Title page for ETD etd-03032004-152156

Document Type Master's Dissertation
Author Schoonraad, Norle
Email schoon@unisa.ac.za
URN etd-03032004-152156
Document Title Managing financial communication: towards a conceptual model
Degree MCom(Communication Management)
Department Marketing and Communication Management
Advisor Name Title
Prof A F Grobler
Prof D G Gouws
  • financial communication
  • investor relations
  • financial public relations
  • accounting communication
  • conceptual model
  • inclusive approach
  • integrated approach
Date 2003-10-31
Availability unrestricted
The research problem this study seeks to address is that confusion exists regarding the nature, management and organisation of financial communication. Six objectives guide the research efforts.

Theoretical perspectives surrounding investor relations, public relations and accounting are used to describe the current approach to financial communication (Objective 1). Two main shortcomings of the current approach are identified (Objective 2):

- a lack of integration in the management and organisation of financial communication; and

- a narrow focus on communication with the financial community alone.

This leads to Objective 3 (theoretical justification for an inclusive approach to financial communication). Perspectives from the corporate governance, corporate social responsibility, stakeholder and public relations as relationship management literature are used to prove that organisations need to engage in financial communication with all relevant stakeholders, not only "financial" stakeholders.

In order to achieve Objective 4, the theoretical perspectives mentioned above are used to develop a conceptual model for an inclusive and integrated approach to financial communication. The model provides a point of departure for future research.

The empirical component of the study supplements the theoretical component. Quantitative, exploratory survey research is done to establish whether a number of South African companies listed on the Johannesburg Stock Exchange follow an inclusive and integrated approach to financial communication (Objective 5).

The main conclusions are:

- that there are indications of an inclusive approach to financial communication, although respondents varied in their opinions; and

- that there are indications of an integrated approach to financial communication, although the majority of respondents indicated that a single department takes responsibility for financial communication.

Similarities and differences between the results of this study and those of studies conducted previously in the USA, United Kingdom and Europe, are also identified (Objective 6).

Finally, the limitations of both the theoretical and empirical components are used to formulate recommendations for future research. It is recommended that future efforts concentrate on the contributions that disciplines such as marketing, law, economics and financial management can make to financial communication. The research strategy (qualitative or quantitative) also needs to be carefully considered.

  Filename       Size       Approximate Download Time (Hours:Minutes:Seconds) 
 28.8 Modem   56K Modem   ISDN (64 Kb)   ISDN (128 Kb)   Higher-speed Access 
  00front.pdf 223.49 Kb 00:01:02 00:00:31 00:00:27 00:00:13 00:00:01
  01chapter1.pdf 97.72 Kb 00:00:27 00:00:13 00:00:12 00:00:06 < 00:00:01
  02chapter2.pdf 143.12 Kb 00:00:39 00:00:20 00:00:17 00:00:08 < 00:00:01
  03chapter3.pdf 131.63 Kb 00:00:36 00:00:18 00:00:16 00:00:08 < 00:00:01
  04chapter4.pdf 187.25 Kb 00:00:52 00:00:26 00:00:23 00:00:11 < 00:00:01
  05chapter5.pdf 155.73 Kb 00:00:43 00:00:22 00:00:19 00:00:09 < 00:00:01
  06chapter6.pdf 221.86 Kb 00:01:01 00:00:31 00:00:27 00:00:13 00:00:01
  07chapter7.pdf 401.93 Kb 00:01:51 00:00:57 00:00:50 00:00:25 00:00:02
  08chapter8.pdf 1.74 Mb 00:08:03 00:04:08 00:03:37 00:01:48 00:00:09
  09chapter9.pdf 78.63 Kb 00:00:21 00:00:11 00:00:09 00:00:04 < 00:00:01
  10references.pdf 86.48 Kb 00:00:24 00:00:12 00:00:10 00:00:05 < 00:00:01
  11appendix1-3.pdf 216.12 Kb 00:01:00 00:00:30 00:00:27 00:00:13 00:00:01
  12appendix4-9.pdf 196.32 Kb 00:00:54 00:00:28 00:00:24 00:00:12 00:00:01

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