Vektor by ARIR 2023 - Investor communication indicator for listed companies

20 companies listed on the Bucharest Stock Exchange received maximum scores for investor communication, out of 120 companies evaluated
Vektor, ARIR, Mazars

ARIR (Romanian Investor Relations Association), the promoter of the Investor Relations (IR) concept, announces the results for VEKTOR by ARIR for 2023, the indicator that evaluates investor communication for listed companies.

  • 16 companies listed on the Main Market of the Bucharest Stock Exchange have received maximum scores for the 2023 VEKTOR by ARIR evaluation, the same number as last year;
  • 4 issuers out of the 38 included in BETAeRO have received VEKTOR by ARIR 10 for investor communication, double compared with last year;
  • The indicator will also be extended to companies issuing bonds starting from 2025.

Mazars audits the VEKTOR valuation results every year.

Răzvan Butucaru

The VEKTOR results show Romanian companies' dedication to transparent investor communication. I believe that effective communication and strong governance aren't just ideals; they're essential pillars for building trust, making informed decisions, and ensuring long-term success. Congratulations to ARIR for the continuous commitment to trust and transparency, to the Mazars team for the hard work in performing the independent review of the results, and to the companies involved for setting a high standard in investor relations and corporate governance. Together, we're shaping a more transparent and resilient business market.

Răzvan Butucaru Partner, Financial Services & Advisory Leader

VEKTOR by ARIR 2023 results

In the Main Market, out of 80 evaluated companies, 16 have achieved VEKTOR by ARIR 10, based on a methodology that includes 10 criteria, which was updated in 2023 by a committee consisting of 12 members, representatives of institutional investors, individual investors, brokers, analysts, and representatives of institutions from the capital market, to enhance interaction with investors. For the companies included in BETAeRO, 4 companies out of 38 evaluated have obtained VEKTOR by ARIR 10 for communication with investors, based on an adapted methodology, which includes 11 criteria.

VEKTOR in 2024

The updated VEKTOR methodology for 2024 is now available, and you can read more details below. 

Find out more