Introduction

What is in the report?

IntroductionIR is different for small-cap companies. The resources available, level of engagement with the investment community and priorities of internal governance all lead to a contrast between the practice of IR at small-cap companies and at larger firms. This is something IR Magazine has regularly found in its reporting over the years.This report looks at our recent research to see the extent to which IR at small-cap companies differs from, or is similar to, IR at larger companies. We examine four key areas to identify this:

We begin by examining the resources available for IR, from team sizes and responsibilities to budgets and outsourcing

The report then goes on to look at the nature of senior management involvement in investor relations at small caps compared with companies of all sizes

This report also examines engagement with the investment community, from analyst coverage and targeting to investor meetings and reporting

Finally, we look at the challenges the investment community faces when looking to invest in small-cap companies.

Data in this report is taken from IR Magazine’s Global IR Survey from Q2 2017 to Q3 2019. This is our biannual survey of IR professionals around the world. Historical trend analysis in this report uses data taken from the same survey process dating back to 2011. As data is taken from several surveys there is no one total number of respondents.The investor view section of this report uses data taken from the latest round of IR Magazine’s Global Investor Survey, which was conducted in Q4 2019. For the purposes of this report the following cap size definitions are used:

Introduction
Small-cap IR by the numbers
IR resources
Senior management
Investor engagement
The investor view