Corporate Reputation and Social Performance: The Importance of Fit

Corporate Reputation and Social Performance: The Importance of Fit abstract Utilizing data on a sample of large firms, we estimate a model of corporate reputation. We find reputation, derived from the assessments of managers and market analysts, to be determined by a firm's social performance, financial performance, market risk, the extent of long‐term institutional ownership, and the nature of its business activities. Furthermore, the reputational effect of social performance is found to vary both across sectors, and within sectors across the various types of social performance. Specifically, our results demonstrate the need to achieve a ‘fit’ among the types of corporate social performance undertaken and the firm's stakeholder environment. For example, a strong record of environmental performance may enhance or damage reputation depending on whether the firm's activities ‘fit’ with environmental concerns in the eyes of stakeholders. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Management Studies Wiley

Corporate Reputation and Social Performance: The Importance of Fit

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Publisher
Wiley
Copyright
Copyright © 2006 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0022-2380
eISSN
1467-6486
DOI
10.1111/j.1467-6486.2006.00597.x
Publisher site
See Article on Publisher Site

Abstract

abstract Utilizing data on a sample of large firms, we estimate a model of corporate reputation. We find reputation, derived from the assessments of managers and market analysts, to be determined by a firm's social performance, financial performance, market risk, the extent of long‐term institutional ownership, and the nature of its business activities. Furthermore, the reputational effect of social performance is found to vary both across sectors, and within sectors across the various types of social performance. Specifically, our results demonstrate the need to achieve a ‘fit’ among the types of corporate social performance undertaken and the firm's stakeholder environment. For example, a strong record of environmental performance may enhance or damage reputation depending on whether the firm's activities ‘fit’ with environmental concerns in the eyes of stakeholders.

Journal

Journal of Management StudiesWiley

Published: May 1, 2006

References

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