Contemporaneous relationship between corporate reputation and return
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 Quotient 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.
Volume (Year): 36 (2010)
Issue (Month): 6 (May)
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