4th Symposium on Economic and Financial Communications
The 4th Symposium on Economic and Financial Communications of the Department of Media and Economics at St. Pölten University of Applied Sciences recently took place at the Vienna Stock Exchange. This year's symposium was dedicated to the subject of "Digital Financial Communications". The programme included lectures on big data, algorithms, and robotics in investment communications and financial journalism.
More than communication of financial data
The programme afforded insight into the many worlds of digital financial communications and closely examined current developments. For example, the journalist Alexander Fanta questioned what role financial journalists play in an age when algorithms write stories. Erwin Hof from the Vienna Stock Exchange and Nikolaos Nicoltsios from wikifolio discussed whether financial journalism in a time of social trading can still be useful for investors. In their lectures, they provided an impression of the social-trader scene.
"Financial communication is more than the communication of financial data. Its impact extends far beyond the financial world and affects each of us individually. Good financial communication is increasingly digital and requires an interdisciplinary approach. We must deal with relevant developments and also as economists or communicators begin to consider technology as an integral part of our activities. In practice, we lag far behind the technical possibilities. At this year's symposium, we not only wanted to show what opportunities digital technologies open up for us but also discuss them critically", said Monika Kovarova-Simecek, initiator of the event and Head of the Master programme Economic and Financial Communications, which will begin in autumn at St. Pölten UAS.
Digitalisation: good and questionable at the same time
Digital technologies promise investors personal information, virtual events as well as audio and video webcasts. Representatives from two consulting companies in the field of digital financial communications, Knut Wichering from EQS and Christoph Schrills from sentifi explained how this works. Director of Statistics Austria Konrad Pesendorfer, revealed what role statistics currently plays and will play in the future.
Summary of the symposium: Digitalisation has so far engendered much that is good but also much that is worth questioning. In times of social media, alternative facts and fake news, data quality and valid sources are gaining in importance.
Brief but profound - poster session with insight into eight financial worlds
At a poster session, students as well as lecturers in the Master programme Digital Media Management of St. Pölten UAS presented results of their research projects on the topics of: robo-advisors in banking, online communication in investor relations, social-media presence of stock markets, sociology of money, eXtensible-business-reporting language (XBRL), digital- financial reporting as well as financial literacy and the information behaviour of private investors.
Cooperation partners of the Symposium on Economic and Financial Communications were: the Wiener Börse (Vienna Stock Exchange), Circle Investor Relations Austria (CIRA), Finanzjournalistenforum (Financial Journalists' Forum), Public Relations Verband Austria (PRVA) (Public Relations Association Austria), Industriellenvereinigung Niederösterreich (Federation of Lower Austrian Industry), CCR Zurich and APA-OTS.