Examination of Corporate Reputation Scores, Market Value and Financial Performance with the Perspective of Corporate Brand Sustainability

Year 2023, , 47 - 62, 30.12.2023

Yusuf Ozan Yıldırım , Aypar Uslu

https://doi.org/10.33399/biibfad.1324268

Abstract

In theory and practice, sustainability research offer important doctrines for carrying corporate brands into the future. As for maintaining the sustainability of corporate brands, researchers imply the necessity of various changing parameters, including corporate reputation. In addition, researchers highlight for long-term corporate reputation firms should also focus their market performance and financial performance. With this perspective, the aim of this paper is to examine the relationship amongst long term sustained corporate reputation, market value and financial performance. In parallel to prior research, reputation is conceptualized by pulse scores from reputation institutes’ reports. For the perspective of sustainability, data is put through some filters such as “most repeated corporate brands over 15 years”. After sampling, market values and financial performance indicators taken from online credible sources. As a result, 6 corporate brands and 15 years long data a panel has constructed. Finally, the relationship amongst corporate reputation, market value and financial performance is assessed with panel data. According to panel data correlation results, corporate reputation is only significantly correlated with ROE and ROI. Relationship between market value and financial performance indicators is significantly correlated.

Keywords

Corporate Brand Sustainability, Corporate Reputation, Market Value, Financial Performance

Kurumsal Marka Sürdürülebilirliği Perspektifinden Kurumsal İtibar Skoru, Piyasa Değeri ve Finansal Performansın İncelenmesi

Abstract

Teori ve pratikte sürdürülebilirlik araştırmaları, kurumsal markaları geleceğe taşımak için önemli öğretiler sunmaktadır. Araştırmacılar, kurumsal markaların sürdürülebilirliğini sağlamak için kurumsal itibar da dahil olmak üzere çeşitli parametrelerin değiştirilmesi gerektiğini belirtmektedir. Ayrıca araştırmacılar, uzun vadeli kurumsal itibar için firmaların pazar performanslarına ve finansal performanslarına da odaklanmaları gerektiğini vurgulamaktadır. Bu bakış açısıyla gerçekleştirilen çalışmanın amacı, uzun vadeli sürdürülebilir kurumsal itibar, piyasa değeri ve finansal performans arasındaki ilişkiyi incelemektir. Önceki araştırmalara paralel olarak çalışmada itibar skoru, “reputation institute” raporlarındaki “pulse score” değerlerinden elde edilmiştir. Sürdürülebilirlik perspektifi için veriler “15 yılda en çok tekrarlanan kurumsal markalar” gibi çeşitli filtrelerden geçmiş olup elde edilen örneklem için çevrim içi güvenilir kaynaklardan çalışmanın diğer değişkenleri olan piyasa değerleri ve finansal performans değerleri elde edilmiştir. Sonuç olarak 6 kurumsal marka ve 15 yıllık panel veri ile analizler gerçekleştirilmiştir. Kurumsal itibar, piyasa değeri ve finansal performans arasındaki ilişkinin analiz bulgularına göre; kurumsal itibar sadece ROE ve ROI ile anlamlı bir şekilde ilişkili olduğu bulgusuna ulaşılmıştır. Ek olarak araştırma bulgularına göre piyasa değeri ile finansal performans göstergeleri arasındaki anlamlı bir ilişki tespit edilmiştir.

Keywords

Kurumsal Marka Sürdürülebilirliği, Kurumsal İtibar, Piyasa Değeri, Finansal Performans

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