NEW YORK: A survey of 500 public companies conducted by IR teleconference provider MessageBank found that companies have been leveraging internet technology in recent years to expand the reach of their investor conference calls.
The survey found that 90% of respondents now provide digital replays of their calls to accommodate investors unable to listen to a live call.
The number is up from 66% in 2000. Currently, more than 80% offer audio conference calls via the web.
The survey also found a bump in the number of companies actually having conference calls, as 83% of those polled conducted investor calls in 2002, while 72% reported holding calls in a similar survey in 2000.
"I think we are seeing companies realize the importance of increased disclosure in this environment," said Ken Gesund, an executive at MessageBank.
In addition to the increase in the use of conference calls, the survey found that the IR sections of company websites have also witnessed a rapid expansion in recent years. Eighty-six percent of companies in the survey presently have IR pages on their websites, compared with just 55% in 2000.
There was also evidence that such calls are being opened to multiple audiences, including the media. In 2002, 27% of respondents opened their calls to the media, while only 14% did so in 2002. Eighty-five percent of the companies allowed call participants - including the media - to ask questions on their calls.