Michael Strohmer

Communication of global companies with the capital market Michael Strohmer

Dissertation / Doktorarbeit, die am 01.11.1998 erfolgreich an einer Universität in Österreich im Fachbereich Sozial- und Wirtschaftswissenschaften eingereicht wurde. Abstract: Communication of global companies with the capital market is a very actual topic and becomes more and more important nowadays. A good communication is necessary for all companies listed an the stock exchange. I wrote about this topic because firstly communication in general is interesting for me and secondly since a long time I was fascinated by the capital market and by the facts that a company has from one day to the other more or less value and that people make a lot of money by following and analysing information of global companies. So I wanted to treat communication in general, then going more into detail in investor relations, which is a special kind of communication (financial community). My goal for this chapter was to show the ways of communication of global companies with the capital market in the form of reports, key figures etc. Activities have to be done by law and that is why we can find in regulations for these activities everyday life. Also communication has to be regulated. As regulating authorities the BWA (Bundeswertpapierausicht), the SEC (Securities and Exchange Commission) and the NASD (National Association of Securities Dealers) are mentioned. They regulate and supervise communication and information. The most dangerous information for the capital market - and the efficiency of the capital market - is insider information, which cannot be avoided. Insider information and the forbidden part of it, insider trading, are also treated as a kind of "forbidden communication". The last part is a study about a global company, VA TECH. VA TECH is a global company based in Austria and has got a "leadership in communication" in Austria. Most of the information in part one can be found presented an the example of VA TECH in part two. I also listed the different communic...