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The purpose of this paper is to apply a third-person effects theory to the study of corporate social responsibility communications. Previous studies have asked what importance investors assign to the socially responsible activities of corporations. However, in the context of publicly-traded companies, it becomes important not only to calculate the effects of available information on an individual investor, but also to estimate the effects of every piece of information on the investor’s perception of the investment community at large.

The study uses a survey methodology in order to evaluate what value respondents assign to socially responsible behaviors as well as to identify a presence of third-person effects in the corporate social responsibility evaluations. Using an online survey, the respondents were asked to read a modified news article and the respond to a series of questions. In total, 96 completed surveys were collected and analyzed.

The research finds the presence of third-person effects incorporate socially responsibility message processing. The results of the study show that, while individually people are supportive of the socially responsible behaviors of corporations, they perceive others to be less supportive of such behaviors; they also see others as less likely to encourage such behaviors through action. As a result, people are less likely to act on their own views of corporate socially responsibility as they perceive themselves to be outliers. These findings lead to important consequences for investor communications, which are discussed in light of the efficient market hypothesis.

From an academic standpoint, the study proposed that in investor and financial communication, third-person effects could play a significant role. Yet, third-person effects research in investor relations literature simply does not exists. Thus, the study’s main contribution is expanding third-person effects theory into the field of the investor relations research.

From practical standpoint, expectations and perception of corporate social responsibility have a significant effect on corporate reputation and, thus, communication about corporate social responsibility become important as they shape these perceptions and expectations. Yet, such corporate social responsibility issues may include a variety of matters, such as governance, responsibility, and the quality of social and economic choices, sometimes even contradictory to each other. It becomes a job of investor relations managers to study, analyze, and respond to these competing demands.

From societal standpoint, the study advances the debate on the role of corporations in the society. With such concepts as social license to operate and creating shared value, and the growing expectations about corporate behavior, understanding the stakeholders perceptions of socially responsible behavior of corporations as a function of their perceptions of other stakeholders’ viewpoints, creates a better understanding of the complexities involved in the issue of corporate social responsibility reporting.

Since investors and other financial publics are not homogenous and may have different perspectives, opinions, values, etc., they may react to the same information differently. Furthermore, they may expect others to behave differently and such perceptions, whether accurate or not, may, in fact, influence their own behavior, as third-person effects theory would suggest. Investor relations, then, becomes a function of managing these expectations. The presence of the third-person effects in investor communications can have a strong effect on market behavior and, thus, must become an important part of the investor relations professionals’ job – how the messages are crafted, communications, and measured. Yet, third-person effects is non-existent in the investor relations literature. Thus, the study provides an original contribution by applying a third-person effects theory in the investor relations research.

Between 1985 and 2000, the six largest US pharmaceutical firms entered a very active period of partnerships with other pharmaceutical firms to expand their knowledge of biotechnology-based research and development (R&D) frameworks and to bolster the growth of their drug portfolios. The purpose of this study is to examine the annual reports published by these companies for evidence of strategic framing of these partnerships.

A content analysis method was most appropriate for this study, as it allows for analysis of a large amount of information and accurate analysis over time. Ninety-six annual reports from the six major US pharmaceutical firms (Abbott, Bristol Myers Squibb, Eli Lilly, Johnson and Johnson, Merck, and Pfizer) were coded. The final codebook included 18 categories derived from framing theory. After collection, the data were uploaded to SPSS for statistical analysis.

Results indicate that mention of partnerships grew considerably in depth and length over time, but companies did not consistently employ frames to describe why or how they engaged in external partnerships.

This is the first study to assess mentions of pharmaceutical firms' external efforts to build their R&D programs and drug portfolios, from the intersecting perspectives of framing theory and the resource-based view (RBV) of the firm, to illustrate how changes were communicated to shareholders during a dynamic period of change within the industry.

Publicly-held companies collectively allocate tens of millions of dollars each year to investor relations, yet little research has been conducted into how investor relations officers (IROs) try to determine the effectiveness of this investment. The purpose of this paper is to discuss the above issues.

This exploratory study is based on a survey (n=384) of IROs who are members of the National Investor Relations Institute (NIRI), the world's largest professional investor relations association.

Respondents strongly rebuked using share price as a valid measure of investor relations performance. A factor analysis revealed that IROs use four factors to measure program success (listed in order of stated importance): first, international C-suite assessment; second, relationship assessment; third, outreach assessment; and fourth, external assessment. IROs at large-cap companies place significantly more importance on both C-suite assessment and relationship assessment than their peers at small-caps.

