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Contemporaneous relationship between corporate reputation and return

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  • Thomas M. Krueger
  • Mark A. Wrolstad
  • Shane Van Dalsem
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    Abstract

    Purpose – The purpose of this paper is to examine the contemporaneous relationship between changes in corporate reputations and stock prices. Design/methodology/approach – The Harris Interactive Reputation QuotientTM is used as a measure of corporate reputation. Stock return and risk measures are evaluated for each Reputation QuotientTM survey period for the years 1999-2007. Findings – The results provide evidence that, in the aggregate, firm reputations are procyclical. Additionally, firms with improved reputations enjoy lower volatility in their stock prices than firms with diminished reputations. Research limitations/implications – Due to the Harris Poll Online methodology, it is not clear that the price changes occur concurrently with the change in reputation. Originality/value – This paper contributes to the finance literature by examining the effect of a change in corporate reputation on stock price.

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    File URL: http://www.emeraldinsight.com/journals.htm?issn=0307-4358&volume=36&issue=6&articleid=1863331&show=abstract
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    Bibliographic Info

    Article provided by Emerald Group Publishing in its journal Managerial Finance.

    Volume (Year): 36 (2010)
    Issue (Month): 6 (June)
    Pages: 482-490

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    Handle: RePEc:eme:mfipps:v:36:y:2010:i:6:p:482-490

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    Related research

    Keywords: Corporate image; Stock prices;

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