How to avoid reputation damage in financial restatement? The role of investor relations management

In order to examine the effects of avoiding reputation damage by investor relations management under certain corporate governance structures and mechanisms, samples of 1120 listed companies are used to research the influence on financial restatements by corporate governance. Then the moderating effects of investor relations management on financial restatements are analyzed. The result is that the more dispersed the equity, the higher the probability of financial restatements will be (This includes the government-controlled companies). Also the higher the proportion of independent directors and the higher the level of investor relations management, the lower the probability of financial restatements will be. Furthermore, as a moderating variable, investor relations management can eliminate the negative effects of corporate governance, enhance the effect of independent directors and reduce the probability of financial restatement.

Investor Relations （IR） in Business Communication on the Example of Poland

This paper focuses on investor relations （IR） as an element of companies＇ communication with the external environment. It shows the place and role of IR in communication with the general market, and the stock exchange market in particular. The study is illustrated with an example of IR in Poland, a relatively new European Union （EU） member state and an emerging market. As can be seen, IR goes beyond the traditionally understood maintenance of communication with the capital market. It is also shown that the main role of IR ought to be the reduction of investment risk and enhancement of the companies＇ value, which is of particular significance in light of the current globalization of capital markets. It has been found that Polish companies, especially those listed on the Warsaw Securities Exchange （WSE）, commonly rely on IR as a means of communication with the environment. And yet, as the results of the analysis show, the quality of that communication is still far from satisfactory, despite efforts undertaken by various external entities to encourage more focus on the development of IR, or understanding of the company＇s relevant staff of its important role.

Voluntary disclosure behavior and strategy in Chinese listed companies

Due to the information asymmetry on the securities market, Chinese listed companies have incentives to disclose voluntarily. Mandatory disclosure and voluntary disclosure are both included in an effective information disclosure system. Mandatory disclosure is the basic demand of the market, and voluntary disclosure is the extended demand of the market, because of its informative complement to the timing, content and depth of disclosure. With the weakening of seller＇s market characteristic in China, the voluntary disclosure behavior in the listed companies has been greatly encouraged. This paper provides a statistical description of the status quo of the voluntary disclosure behavior in Chinese listed companies, and claims that the voluntary disclosure strategy guided by the investor relations management should be included in the corporate strategies.