Studia i Prace WNEiZ US

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Studia i Prace WNEiZ

ISSN: 2450-7733     eISSN: 2300-4096    OAI    DOI: 10.18276/sip.2017.50/2-02
CC BY-SA   Open Access 

Issue archive / nr 50/2 2017
Pomiar postrzeganej przez inwestorów reputacji przedsiębiorstwa
(Measurement of corporate reputation as perceived by investors)

Authors: Anna Blajer-Gołębiewska
Uniwersytet Gdański
Keywords: corporate reputation investment decisions
Data publikacji całości:2017
Page range:14 (21-34)
Klasyfikacja JEL: G02 G11 M14
Cited-by (Crossref) ?:

Abstract

The article tackles the subject of corporate reputation as a variable affecting investor’s decision-making process. The aim of this article is to determine possibilities to measure corporate reputation as defi ned above. On the basis of literature analyses, current methods of measurement were identifi ed. Then we analysed possibilities of their applications and their suitability to determine the level of corporate reputation hold by investors. The study shows that investors do not always behave according to the theories of fi nance and theories based on psychology. Therefore, in the context of research into the factors shaping actual decisions of investors, issues of practical measurement of corporate reputation may be particularly important.
Download file

Article file

Bibliography

1.Ader, C.R. (1995). A Longitudinal Study of Agenda Setting for the Issue of Environmental Pollution. Journalism and Mass Communication Quarterly, 72, 300–311.
2.Barnett, M.L., Jermier, J.M., Lafferty, B.A. (2006). Corporate Reputation: The Defi nitional Landscape. Corporate Reputation Review, 9 (1), 26–38. DOI: 10.1057/palgrave.crr.1550012.
3.Blajer-Gołębiewska, A., Kos, M. (2016). Investors are More Sensitive to Information About Financial Rather than Ethical Reputation of a Company: Evidence from an Experimental Study. Economics and Sociology, 9 (1), 11–31. DOI: 10.14254/2071-789X.2016/9-1/1.
4.Blajer-Gołębiewska, A. (2014). Do Stock Exchange Indices Based on Reputational Factors Matter? International Journal of Academic Research. Part B, 6 (4), 231–237.
5.Brammer, S., Brooks, C., Pavelin, S. (2006). Corporate Reputation and Stock Returns: Are Good Firms Good for Investors? ICMA Center Discussion Papers in Finance, 05, 1–28. DOI: 10.2139/ssrn.637122.
6.Bromley, D.B. (2000). Psychological Aspects of Corporate Identity, Image and Reputation. Corporate Reputation Review, 3 (3), 240–252. DOI: 10.1057/palgrave.crr.1540117.
7.Brown, B. (1997). Stock Market Valuation of Reputation for Corporate Social Performance. Corporate Reputation Review, 1 (1/2), 76–80.
8.Caruana, A., Chircop, S. (2000). Measuring Corporate Reputation: A Case Example. Corporate Reputation Review, 3 (1), 43–57. DOI: 10.1057/palgrave.crr.1540098.
9.Cole, S. (2012). The Impact of Reputation on Market Value. World Economics, 13 (3), 47–68.
10.Dąbrowski, T.J. (2010). Reputacja przedsiębiorstwa. Tworzenie kapitału przedsiębiorstwa. Kraków: Ofi cyna Wolters Kluwer Business.
11.Deephouse, D.L., Carter, S.M. (2005). An Examination of Differences between Organizational Legitimacy and Organizational Reputation. Journal of Management Studies, 42, 329–360. DOI: 10.1111/j.1467-6486.2005.00499.x.
12.Fang, L.H. (2005). Investment Bank Reputation and the Price and Quality of Underwriting Services. Journal of Finance, 60, 2729–2761. DOI: 10.1111/j.1540-6261.2005.00815.x.
13.Fernández-Gámez, M.A., Gil-Corral, A.M., Galán-Valdivieso, F. (2016). Corporate Reputation and Market Value: Evidence with Generalized Regression Neural Networks. Expert
14.Systems With Applications, 46, 69–76. DOI: 10.1016/j.eswa.2015.10.028.
15.Fombrun, C.J., van Riel, C.B.M. (1997). The Reputational Landscape. Corporate Reputation Review, 1 (1/2), 5–13. DOI: 10.1057/palgrave.crr.1540024.
16.Fombrun, C.J., Gardberg, N.A., Sever, J.M. (2000). The Reputation Quotient: A Multistakeholder Measure of Corporate Reputation. Journal of Brand Management, 7 (4), 241–255.
17.Fombrun, C.J. (2007). List of Lists: A Compilation of International Corporate Reputation Ratings. Corporate Reputation Review, 10 (2), 144–153. DOI:10.1057/palgrave.crr.1550047.
