Co-Constructing Relationships in Investor Communication: A Strategic Communication Perspective

The strategic role of financial communication and investor relations has been recognized on a general level; however, the relational aspect of investor relations has gained limited attention in scholarly research. In this paper, we purport that in order to understand the strategic significance of investor relations, it is important to gain a more fine-grained understanding of the diverse and dynamic nature of these relations and the ways in which they are discursively produced and negotiated. In this study, therefore, we draw on a communication-centered view on stakeholder relationships as jointly constructed through communicational practices. Revisiting our earlier empirical research on earnings calls, we elaborate and illustrate how different aspects of company–investor relationships play out at the level of discourse and interaction and how they bring forth issues of strategic nature and significance. The article provides a structured reflection on the strategic potential of relationships in investor relations communication.