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ePaper created 2012-04-27, 18:36:07 | version 1.23.1
channels if they are to satisfy private inves- tors’ information requirements. The investor relations website is the main jumping-off point on the internet, and investors expect it to provide presentations, live events (e.g. teleconferencing, webcasts, online AGMs) and audio and video content. There is also a lot of interest in online annual reports. Social media are most relevant for communicating with younger people below the age of 40 and are used to obtain information on their investments and financial topics, with inves- tor forums, online knowledge portals and blogs currently the most popular forms. It has been shown, however, that users of these applications are not focused on a single chan- nel, but on social media more widely. There is also very strong demand for online presenta- tions, which can be found on IR websites and on platforms such as SlideShare. In the offline world, annual reports and printed shareholder magazines and letters are important media in communication with private investors. Online editions can make a useful addition to these printed products. They are in greater demand than live events such as the annual general meeting, financial trade fairs, investor forums and open days. Private investors also make ample use of information and advice from investor protec- tion associations. Contrary to expectations, little use is made of tips from friends and acquaintances or even advice from banks and investment advisors in learning about invest- ments and making decisions. Companies enjoy a lot of trust, exceeded only by journal- ists (print and online financial publications, and also online portals). Nevertheless, private investors are only mod- erately satisfied with the information pro- vided by companies: IR websites enjoy the greatest recognition, and at the same time online communication is regarded as having the most potential for improv- ing the way in which it addresses pri- vate investors. The survey respondents want a trustworthy, free, professional IR information policy, under which they receive the same information as institutional investors. In addi- tion to hard facts such share price information and key data, private investors mainly want informa- tion on products, the company’s strategic direction and the quality of manage- ment. The study shows that private investors differ in the way they access information based on their age and affinity with the internet and social media. Investment behaviour, encom- passing factors such as risk appetite, invest- ment experience, involvement and portfolio diversification, has less of an influence on how information is obtained. The survey findings presented here give an insight into private shareholders’ investor relations needs, and so could provide valuable stimuli for tar- get group-specific, transparent, comprehen- sive communication. online communication is regarded asonline communication is regarded as having the most potential for improv-having the most potential for improv- ing the way in which it addresses pri-ing the way in which it addresses pri- vate investors. The survey respondentsvate investors. The survey respondents want a trustworthy, free, professionalwant a trustworthy, free, professional IR information policy, under whichIR information policy, under which they receive the same informationthey receive the same information as institutional investors. In addi-as institutional investors. In addi- tion to hard facts such share pricetion to hard facts such share price information and key data, privateinformation and key data, private products. They are in greaterproducts. They are in greater demand than live eventsdemand than live events such as the annual generalsuch as the annual general meeting, financial trade fairs,meeting, financial trade fairs, investor forums and openinvestor forums and open triangle bikini at Lascana Translucent tunic from Palmers Oriental Ankle-strap sandal from Görtz information and key data, privateinformation and key data, private investors mainly want informa-investors mainly want informa- information and key data, privateinformation and key data, private Summer hat from Görtz 108 DES Annual Report 2011 INVESTOR RELATIONS the shopping center share