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PurposeMarket-oriented relations has been regarded as a kind of public relations practices widely performed by the practitioners of public relations and marketing. This study attempts to discuss market-oriented relations in the digital era in which public relations and marketing practitioners' involvement in managing market-oriented relations was simultaneously related to their perceptions of interactivity effects, value of public relations and benefits of digital media usage in public relations practices.Design/methodology/approachA self-administrated online survey targeting 241 practitioners engaged in coordinating public relations activities in Hong Kong was conducted in 2017.FindingsStructural equation modeling (SEM) analysis showed that practitioners' involvement in market-oriented relations practices had significant positive effects on their perceptions of interactivity effects, value of public relations and benefits of digital media usage. Practitioners' perceptions of interactivity effects and benefits of digital media usage were positively affected by their perceptions of public relations value, particularly public relations effectiveness. Clients' profitability and business intelligence, as well as interactivity effects in terms of involvement and perceived customization were practitioners' key concerns in managing market-oriented relations.Originality/valueThis study explores how practitioners of public relations and marketing perceived and practiced public relations in the digital era. Specifically, the conception of market-oriented relations in regard to the use of digital media was discussed in the proposed structural model.

Purpose – The purpose of this paper is to propose a model of financial communication to investigate the process of communicating risk signals between listed companies and their individual retail investors in initial public offerings (IPOs). Design/methodology/approach – A survey study on individual IPO investors (n=212) in the Hong Kong Stock Exchange was conducted to examine how risk estimates of individual retail investors were affected by three factors of financial communication, namely organizational trust, organizational reputation and investors’ trust in the media specialists. Structural equation modeling analysis was conducted. Findings – Respondents’ perceived risks of below-target returns and perceived risks of losses of principals were significantly affected by their perceived market risks. Respondents relied significantly on organizational trust to estimate their amounts of target returns and mitigate their perceived risks of losses of principals. Organizational reputation, which could be possibly reinforced by respondents’ trust in the media specialists, could enhance organizational trust. Practical implications – Corporate communications practitioners should pay attention to the effect of perceived market risk on risk estimate. As organizational trust is a significant precondition of risk taking in IPOs, practitioners should rethink the effectiveness of financial communication in which organizational trust, organizational reputation and investors’ trust in the media specialists are interrelated. Originality/value – There is a lack of research in financial communication from the organization-stakeholders perspective. This paper conceptualizes financial communication and provides insights to both scholars and practitioners in corporate communications on how significant factors of financial communication affect risk estimate in the financial market.