These results may not be generalizable to IROs who are non-NIRI members or investor relations consultants. Cross-cultural studies on this topic are needed.

The evaluative factors that emerged in this study may be used by IROs to develop and refine their evaluation metrics relative to their peers.

This is one of the first and largest studies to specifically examine program measurement and evaluation in the context of investor relations. These findings help set the stage for future work in this area.

This paper aims to develop five public relations scales as a substitutions for models/dimensions that were subject to much criticism. Based on this conceptual re‐evaluation of the excellence study, one of the dominant public relations paradigms, the manuscript proposes a measurement approach for the public relations practice.

This is a conceptual paper based on a critical literature review aimed at understanding the errors in the public relations models conceptualization and their empirical tests. Based on this review, new and improved scales of public relations are proposed.

The study developed five scales of public relations as substitutions for models/dimensions. The study proposed a measurement approach for the public relations practice. Finally, the study concluded that further research advancing the excellence scholarship is essential to better understanding the profession of public relations.

This manuscript creates a measurement approach which public relations practitioners can use to plan, monitor, and evaluate public relations campaigns and ongoing programs, as well as to manage knowledge and expertise of public relations practitioners and departments, and the expectations of the dominant coalition toward the public relations unit.

This re‐conceptualization can finally address the criticism of the earlier models and dimensions of public relations, establish a measurement approach for the practice of public relations, as well as provide a tool that can be used by both academic and practitioners in planning, monitoring, evaluating, and managing public relations.

Corporate social responsibility (CSR) continues to evolve as a theoretical concept that increasingly integrates social aspects such as diversity, equity, and social justice (DEI). The study reported in this chapter tests the effects of inclusion as a CSR strategy on key characteristics that develop brand connection with female millennial consumers. Using the Self-Brand Connection theory, we test such components of brand connection as values, identity, and perceived connection. Using an example of a cosmetic brand that chooses to either offer an inclusive or noninclusive lineup of skin care products, the study uses an experimental design to present these two scenarios to two independent samples of female millennials. Results suggest support for the importance of inclusion as the respondents exposed to the inclusive scenario had a more positive attitude toward the brand in all components of brand connection versus respondents exposed to a noninclusive scenario. The difference between the groups was statistically significant in every case. We conclude that inclusion as a component of CSR has a significant impact on female millennials' self-brand connection. As a result, corporations should consider CSR effects in terms of inclusion when developing their branding strategies.

While investor relations have become an established corporate function, research into how investor relations officers (IROs) practice measurement and evaluation is limited. The purpose of this paper is to examine which approaches and metrics IROs use to gauge their success.

To address this gap in the literature, this study surveyed (n=384) the corporate membership of the National Investor Relations Institute (NIRI), the world's largest investor relations association, on the topic of measurement and evaluation.

The results indicate that IROs strongly (80 percent) believe that mixed-methods (i.e. both quantitative and qualitative methods) should be used to measure the success of investor relations. Mixed-methods advocates place significantly more importance on measurement than IROs that prefer quantitative- or qualitative-only approaches.

The results of this survey indicate that IROs typically place the most value on metrics that are qualitative, non-financial and relationship-oriented. These findings suggest that IROs believe they should be evaluated in large part on their competency at relationship management.

From a benchmarking perspective, these findings suggest that IROs looking to align with their peers should use a mix of both quantitative and qualitative evaluation measures that are non-financial and relationship management-focused.

These findings contribute to recent efforts to explicate a general theory of investor relations. While investor relations scholarship has grown in recent years, up until this point, little attention had been paid to measurement and evaluation.

The purpose of this paper is to review the historical development of the models/dimensions of public relations. The extensive criticism of the models and dimensions is provided to better understand the strengths and weaknesses of the concept.

The paper is based on a critical literature review to understand the roots of the models, their empirical tests, the modifications applied to the models over time, and finally the proposed shift from models to dimensions of public relations.

The study concludes that the attempt to translate the public relations models into the dimensions failed because of a variety of conceptual and methodological flaws. Yet, the idea of developing dimensions of public relations is a viable and practical step in advancing public relations research; however, such dimensions must be continuous, dichotomous and measurable.

Models of public relations first became a dominant theoretical perspective in public relations only to virtually disappear from the research agenda later. This paper calls the attention back to the models/dimensions to revive the research in this area.