IR Magazine has released a new report investigating how companies engage with investors on governance and related issues outside of the proxy season. The report examines the different types of governance-related activities companies engage in with investors in the off-season and what issues are discussed. The report further looks at who investors meet with in the off-season and what impact this type of engagement has on investor relations and proxy voting.
Findings are based on the IR Magazine Global IR Survey conducted in Q1 2020 and the IR Magazine Global Investor Survey conducted in Q4 2019. Data in the report is broken down by both region and company size.
Key findings
- Almost two thirds of IR teams have a program of activities relating to governance issues outside of the proxy season.
- Governance roadshows and shareholder forums are the most common governance-related activities undertaken by companies outside of the proxy season.
- Companies are most inclined to conduct off-season engagement with their top shareholders.
- More than four in five companies and three quarters of investors believe off-season engagement results in strengthened relationships.
- Just over a third of investors and 43 percent of IROs think off-season engagement will increase support for the company in proxy voting.
- More than a third of investors see off-season governance engagement as being principally initiated by them, while just over a quarter view it as mostly initiated by the company.
- Just under one in three investors have experienced a governance-related roadshow, while a third have been part of an off-season shareholder forum.
- The most commonly discussed issue in off-season engagement is corporate strategy.
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