Measuring intangible asset: firm reputation
Abstract
The purpose of this research is to find out the measurement of firm reputation that are still relevant to represent firm reputation. The measurement that are being tested in this research are CSR Award, Firm Age, Listing Age, Market Capitalization, Buy and Hold Abnormal Return and Price Earnings Ratio as the measurement for firm reputation. The novelty of this research is able to prove LQ45 are able to become a measurement to represent firm reputation. The data sample of this research are companies that listed in Indonesia stock exchange between 2016 till 2020. To select the research sample,this research conducted purposive sampling. This research data analysis is using SPSS program to conduct descriptive statistical test and spearman correlation test to measure the correlation between each variable. The results of this study show that measurement like listing age and BHAR are no longer a relevant measurement to measure firm reputation but CSR Award, Firm Age, Market Capitalization and Price earning Ratio are still a relevant measurement to measure firm reputation.This research also found that LQ45 can be used as the novel measurement for firm reputation. This research results will be helpful for researcher in firm reputation area.
Keyword : buy and hold abnormal return, CSR Award, firm age, firm reputation, listing age, LQ45, market capitalization, price earnings ratio
How to Cite
Edi, E., & Wati, E. (2022). Measuring intangible asset: firm reputation. Business: Theory and Practice, 23(2), 396–407. https://doi.org/10.3846/btp.2022.15945
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Edi, E., Basri, Y. Z., & Arafah, W. (2020a). The effect of acquisition synergy on firm perfomance moderated by firm reputation. Journal of Accounting Finance and Auditing Studies (JAFAS), 6(1), 16–32. https://doi.org/10.32602/jafas.2020.002
Edi, E., Basri, Y. Z., & Arafah, W. (2020b). CEO characteristics, firm reputation and firm performance after merger and acquisition. Business: Theory and Practice, 21(2), 850–858. https://doi.org/10.3846/btp.2020.12782
Edi, E., & Susanti, E. (2021). The role of firm reputation and management experience for firm performance after merger and acquisition. Jurnal Reviu Akuntansi Dan Keuangan, 11(1), 150–167. https://doi.org/10.22219/jrak.v11i1.14067
Erden, Z., Klang, D., Sydler, R., & von Krogh, G. (2015). “How can we signal the value of our knowledge?” Knowledge-based reputation and its impact on firm performance in science-based industries. Long Range Planning, 48(4), 252–264. https://doi.org/10.1016/j.lrp.2014.07.003
Fan, D., Xiao, C., Zhang, X., & Guo, Y. (2021). Gaining customer satisfaction through sustainable supplier development: The role of firm reputation and marketing communication. Transportation Research Part E: Logistics and Transportation Review, 154(August), 102453. https://doi.org/10.1016/j.tre.2021.102453
Flanagan, D. J., O’Shaughnessy, K. C., & Palmer, T. B. (2011). Re-assessing the relationship between the fortune reputation data and financial performance: Overwhelming influence or just a part of the puzzle? Corporate Reputation Review, 14(1), 3–14. https://doi.org/10.1057/crr.2011.4
Flatt, S. J., & Kowalczyk, S. J. (2006). Corporate reputation as a mediating variable between corporate culture and financial performance. In 2006 Reputation Institute Conference (Issue November). Researchgate.
Fombrun, C. J., & van Riel, C. B. M. (1997). The reputational landscape. Corporate Reputation Review, 1(1), 5–13. https://doi.org/10.1057/palgrave.crr.1540008
Fombrun, C., & Shanley, M. (1990). What’s in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233–258. https://doi.org/10.5465/256324
Fong, C.-M., Lee, C.-L., & Du, Y. (2013). Target reputation transferability, consumer animosity, and cross-border acquisition success: A comparison between China and Taiwan. International Business Review, 22(1), 174–186. https://doi.org/10.1016/j.ibusrev.2012.03.004
Foroudi, P., Melewar, T. C., & Gupta, S. (2014). Linking corporate logo, corporate image, and reputation: An examination of consumer perceptions in the financial setting. Journal of Business Research, 67(11), 2269–2281. https://doi.org/10.1016/j.jbusres.2014.06.015
Gao, C., Zuzul, T., Jones, G., & Khanna, T. (2017). Overcoming institutional voids: A reputation-based view of long-run survival. Strategic Management Journal, 38(11), 2147–2167. https://doi.org/10.1002/smj.2649
García-Meca, E., & Palacio, C. J. (2018). Board composition and firm reputation: The role of business experts, support specialists and community influentials. BRQ Business Research Quarterly, 21(2), 111–123. https://doi.org/10.1016/j.brq.2018.01.003
Gatzert, N. (2015). The impact of corporate reputation and reputation damaging events on financial performance: Empirical evidence from the literature. European Management Journal, 33(6), 485–499. https://doi.org/10.1016/j.emj.2015.10.001
Gomez-Trujillo, A. M., Velez-Ocampo, J., & Gonzalez-Perez, M. A. (2020). A literature review on the causality between sustainability and corporate reputation: What goes first? Management of Environmental Quality: An International Journal, 31(2), 406–430. https://doi.org/10.1108/MEQ-09-2019-0207
González-Rodríguez, M. R., Martín-Samper, R. C., Köseoglu, M. A., & Okumus, F. (2019). Hotels’ corporate social responsibility practices, organizational culture, firm reputation, and performance. Journal of Sustainable Tourism, 27(3), 398–419. https://doi.org/10.1080/09669582.2019.1585441
Grunig, S. D. (1997). Research, reputation, and resources. The Journal of Higher Education, 68(1), 17–52. https://doi.org/10.1080/00221546.1997.11778976
Gwebu, K. L., Wang, J., & Wang, L. (2018). The role of corporate reputation and crisis response strategies in data breach management. Journal of Management Information Systems, 35(2), 683–714. https://doi.org/10.1080/07421222.2018.1451962
Haleblian, J., Devers, C. E., McNamara, G., Carpenter, M. A., & Davison, R. B. (2009). Taking stock of what we know about mergers and acquisitions: A review and research agenda. Journal of Management, 35(3), 469–502. https://doi.org/10.1177/0149206308330554
Haleblian, J. J., Pfarrer, M. D., & Kiley, J. T. (2017). High-reputation firms and their differential acquisition behaviors. Strategic Management Journal, 38(11), 2237–2254. https://doi.org/10.1002/smj.2645
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