Impact of brand equity on firm value: role of analysts

Impact du capital marque sur la performance boursière de l'entreprise: étude du rôle médiateur des analystes

Melissa Boeuf () and Philippe Aurier ()
Additional contact information
Melissa Boeuf: UM - Université de Montpellier, MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier
Philippe Aurier: UM - Université de Montpellier, MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier

Post-Print from HAL

Abstract: This research explores the links between brand equity and firm value. This intangible asset is one of the most important assets a firm can own and several previous studies have shown that brand value has a direct positive impact on firm value. However, little is known about the intermediate variables entering in the brand value–firm value relationship. Our research addresses this gap in the literature by proposing financial analysts as mediators linking brand value and financial performance. Based on a longitudinal study over seventeen years, we find that brand value variations reduce firm idiosyncratic risk and this impact is fully mediated by analysts' recommendations.

Keywords: brand equity; financial analysts; firm value; idiosyncratic risk (search for similar items in EconPapers)
Date: 2018-05-16
References: Add references at CitEc
Citations:

Published in 34ème Congrès International de l'Association Française du Marketing, May 2018, Strasbourg, France

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03126597

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().