18.Forum Odpowiedzialengo Biznesu (2017). Pobrane z: http://odpowiedzialnybiznes.pl/ranking-odpowiedzialnych-fi rm/ (15.01.2017).
19.Fortune. Strony internetowe czasopisma: http://fortune.com/worlds-most-admired-companies/2016/.
20.Gardberg, N. (2006). Reputation, Reputazione, Reputatie, Ruf: A Cross-cultural Qualitative Analysis of Construct and Scale Equivalence. Corporate Reputation Review, 9 (2), 1–23.
21.Hall, R. (1992). The Strategic Analysis of Intangible Resources. Strategic Management Journal, 13, 135–144. DOI: 10.1002/smj.4250130205.
22.Hannington, T. (2016). How to Measure and Manage Your Corporate Reputation. London: Routledge.
23.Helm, S. (2007). The Role of Corporate Reputation in Determining Investor Satisfaction and Loyalty. Corporate Reputation Review, 10 (1), 22–37. DOI: 10.1057/palgrave.crr.1550036.
24.Jaki, A. (2008). Wycena i kształtowanie wartości przedsiębiorstwa. Kraków: Ofi cyna Wolters Kluwer.
25.Janis, I.L., Fadner, R.H (1943). A Coeffi cient of Imbalance for Content Analysis. Psychometrika, 8 (2), 105–119. DOI: 10.1007/BF02288695.
26.Janis, I.L., Fadner, R.H. (1965). The Coeffi cient of Imbalance. W: H.D. Lasswell, N. Leites and associates (red.), Language of Politics: Studies in Quantitative Semantics (s. 153–
27.169). Cambridge, MA: MIT Press.
28.Kanto, D.S., de Run, E.C., bin Md Isa, A.H. (2016). The Reputation Quotient as a Corporate Reputation Measurement in the Malaysian Banking Industry: A Confi rmatory Factor Analysis. Procedia-Social and Behavioral Sciences, 219, 409–415. DOI: 10.1016/j.sbspro.2016.05.062.
29.Management Today. Pobrane z: http://www.managementtoday.co.uk/bmac-2016/12-measures (15.01.2017).
30.Nawrocki, T.L., Szwajca D. (2017). The Concept of Corporate Reputation Assessment Model – The Stock Market Investors Perspective. W: A. Kavoura, D.P. Sakas, P. Tomaras
31.(red.), Strategic Innovative Marketing, Part of the series Springer Proceedings in Business and Economics (s. 165–171). Mykonos: Springer.
32.Nofsinger, J.R. (2016). Psychology of Investing. Wyd. 5. New York: Routledge.
33.Pęksyk, M. (2014). W poszukiwaniu wartości reputacji. Zeszyty Naukowe Uniwersytetu Szczecińskiego, 804. Finanse, Rynki Finansowe, Ubezpieczenia, 67, 517–528.
34.Pharoah, A. (2003). Corporate Reputation: The Boardroom, Challenge. Corporate Governance: The International Journal of Business in Society, 3 (4), 46–51, DOI: 10.1108/14720700310497113.
35.Reputation Dividend. Pobrane z: http://www.reputationdividend.com/ (15.01.2017).
36.Roa, H. (1994). The Social Construction of Reputation: Certifi cation Contests, Legitimation, and the Survival of Organizations in the American Automobile Industry: 1895–1912. Strategic Management Journal, 15 (S1), 29–44. DOI: 10.1002/smj.4250150904.
37.Rose, C., Thomsen, S. (2004). The Impact of Corporate Reputation on Performance. European Management Journal, 22 (2), 201–210. DOI:10.1016/j.emj.2004.01.012.
38.Rossiter, J.R. (2002). The C-OAR-SE Procedure for Scale Development in Marketing. International Journal of Research in Marketing, 19, 305–335. DOI: 10.1016/S0167-8116(02)00097-6.
39.Saha, A. (2005). Reputation Index: Societal Barometer and Financial Instrument. Covalence Analyst Papers. Pobrane z: http://www.ethicalquote.com/docs/CorrelationsSeries_4.pdf (15.01.2017).
40.Schwaiger, M. (2004). Components and Parameters of Corporate Reputation – an Empirical Study. Schmalenbach Business Review, 56, 46–71.
41.Smith, K.T., Smith, M., Wang, K. (2010). Does Corporate Reputation Translate into Higher Market Value? Journal of Strategic Management, 18 (3), 201–221.
42.The 2016 UK Reputation Dividend Report (2016). Reputation Dividend. Pobrane z: http://www.reputationdividend.com/fi les/7814/5441/0391/UK_2016_Reputation_Dividend_report.pdf (15.01.2017).
43.Vergin, R.C., Qoronfl eh, M.W. (1998). Corporate Reputation and the Stock Market. Business Horizons, 4 (1), 19–26. DOI: 10.1016/S0007-6813(98)90060-X.
44.Walker, K. (2010). A Systematic Review of the Corporate Reputation Literature: Definition, Measurement, and Theory. Corporate Reputation Review, 12 (4), 357–387. DOI: 10.1057/crr.2009.26.
45.Wartick, S.L. (1992). The Relationship between Intense Media Exposure and Change in Corporate Reputation. Business and Society Spring, 31, 33–49. DOI:10.1177/000765039203100104.