Thomas Ryan & Chad Jacobs 
Using Investor Relations to Maximize Equity Valuation 

A practical guide to proactive investor relations (IR)
Investor relations (IR) has traditionally been an administrativefunction within corporate communications, responsible fordisseminating public information and answering investor and mediaquestions. Using Investor Relations to Maximize Equity Valuationchallenges this approach, by arguing that IR has been underutilizedand then illustrating how it should be elevated to lead a strategiccommunications effort to preserve or enhance corporate value andlower a company’s cost of capital. Divided into four comprehensiveparts, this book clearly describes capital markets strategies andtactical operations that these former, senior-level equity analystsand portfolio managers employ.
Chad A. Jacobs (Westport, CT) and Thomas M. Ryan (Westport, CT) arethe cofounders and co-CEOs of Integrated Corporate Relations.

Table des matières

PREFACE A Brave New World of Investor Relations ix

INTRODUCTION A New Approach and Why It’s Important xiii

PART ONE Capital Markets and Their Players: A Brief Primer 1

CHAPTER 1 The Capital Markets and IR 3

CHAPTER 2 The Sell-Side Disclosed: Who They Are and What They Do 13

CHAPTER 3 The Buy-Side: Institutional and Retail Investors 21

CHAPTER 4 Employees, Suppliers, Customers 25

CHAPTER 5 The Media 29

PART TWO Post-Bubble Communications: Events in the Markets and the New World of IR 33

CHAPTER 6 Greed Is Good, ’90s Style 35

CHAPTER 7 Of Rules and Regulations 39

CHAPTER 8 Post-Bubble Reality 45

CHAPTER 9 Of Reason, Renewal, and Honesty 51

PART THREE Investor Relations–The Fundamentals: Traditional IR and the Need for Change 59

CHAPTER 10 Traditional IR: What It Is, and Why It’s Not Enough 61

CHAPTER 11 Staffing and Sourcing the New IR 73

CHAPTER 12 Grasping the IR Evolution 79

PART FOUR Investor Relations–Maximizing Equity Value

CHAPTER 13 Positioning IR to Succeed 87

PART FIVE Definition 99

CHAPTER 14 The IR Audit 101

CHAPTER 15 Excavating Value Post-Audit 113

PART SIX Delivery 121

CHAPTER 16 To Guide or Not to Guide: That Is the Question 123

CHAPTER 17 Targeting the Audience 137

CHAPTER 18 Integrating with PR 147

CHAPTER 19 Infrastructure/Disclosure Check 157

CHAPTER 20 Delivering the Goods 161

PART SEVEN Dialogue 191

CHAPTER 21 From Delivery to Dialogue 193

CHAPTER 22 Maintaining and Building Relationships 197

CHAPTER 23 Meeting The Street 205

CHAPTER 24 Event Management 213

CHAPTER 25 The Banker Mentality 233

CONCLUSION A Call for Change 245

APPENDIX A Two Press Releases 249

APPENDIX B The Conference Call Script 255

APPENDIX C Velocity Inc. 2004 Investor Relations Plan 261

INDEX 267

A propos de l’auteur

THOMAS M. RYAN is the cofounder and co-CEO of Integrated Corporate Relations. Tom was a managing director in the equity researchdepartment of BT Alex. Brown. He has participated as lead orco-manager on at least $5 billion worth of investment bankingtransactions, including bank financing, high-yield debt, equity, and M&A transactions. Tom has often been quoted in the New York Times, the Wall Street Journal, Investor’s Business Daily, International Herald Tribune, and the Wall Street Transcript. Hehas been a featured expert on CNNfn, CNBC, Money Talk (PBS), WNYCTV, and Bloomberg Television.

CHAD A. JACOBS is the cofounder and co-CEO of Integrated Corporate Relations. Before cofounding ICR, Chad was a vicepresident and managing director in the equity research departmentsof BT Alex. Brown and, before that, Ladenburg Thalmann. Chad hasbeen the focus of stories in USA Today, POV, the Wall Street Journal, Investor’s Business Daily, Women’s Wear Daily, Daily News Record, Footwear News, Transworld Snowboarding, and Action Sports Retailer. He also served as a roundtable member on CNNfn and as afeatured guest on ESPN2.