A Q study of investor relations professionals' beliefs concerning professional practices
This Q study revealed the beliefs about professional practices by investor relations professionals at publicly traded corporations in Illinois, Indiana, Michigan, and Ohio. Participants completed a fifty-four statement Q sort that included five areas of investor relations: tactics, shareholder relations, analyst/media relations, laws and regulations, and internal relations.The data from the completed Q sorts was then entered into the PQMethod software and two factors of investor relations professionals were identified: The Investor Relationship Professionals and the Technical Investor Professionals.The Investor Relationship Professionals believed that communication and good relationships were the most important aspects of their profession. The Technical Investor Professionals believed that the technical aspect of their position, including the laws and regulations surrounding their profession, should be the focus of their professional practice.The characteristics of the two factors that emerged can be directly attributed to the scandals at Enron and WorldCom. The focus on open communications and credibility are associated with the push to rebuild investors' trust and confidence in publicly traded corporations. The focuson laws and regulations are associated with the strict enforcement of the new SEC regulations that have emerged in the last three years. Thus, illustrating that the recent events have impacted the practices of investor relations professionals.