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dc.contributor.authorTischer, Svenen
dc.contributor.authorHildebrandt, Lutzen
dc.date.accessioned2011-11-02-
dc.date.accessioned2012-04-05T16:15:30Z-
dc.date.available2012-04-05T16:15:30Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2011-065en
dc.subject.jelM14en
dc.subject.jelM31en
dc.subject.jelG14en
dc.subject.jelG11en
dc.subject.jelC12en
dc.subject.jelC13en
dc.subject.ddc330en
dc.subject.keywordcorporate reputationen
dc.subject.keywordreputation rankingen
dc.subject.keywordfinancial performanceen
dc.subject.keywordshareholder valueen
dc.subject.keywordevent studyen
dc.subject.keywordportfolio studyen
dc.subject.stwFirmenimageen
dc.subject.stwBewertungen
dc.subject.stwShareholder Valueen
dc.subject.stwBörsenkursen
dc.subject.stwTheorieen
dc.subject.stwEvent Studyen
dc.subject.stwDeutschlanden
dc.titleLinking corporate reputation and shareholder value using the publication of reputation rankings-
dc.typeWorking Paperen
dc.identifier.ppn671180207en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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