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Impact of brand equity on firm value: role of analysts
[Impact du capital marque sur la performance boursière de l'entreprise : étude du rôle médiateur des analystes]

Author

Listed:
  • Melissa Boeuf

    (UM - Université de Montpellier, MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier)

  • Philippe Aurier

    (UM - Université de Montpellier, MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier)

Abstract

This research explores the links between brand equity and firm value. This intangible asset is one of the most important assets a firm can own and several previous studies have shown that brand value has a direct positive impact on firm value. However, little is known about the intermediate variables entering in the brand value–firm value relationship. Our research addresses this gap in the literature by proposing financial analysts as mediators linking brand value and financial performance. Based on a longitudinal study over seventeen years, we find that brand value variations reduce firm idiosyncratic risk and this impact is fully mediated by analysts' recommendations.

Suggested Citation

  • Melissa Boeuf & Philippe Aurier, 2018. "Impact of brand equity on firm value: role of analysts [Impact du capital marque sur la performance boursière de l'entreprise : étude du rôle médiateur des analystes]," Post-Print hal-03126597, HAL.
    • Handle: RePEc:hal:journl:hal-03126597
    as

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