60% in the SMALL group report to the CEO, 26% to the CFO.
- MEN in the LARGE group earn 37% more than their female colleagues.
- MEN in the SMALL group earn 19% more than their female colleagues.
Of the group we’ve polled, four of ten small companies have commissioned independent research/analysis, compared with one in ten of the companies with more coverage. This is however a question open for some debate. One respondent commented on the issue accordingly:
– We have paid for an analyst report of our Company. By definition, I cannot see that as independent. Neither if we choose to pay for some body else to write a report, I find it difficult to consider such a report independent.
When asked “If In your objective opinion, to what degree do the following aspects affect investors’ decision-making regarding investment in your company (or not)?” The most important aspect that (according to the respondents) will affect decision making is “Trustworthiness” followed by “Transparency” and “Access to top management”. As we expected.
Finally, we asked “What in the near future (2-3 years) is the greatest challenge with regards to handling of IR?”
The open-ended question rendered a number of differing answers, albeit most point out the difficulties involved in handling IR with new regulations, lack of time and resources, the importance of gaining access to management and the markets, and more.
50% of respondents in the “LARGE” group mentioned MIFID II directly or indirectly as a challenge in the near future. Interestingly, a mere 20% of respondents included in the “SMALL” group mentioned MIFID II, resources were mentioned more often in this group, along with the importance of conveying a credible story to investors.
We will monitor the unfolding development with regards to MIFID II and what it will entail in practice for IROs. Obviously, there is a learning curve – or as one respondent concluded: “I don´t see any challenges, just opportunities”.