Exploring the Value Relevance of Corporate Reputation

• Main Author: 洪湘鈺
• Other Authors: 王漢民
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/11886800052600888308

碩士 === 逢甲大學 === 會計學系 === 102 === The knowledge economy is seen as the latest stage of development in global economic restructuring and has amplified the importance of intangible assets. Under information asymmetry, corporate reputation, as one of major intangible assets, plays an important role as signaling firm value regarding future earnings. Through this signaling, people will learn company’s operating activities and be willing to consume their products and services. And, firms with good reputations are able to capture more investments, get better loaning conditions and attract potentials. Previous studies had examined the relationship between corporate reputation and operation performance. Never were conducted to explore the value relevance of corporate reputation. The purpose of this study is to explore the relationship between corporate reputation and corporate value. Our empirical results show that corporate reputation and corporate value are positively correlated. The findings would help companies in building up their reputation management strategies and serve as a base for future academic studies.