Survey suggest new media not on investors' radar.

Social media plays a very limited role in the decisions and recommendations of institutional investors and analysts, according to a new online survey from Brunswick Group.

The firm polled nearly 500 institutional investors and sell-side analysts in the Europe and the US, and found that only 4% ranked ‘new media’ as the top influencer when making investment decisions or recommendations.

However, 58% believe new media will become more important in helping them make investment decisions.

New media ranked well below information direct from companies,’ which was chosen as the most influential source of information when making investment decisions or recommendations, at 55%. That was followed by primary market research (24%), real-time subscription services (22%), analyst research (10%) and online business media (5%). Print media ranked lowest (3%).

“The power and influence of new media has yet to have a profound impact on the investment community,” said Amanda Duckworth, a partner at Brunswick. “Companies should be encouraged that the majority of investors and analysts look to them for the information that has the greatest influence on their investment decisions and recommendations.”

Three quarters of respondents believed that the information found on social networking sites was not reliable.