Visibility via Roadshows for Athens Listed Companies

Abstract

A major tool of corporate communications and especially of investor relations (IR) is the initiation, organisation and implementation of roadshows. Roadshows can promote listed companies, before, during and after their IPOs, and put their investment case on the radar screen of targeted, sophisticated market participants such as institutional investors, financial analysts, bankers and others. This paper investigates the opinions, experience and perceptions of company executives, analysts and fund managers about Greek listed firms’ roadshow efforts. We find that offering, relationship and proactive roadshows affect positively management and company visibility, attraction of new investors, stock buying and liquidity as well as analyst coverage among others.

Keywords: Discretionary disclosure, Investor relations, Visibility, Roadshows

JEL Classification: G14, G24, G32