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dc.contributor.authorTischer, Svenen_US
dc.contributor.authorHildebrandt, Lutzen_US
dc.date.accessioned2011-11-02en_US
dc.date.accessioned2012-04-05T16:15:30Z-
dc.date.available2012-04-05T16:15:30Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/56660-
dc.description.abstractGood corporate reputation is seen as one of the most valuable assets. It is believed to cause a multitude of favorable impacts within different stakeholder groups. As a consequence, a multitude of studies analyzed the relationship between corporate reputation and financial performance. However, the most of them raised the question of causation due to their methodology. In order to isolate the impact of corporate reputation on financial performance, some authors had conducted event studies, but without any success. Therefore, this study provides a comprehensive theoretical background, why reputation has to affect financial performance. According to this theory, two event studies are conducted to analyze the impact of publishing reputation rankings of the German Manager Magazine from 1998 to 2008 on share prices. As expected, we find positive or negative announcement effects regarding upgraded or respectively downgraded companies. Consequently, investors gain new information from the published rankings (increase or decrease in reputation) to adjust share prices.en_US
dc.language.isoengen_US
dc.publisherSFB 649, Economic Risk Berlinen_US
dc.relation.ispartofseriesSFB 649 discussion paper 2011-065en_US
dc.subject.jelM14en_US
dc.subject.jelM31en_US
dc.subject.jelG14en_US
dc.subject.jelG11en_US
dc.subject.jelC12en_US
dc.subject.jelC13en_US
dc.subject.ddc330en_US
dc.subject.keywordcorporate reputationen_US
dc.subject.keywordreputation rankingen_US
dc.subject.keywordfinancial performanceen_US
dc.subject.keywordshareholder valueen_US
dc.subject.keywordevent studyen_US
dc.subject.keywordportfolio studyen_US
dc.subject.stwFirmenimageen_US
dc.subject.stwBewertungen_US
dc.subject.stwShareholder Valueen_US
dc.subject.stwBörsenkursen_US
dc.subject.stwTheorieen_US
dc.subject.stwEvent Studyen_US
dc.subject.stwDeutschlanden_US
dc.titleLinking corporate reputation and shareholder value using the publication of reputation rankingsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn671180207en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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