Reputation and value creation: A circular relation. Application to the Spanish banking sector

Juan Manuel de la Fuente Sabat‚ () and Esther de Quevedo Puente ()
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Juan Manuel de la Fuente Sabat‚: Departamento de Econom¡a y Administraci¢n de Empresas, Facultad de Ciencias Econ¢micas y Empresariales, Universidad de Burgos
Esther de Quevedo Puente: Departamento de Econom¡a y Administraci¢n de Empresas, Facultad de Ciencias Econ¢micas y Empresariales, Universidad de Burgos

No 2002-01, Working Papers "New Trends on Business Administration". Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". from Interuniversity Research Master and Doctorate Program (with a quality mention of ANECA) on "Business Economics", Universities of Valladolid, Burgos, Salamanca and León (Spain). Until 2008, Interuniversity Doctorate Program (with a quality mention of ANECA) “New trends in Business Administration”, Universities of Valladolid, Burgos, and Salamanca (Spain). Master en Investigación y Programa de Doctorado Interuniversitarios (con mención de calidad de la ANECA) en "Economía de la Empresa", Universidades de Valladolid, Burgos, Salamanca y León (España). Hasta 2008, Programa de Doctorado Interuniversitario (con mención de calidad de la ANECA) “Nuevas Tendencias en Dirección de Empresas”, Universidades de Valladolid, Burgos y Salamanca (España).

Abstract: This paper is based on agency theory framework and gives an essential justification to the concept of reputation, adding to its function as an informative signal, that of guarantee of contracts. In addition, this contractual approach leads us to a new definition of corporate reputation, one that not only introduces the perceptions of how the firm behaves towards its stakeholders, but also takes into account the degree of informative transparency with which the firm develops relations with them. Using this new and more complete definition, a questionnaire to measure this asset was designed, which was then applied to the Spanish banking sector. Overall, what comes to light is the relation between size and geographical area and the reputation of the firm with its internal stakeholders, since the big national entities, whether they are savings banks or banks, have a better position on this axis.

Keywords: Agency Theory; corporate reputation. (search for similar items in EconPapers)
Date: 2002-06
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Published in Reputation Corporate Review, vol. 5, no. 4, pages 280-301 with the title "The Concept and Measurement of Corporate Reputation: An Application to Spanish Financial Intermediaries"

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