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2011-10-19Diskussionspapier DOI: 10.18452/4353
Linking corporate reputation and shareholder value using the publication of reputation rankings
dc.contributor.authorTischer, Sven
dc.contributor.authorHildebrandt, Lutz
dc.date.accessioned2017-06-16T00:29:01Z
dc.date.available2017-06-16T00:29:01Z
dc.date.created2011-11-04
dc.date.issued2011-10-19
dc.date.submitted2011-10-19
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/5005
dc.description.abstractGood corporate reputation is seen as one of the most valuable assets. It is believed to cause a multitude of favorable impacts within different stakeholder groups. As a consequence, a multitude of studies analyzed the relationship between corporate reputation and financial performance. However, the most of them raised the question of causation due to their methodology. In order to isolate the impact of corporate reputation on financial performance, some authors had conducted event studies, but without any success. Therefore, this study provides a comprehensive theoretical background, why reputation has to affect financial performance. According to this theory, two event studies are conducted to analyze the impact of publishing reputation rankings of the German Manager Magazine from 1998 to 2008 on share prices. As expected, we find positive or negative announcement effects regarding upgraded or respectively downgraded companies. Consequently, investors gain new information from the published rankings (increase or decrease in reputation) to adjust share prices.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectCorporate reputationeng
dc.subjectreputation ranking financial performanceeng
dc.subjectshareholder valueeng
dc.subjectevent studyeng
dc.subjectportfolio studyeng
dc.subject.ddc330 Wirtschaft
dc.titleLinking corporate reputation and shareholder value using the publication of reputation rankings
dc.typeworkingPaper
dc.identifier.urnurn:nbn:de:kobv:11-100196189
dc.identifier.doihttp://dx.doi.org/10.18452/4353
local.edoc.pages39
local.edoc.type-nameDiskussionspapier
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-year5011
dc.identifier.zdb2195055-6
bua.series.nameSonderforschungsbereich 649: Ökonomisches Risiko
bua.series.issuenumber2011,65

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