A quarter of Asian companies and a minority of small and mid-cap companies went on the road in person in the year to Q3 2022. The highest number of times on the road during this period was seen by European companies, averaging 2.4 in-person roadshows, and mega-cap firms, which went on an average of 3.6 in this time.
In-person roadshow activity picked up significantly in the second half of 2022. With the exception of mega-cap firms, companies in every region and of all company sizes went on more in-person roadshows in H2 2022 than they did in the entire previous year.
Just 14 percent of European companies hosted an in-person site visit in the year to Q3 2022 and only 3 percent hosted a virtual site visit. A fifth of Asian companies held a virtual site visit during this time.
European firms continued to have lower presence for both in-person and virtual site visits in the second half of 2022. Asian in-person site visits picked up significantly in the latter half of 2022, averaging 3.2 in these six months.
Just 5 percent of small-cap companies hosted virtual site visits in the year to Q3 2022, compared with just under a fifth of mega-cap companies. At the same time, mega-caps hosted significantly more in-person site visits than companies of other cap sizes.
Over the second half of 2022, smaller companies made up for lost time in reintroducing site visits in person, hosting more than twice as many in-person site visits in the last six months of 2022 than they held for the whole previous year.
There is little regional difference in the percentage of companies holding in-person investor days in the year to Q3 2022. European and Asian companies were more than twice as likely as North American companies to be holding virtual investor days in this time.
Asian companies held considerably more investor days, both virtual and in person, than their North American and European counterparts. This is true of both the 12 months to Q3 2022 and the last six months of 2022.
According to company size, the likelihood of holding both in-person and virtual investor days increases with market cap. Large-cap companies held the most in-person investor days in the year to Q3 2022, while mid-caps held the most virtual days in this time. Mega-cap companies held the most investor days in both formats during the second half of 2022.
Participation in investor conferences varied dramatically by region in the year to Q3 2022. While 85 percent of North American companies attended conferences in person during these 12 months, just 38 percent of Asian companies attended in-person investor conferences in this time.
This is reflected in the number of conferences attended regionally in this period, with North American companies attending the most in-person conferences and Asian companies attending the most virtual conferences. In-person attendance evens out regionally in the six months to the end of 2022, while Asian companies were still attending the most virtual conferences.
According to company size, small-cap companies were typically less likely to attend investor conferences in either format and attended fewer conferences on average in the 12 months to Q3 2022. They continued to attend fewer conferences than companies of other sizes in the following six months, though to a lesser degree, attending the same number of in-person conferences as mid-cap companies in this time.
