The Center for Research in Financial Communication initiates, coordinates, and implements research projects in the field of financial communication. We aim to provide a differentiated and reliable scientific basis for this vital field. Practical and innovative topics will be investigated to support the professionalization of financial communication.

Numerous representatives of companies and associations are involved in CRiFC research as experts or partners and provide a valuable source of ideas.

Research topics

Overview of all projects

Projects topics

Projects type

29 Results found
February 19, 2024

Corporate Purpose in Financial Communication

This CRiFC study examines the extent to which corporate purpose is addressed in the letters to shareholders of the DAX 40 companies.

January 17, 2024

Diversity in the annual report

This short study examines how DAX 40 companies deal with diversity aspects in their annual reports, which dimensions are mentioned and to what extent key figures on these dimensions are also communicated.

December 4, 2023

Videos in Investor Relations

Video formats have become an integral part of the everyday lives of many media users. Young “Generation Share” investors in particular prefer information on capital market topics in video format – be it content from media and finfluencer or from companies (Jonas et al., 2022). The short study examines the use of videos on the […]

September 13, 2023

Reporting Perspectives

The longest continuously conducted analysis of online reporting in Germany and Switzerland

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Research on “Strategy & Value Creation” focuses on how financial communication can help corporations achieve their strategic goals.

Capital market participants are among the most important, influential, and critical corporate stakeholders. Financial communication, therefore, is a strategically important business function. Numerous studies prove the value contribution of excellent financial communication

Intensive and targeted communication with the capital market provides companies with strategic leeway. This requires a solid understanding of the capital market perspective and a convincing communication strategy.

Although financial communication acts in a tight regulatory framework, there are ample chances for communicative differentiation and goal-oriented maintenance of capital market contacts.

Financial communication is an influential innovator within corporate communications. Today, its strategic importance is widely acknowledged – not least, because key executives share responsibility for financial communication.


  • Strategies in the field of investor relations and financial communication
  • Organization of financial communication in the company
  • The role of CEO and CFO in financial communication
  • Changing information needs of (international) stakeholder
  • International comparison of financial communication
  • Analysis and development of equity stories
  • Impact of guidance and medium-term forecasts


Research on “Capital Markets” focuses on the expectations and needs of capital market participants as well as their influence over the performance of the capital market.

The capital market is an institution of tremendous importance – for investors, and companies, but also for society as a whole. Thus, financial communication is strongly regulated and also regularly subject to conflicts of interest.

The analysis of capital market participants, their information needs, and their habits, provides an important foundation for financial communication. Legislators, authorities, and companies are committed to transparency, liquidity, and trust in the capital market. However, the rules of global capital markets are subject to constant change.

In the context of capital market transactions, such as M&A or IPOs, communicators require a throughout understanding of the moods and assessments of the market participants. Only then can a convincing communication strategy be implemented.


  • Role of communication concerning the overall economic importance of the capital market
  • Transparency and trust in the capital market
  • Strategies in the context of capital market transactions
  • Storytelling in financial communication
  • Communication with bond holders


Research on “Reporting” focuses on the challenges, trends, and drivers of reporting.

Reporting is the nucleus of financial communication and is as old as stock corporations themselves. Today, reporting requires considerable business resources – but also offers the opportunity to differentiate and position the company in the financial community.

As a result, companies regularly question common practices, analyze the needs of their target groups and explore new paths. Social, legal, and technological developments leave their marks on reporting practices.

Reporting always involves an attempt to convey relevant knowledge to stakeholders. Therefore, a clear, activating, and convincing communication approach is necessary. In addition to financial indicators, information on strategy, governance, and sustainability is increasingly becoming subject of reporting. Keywords such as Integrated Reporting illustrate the challenges of consistent communication.


  • Strategy communication and storytelling
  • Importance of non-financial factors in reporting
  • Status quo and reporting trends
  • Channels of corporate reporting
  • Reception of reporting in the media


Research on “Digitalization” focuses on how new communication technologies are changing the needs of stakeholders as well as the processes and instruments of financial communication.

Digitalization is shaping international capital markets – which today are more intertwined, faster, and more transparent than ever, but also exposed to new forms of manipulation or technical errors. Digital media enable participation but also create unequal access. Habits and regulations do not always keep up with the pace of technological innovation. Financial communication therefore also experiences a digital disruption.

Companies continuously develop and improve instruments of financial communication. In this context, digitalization leads to greater variety, new needs, and increasing demands by stakeholders.

Therefore, financial communication needs to master the challenges of digital transformation. In doing so, it can learn from other communication disciplines. Network communication requires integrated planning and controlling of messages and channels, regular monitoring, and balanced dialogue with clearly defined target groups.


  • Adaption of communication strategies with regard to digitalization
  • Change of communication needs and habits
  • Development of new content and media formats
  • Building competences within financial communication