If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -In previous studies it remains unclear whether the internet is an effective mechanism for developing a symmetrical and interactive communications process that is initiated by the investor rather than the company. The purpose of this paper is to study the effectiveness of the internet to act as a mechanism to achieve a more interactive communication between companies and investors. Design/methodology/approach -A "mystery investor" approach is used to test whether companies reply to e-mails from investors. Content analysis was used to study the responsiveness, timeliness and relevance of the answers.Findings -The quality of symmetrical communication (in terms of responsiveness and relevance) appears relatively low. Companies with high-quality investor relations (IR) web sites do not handle e-mails more effectively. Therefore, high-quality asymmetrical communication between company and their investors not automatically associated with a high-quality symmetrical type of communication.Practical implications -Companies that provide e-mail facilities for investors create the impression that they welcome communications with investors. However, if companies fail to handle incoming e-mails from investors quickly and correctly, they create feelings of dissatisfaction. As a result e-mail facilities on web sites are counter-productive and hamper the creation of good relationships with investors. These results emphasize the need for better internal routing, better instructions and specific training programmes for IR staff. Originality/value -The paper provides original evidence on the potential of the internet to enhance symmetrical communication between companies and their investors. This paper contributes to a better understanding of the way the internet can be used by IR departments to enhance the communications with investors.
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