Abstract
Our study theoretically and empirically examines performance antecedents and consequences of the Fortune annual Survey of Corporate Reputation. Accounting-and market-based measures of performance are used to predict the ratings, and investor reactions to the publication of the ratings are predicted to be associated with the extent to which the ratings diverge from antecedent predictions. Lower-than-predicted ratings should generate a negative response while higher-than-predicted ratings should generate a positive response. Contrary to expectations, we found a negative relationship. In addition, this negative relationship was only for the lower-than-predicted ratings. For higher-than-predicted ratings the relationship with investor reaction was insignificant.
Original language | English (US) |
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Pages (from-to) | 187-195 |
Number of pages | 9 |
Journal | Canadian Journal of Administrative Sciences |
Volume | 20 |
Issue number | 3 |
DOIs | |
State | Published - Sep 2003 |
Externally published | Yes |
ASJC Scopus subject areas
- Business and International Management
- Public Administration
- Marketing
- Management of Technology and Innovation