An exploratory study of chief executive officers (CEOs) in Florida nonbanking public companies found that top executives do not perceive investor relations to be part of the public relations function. A mail survey (31% response rate) revealed these CEOs favor financial affairs executives and departments to supervise and conduct investor relations, and they perceive both the investor relations and public relations functions to be more technically than managerially oriented. These findings corroborate concerns of encroachment in public relations by those without public relations training or experience. The study also raises the larger question of whether public relations practitioners could be trained in such a way to garner CEO support for a role in the investor relations function.
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Petersen et al. (1996) studied this question.