Does Brand Value Always Increase Firm Value? An Empirical Study from China

Xiaolin Li, Yuhan Gao, Yixuan Wu, Ziyu Deng and Yutong Wang ()
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Xiaolin Li: Guangdong University of Finance & Economics
Yuhan Gao: Guangdong University of Finance & Economics
Yixuan Wu: Guangdong University of Finance & Economics
Ziyu Deng: Guangdong University of Finance & Economics
Yutong Wang: Guangdong University of Finance & Economics

A chapter in Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023), 2024, pp 567-574 from Springer

Abstract: Abstract The previous studies confirmed that brand value can increase firm value. However, most of the literature on this topic studied the firms of developed markets, which have different institutional and cultural environment from developing markets. This paper studied the effects of brand value by using China’s listed companies as the sample. We found that for China’s firms, firm size is an important moderating variable constraining brand value’s effect. That is, brand value increases firm value only for large firms, and there are no significant effects for small firms. We used five indicators to measure firm size and obtained consistent results. The results have important implications for firms managing brands in the developing countries.

Keywords: Brand Value; Firm Value; Firm Size; Developing Markets (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-260-6_71

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