Views from the investor community

PwC is continually deepening its understanding of investors' viewpoints. Through our work with the Institute we use various tools like surveys and meetings -- both large and small -- to hear directly from investors so we can learn what they are thinking.

Investor views

Bridging the gap: Aligning the Responsible Investment interests of Limited Partners and General Partners Bridging the gap: Aligning the Responsible Investment interests of Limited Partners and General Partners
PwC’s analysis of investor attitudes to responsible investment in the private equity industry - explores Limited Partners (LPs) (typically institutional investors providing capital to the Private Equity sector for investment) and their attitudes to Environmental, Social and Governance (ESG) investment issues. Respondents included major asset management investment companies and pension investors including the California State Teachers Retirement System, UK Universities Superannuation Scheme and Swedish Pension Funds.

What matters in the boardroom? Director and investor views on trends shaping governance and the board of the future
This research compares the response of PwC’s 2014 Annual Investor Directors Survey and PwC’s 2014 Investor Survey in order to compare and contrast the points of view between directors and investors on key issues.

Investor Perspectives: How investors are shaping boards today…and into the future
Successful investors continually look around the corner to anticipate the next challenge and the next opportunity, both today and tomorrow. And investors expect the companies they invest in to be similarly forward thinking. So what’s important to investors, and what do they expect of corporate directors? Our second annual survey takes a look.

Five megatrends and their implications Non-GAAP financial measures (August 2014)
Companies often use non-GAAP financial measures to provide insights into their business. Investment professionals share their perspectives on the value to investors, their effect on transparency, and perceptions on management.

Five megatrends and their implications Sustainability goes mainstream
What do investors think about sustainability? Are they incorporating environmental and social issues into investment practices and strategies, and will they in the future? We asked investors about these issues to learn more about their perspectives.

Disclosing cash held offshore (March 2014) Disclosing cash held offshore (March 2014)
In our discussions with members of the investment community, they noted that income tax issues are very important to their analyses and they desire more transparency into the impact of income tax related decisions on companies’ financial reporting.

The Audit The Audit (April 2013)
Accurate and reliable financial statements are essential to the effective functioning of the capital markets. To that end, auditors play an important role by executing independent and objective audits of the financial statements that are prepared by management.

Non-GAAP measures Non-GAAP measures (April 2013)
Companies in the United States typically follow generally accepted accounting principles (GAAP) when preparing financial statements. A non-GAAP measure is defined as a measure that excludes (or includes) amounts that are included (or excluded) in the most directly comparable measure calculated in accordance with GAAP. However, non-GAAP measures do not include operating and statistical measures (e.g., unit sales or numbers of employees) or measures of performance for each segment required to be disclosed by the accounting standards.

Investor views, Management’s Discussion and Analysis Management’s Discussion and Analysis, investor views (February 2013)
The MD&A requirements call for a discussion of: the historical financial results for the period covered by the financial statements (typically three years), liquidity, capital expenditures, off-balance sheet arrangements, contractual obligations, and known prospective information. They also encourage management to describe matters that are most significant in the company’s circumstances and to avoid boilerplate discussions.

PwC Real Estate Investor Survey: PwC Segment footnote disclosures, investor views (February 2013)
US accounting standards require public companies to disclose, in their financial statement footnotes, segment data based on the “management approach”, under which investors are provided with a view of the business through the eyes of management.

Investor surveys

2013 Annual Corporate Directors Survey & 2013 Investor Survey comparison 2013 Annual Corporate Directors Survey & 2013 Investor Survey comparison (November 2013)
How do corporate directors think they’re doing in their oversight roles? How does this compare to what investors think? What attributes do investors say are important in prospective board members? What about directors? Are communications increasing between directors and investors, as well as other stakeholders? We asked directors and investors about these and other boardroom matters, and the messages vary. Often, it depends on whose shoes you’re in.

PwC’s 2013 Investor Survey PwC’s 2013 Investor Survey
What most concerns investors? What do investors expect of corporate directors? How do investors view the current quality of corporate disclosures? We asked investors about these issues, and the message received is clear: Investors want to know more about the risks that companies have identified, and how they are managing them. And investors are looking for more information.

Investor Perceptions of Audit Firms, and independent survey of the investment community Investor Perceptions of Audit Firms, an independent survey of the investment community
Investors view the audit as an important piece in the puzzle that contributes to their overall confidence in a company's financial reporting. Yet, historically there has been very little direct communication between auditors and the investment community. This independent survey asks investors what they are looking for from auditors, and from financial reporting in general.

Investors anticipate opportunities in commercial real estate across all... Investors anticipate opportunities in commercial real estate across all ... (December 2012)
Greater investor optimism in retail, especially for national regional malls; technology office markets and warehouse sector showed steepest cap rate declines in Q4.

Do investors care about corporate sustainability? Research uncovers seven ... Do investors care about corporate sustainability? Research uncovers seven ... (March 2012)
A review of investor research reveal a trend that more investors are using corporate sustainability reporting to inform investment strategies. Sustainable investing outpaces the growth rate of conventional investment assets under professional management.

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