The Influence of Cyber IR at Stock Prices on the Korean Stock Market
Authors:   Asia-Europe Perspective Association, Moon Hyung-Nam , Choi Jeong-Il , Lee Ok-Dong 
Published: June 2018

This study is for understanding the current situation of cyber IR in domestic corporations and its effect on their stock prices. IR is a abbreviation of Investor Relation and the strategic management activity that the listed company in the stock market actively and clearly make public their informations to investors. Listed companies try to force up their good images in the stock market by IR's activity.
To achieve the purpose, investigations have been done regarding the retained condition of IR sites of total listed enterprises and registered companies. From the extracting random samples of the 100 listed enterprises and another 100 registered companies, we evaluate the IR sites of the applicable companies.
We firstly take a look at how far the public are satisfied with the domestic corporations' IR website, which provide various range of information. For the research, we have conducted a survey of a group consists of analysts and fund managers.
In this survey, it grapped the fact that more than 70% of the marketable securities and KOSDAQ corporations retain IR sites. Furthermore, it also shows that the stock prices of corporations which operate successful IR site are much higher than that of the companies which does not.
Moreover, as companies conduct cyber IR more successfully, the more truthful relationship with investors are tend to be built. It brings the result that the financial information provided by corporations are highly reflected on its stock price. As it can be seen in the analysis, cyber IR does affect corporations' stock prices and improve the relevance between the stock price and all the other information by establishing faithful relationship with investors at the same time.
For the most, domestic corporations supply their financial information through IR sites. CEO messages and articles regarding corporate action on the media also take great amount of supply, while information such as future performance estimation, credit rating, analyst report, IR schedule is relatively dealt less in ratio.
We can conclude the followings regarding how to operate successful IR site based on the result of the survey of investors.
1. An IR site should be designed for an easy access for its users.
2. An IR site should be designed and operated concerning the users' convenience.
3. The information supplied via IR site should contain future prediction as well as past facts.
4. An IR site should contribute to build confidence between the corporations and investors through supplying sufficient information regarding corporates' governance structure.
We can show that the rising of stock prices is related to IR activities of corporations and IR activity increased the confidence of corporations to investors. Fund managers and foreign investors have the positive relation for the lot of corporation informations about IR activities.
Formation and strategies of an IR site should consider the foreign and institutional investors' holding percentage or major shareholders' composition. Furthermore, it also should be awared that IR site of a certain corporate can highly effect its stock price.