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Does Brand Value Always Increase Firm Value? An Empirical Study from China

In: Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)

Author

Listed:
  • Xiaolin Li

    (Guangdong University of Finance & Economics)

  • Yuhan Gao

    (Guangdong University of Finance & Economics)

  • Yixuan Wu

    (Guangdong University of Finance & Economics)

  • Ziyu Deng

    (Guangdong University of Finance & Economics)

  • Yutong Wang

    (Guangdong University of Finance & Economics)

Abstract

The previous studies confirmed that brand value can increase firm value. However, most of the literature on this topic studied the firms of developed markets, which have different institutional and cultural environment from developing markets. This paper studied the effects of brand value by using China’s listed companies as the sample. We found that for China’s firms, firm size is an important moderating variable constraining brand value’s effect. That is, brand value increases firm value only for large firms, and there are no significant effects for small firms. We used five indicators to measure firm size and obtained consistent results. The results have important implications for firms managing brands in the developing countries.

Suggested Citation

  • Xiaolin Li & Yuhan Gao & Yixuan Wu & Ziyu Deng & Yutong Wang, 2024. "Does Brand Value Always Increase Firm Value? An Empirical Study from China," Advances in Economics, Business and Management Research, in: Luiz Moutinho & Carlos Flavian & Rita Yi Man Li & Qiwei Zhou (ed.), Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023), pages 567-574, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-260-6_71
    DOI: 10.2991/978-94-6463-260-6_71
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