This is a great read. Old but still applicable. Access the article here. An extract appears below.
In the USA a big barrier to online communications is the near monopolies that the large vendors have. In Africa, its the absence of awareness by listed companies and regulators with the latter category being more complicit in my mind. An abstract of the article appears below.
Me: Job Description’s for IR roles typically have had an emphasis on a financial & accounting background. IR Web Report makes it clear that a new critical string to the bow is understanding how to communicate online effectively. If you were CEO of a listed company and had to choose between an applicant with a financial background and an online media specialist who would you choose and why?
Dominic Jones: Ideally, I’d hire both if I couldn’t get their skills in one person, but since I have to choose I would hire the one with the online communication skills because that is the future and big investors prefer to speak to management rather than the IR staff anyway. The person with the finance-only background rarely is able to reduce demand from investors for time with executives. They often are there to run interference for the executives, but I’m not sure that helps the company.
The person with the online communication skills can reduce demand on executives’ time by using technology to broaden access to management. We are seeing dramatic changes to the investment research industry and the fund management business. There are going to be more and more smaller research shops and more research will be done internally by the buy-side. And all of these people are going to be seeking access to management. Without new ways to provide access, the demands on management’s time will be intolerable.
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