A practical guide to proactive investor relations (IR) Investor relations (IR) has traditionally been an administrativefunction within corporate communications, responsible fordisseminating public information and answering investor and mediaquestions. Using Investor Relations to Maximize Equity Valuationchallenges this approach, by arguing that IR has been underutilizedand then illustrating how it should be elevated to lead a strategiccommunications effort to preserve or enhance corporate value andlower a company's cost of capital. Divided into four comprehensiveparts, this book clearly describes capital markets strategies andtactical operations that these former, senior-level equity analystsand portfolio managers employ. Chad A. Jacobs (Westport, CT) and Thomas M. Ryan (Westport, CT) arethe cofounders and co-CEOs of Integrated Corporate Relations.
Autorentext
THOMAS M. RYAN is the cofounder and co-CEO of Integrated Corporate Relations. Tom was a managing director in the equity research department of BT Alex. Brown. He has participated as lead or co-manager on at least $5 billion worth of investment banking transactions, including bank financing, high-yield debt, equity, and M&A transactions. Tom has often been quoted in the New York Times, the Wall Street Journal, Investor's Business Daily, International Herald Tribune, and the Wall Street Transcript. He has been a featured expert on CNNfn, CNBC, Money Talk (PBS), WNYC TV, and Bloomberg Television.
CHAD A. JACOBS is the cofounder and co-CEO of Integrated Corporate Relations. Before cofounding ICR, Chad was a vice president and managing director in the equity research departments of BT Alex. Brown and, before that, Ladenburg Thalmann. Chad has been the focus of stories in USA Today, POV, the Wall Street Journal, Investor's Business Daily, Women's Wear Daily, Daily News Record, Footwear News, Transworld Snowboarding, and Action Sports Retailer. He also served as a roundtable member on CNNfn and as a featured guest on ESPN2.
Klappentext
Using Investor Relations to Maximize Equity Valuation
"Ryan and Jacobs provide a much-needed and valuable road map that should help CEOs and CFOs navigate the capital markets landscape. Not only do they address the traditional Investor Relations responsibilities, but also the often misunderstood relationships between the sell-side analyst, investment bankers, capital markets, and buy-side investors that company management often don't see."
William Schmitt, Senior Equity Analyst, CIBC
"By employing former analysts as investor relations specialists, Integrated Corporate Relations (ICR) has raised the bar in the investor relations field."
Patrick McCormack, CFA, Portfolio Manager, Tiger Consumer Partners, LP
"The team at ICR has created an important, strategic, value-added service for management teams as well as Wall Street investors and analysts. Their capital markets experience, vast sector knowledge, and wealth of relationships allow them to play a dynamic role that is unparalleled in the investor relations and corporate communications industry."
Joe Teklits, Director, Sr. Research AnalystApparel and Retail, Wachovia Capital Markets, LLC
"We've found that ICR truly delivers superior, strategic investor relations counsel due to their high-level capital markets backgrounds. They assess every situation with an eye on long-term equity value, and for that reason, their viewpoint syncs perfectly with our Board of Directors and management. Unlike many firms that claim superior knowledge in the field, ICR actually wrote the book."
Rick Rosenfield, co-CEO of California Pizza Kitchen
Zusammenfassung
A practical guide to proactive investor relations (IR)
Investor relations (IR) has traditionally been an administrative function within corporate communications, responsible for disseminating public information and answering investor and media questions. Using Investor Relations to Maximize Equity Valuation challenges this approach, by arguing that IR has been underutilized and then illustrating how it should be elevated to lead a strategic communications effort to preserve or enhance corporate value and lower a company's cost of capital. Divided into four comprehensive parts, this book clearly describes capital markets strategies and tactical operations that these former, senior-level equity analysts and portfolio managers employ.
Chad A. Jacobs (Westport, CT) and Thomas M. Ryan (Westport, CT) are the cofounders and co-CEOs of Integrated Corporate Relations.
Inhalt
PREFACE A Brave New World of Investor Relations ix
INTRODUCTION A New Approach and Why It's Important xiii
PART ONE Capital Markets and Their Players: A Brief Primer 1
CHAPTER 1 The Capital Markets and IR 3
CHAPTER 2 The Sell-Side Disclosed: Who They Are and What They Do 13
CHAPTER 3 The Buy-Side: Institutional and Retail Investors 21
CHAPTER 4 Employees, Suppliers, Customers 25
CHAPTER 5 The Media 29
PART TWO Post-Bubble Communications: Events in the Markets and the New World of IR 33
CHAPTER 6 Greed Is Good, '90s Style 35
CHAPTER 7 Of Rules and Regulations 39
CHAPTER 8 Post-Bubble Reality 45
CHAPTER 9 Of Reason, Renewal, and Honesty 51
PART THREE Investor RelationsThe Fundamentals: Traditional IR and the Need for Change 59
CHAPTER 10 Traditional IR: What It Is, and Why It's Not Enough 61
CHAPTER 11 Staffing and Sourcing the New IR 73
CHAPTER 12 Grasping the IR Evolution 79
PART FOUR Investor RelationsMaximizing Equity Value
CHAPTER 13 Positioning IR to Succeed 87
PART FIVE Definition 99
CHAPTER 14 The IR Audit 101
CHAPTER 15 Excavating Value Post-Audit 113
PART SIX Delivery 121
CHAPTER 16 To Guide or Not to Guide: That Is the Question 123
CHAPTER 17 Targeting the Audience 137
CHAPTER 18 Integrating with PR 147
CHAPTER 19 Infrastructure/Disclosure Check 157
CHAPTER 20 Delivering the Goods 161
PART SEVEN Dialogue 191
CHAPTER 21 From Delivery to Dialogue 193
CHAPTER 22 Maintaining and Building Relationships 197
CHAPTER 23 Meeting The Street 205
CHAPTER 24 Event Management 213
CHAPTER 25 The Banker Mentality 233
CONCLUSION A Call for Change 245
APPENDIX A Two Press Releases 249
APPENDIX B The Conference Call Script 255
APPENDIX C Velocity Inc. 2004 Investor Relations Plan 261
INDEX 267