Transparency in communication between listed companies and investors is not merely a compliance obligation; it is a strategic asset. This belief has been at the core of the VEKTOR by ARIR indicator since its launch and continues to guide its evolution.
ARIR is launching a market consultation open to all stakeholders: issuers on the Main Market, AeRO market and bond market, investors, and financial analysts. By completing an online questionnaire, you are invited to contribute to defining the methodological directions of VEKTOR by ARIR for the January 2027 edition.
How can you contribute?
The VEKTOR 2.0 consultation questionnaire is addressed to all capital market participants: issuers, investors, and financial analysts. Responses are anonymous, completion time is no more than 8 minutes, and the results will directly support the future development of the indicator.
Complete the questionnaire here: https://tally.so/r/44NG1b, deadline: Friday, June 12, 2026.
The questionnaire may also be shared with your partners; the more diverse the perspectives collected, the more relevant the conclusions will be for the entire market.
Why does VEKTOR by ARIR matter, and why now?
You may have noticed that an increasing number of companies listed on the Bucharest Stock Exchange organize quarterly results conferences, publish transcripts, provide structured historical financial data, and communicate with investors through multiple channels. Many of these practices have been actively promoted by the VEKTOR by ARIR indicator, which, over the years, has contributed to raising the standard of communication in the Romanian capital market.
The figures confirm this progress:
• 25 issuers achieved the maximum score in the 2025 VEKTOR assessment, compared to only 3 companies in 2019.
• The average VEKTOR score for all Main Market companies increased to 4.35 (from 4.1 in 2024), while Premium category companies recorded an average score of 7.6.
• Companies included in the BET index achieved an average score of 9.68 (compared to 9.5 in 2024).
• Research shows that transparency translates directly into financial value: each additional point gained in the VEKTOR score was associated with a cumulative abnormal return of up to 0.13% (study conducted by Ioan Șumandea, ARIR Vice President).
VEKTOR by ARIR has set the standard. Now it is time to take it further, and we need your perspective to do it right.
What is new in the VEKTOR ecosystem?
In addition to the market consultation, ARIR has launched a dedicated digital platform on its website, available here, where issuers that have excelled in the VEKTOR assessment benefit from a complete, indexable, and investor-visible performance profile. It is a new space dedicated to showcasing excellence in investor relations, one that we aim to build together with the ARIR community and the broader capital market ecosystem.
Thank you for your active involvement.