UNDERSTANDING THE DIRECTION, MAGNITUDE, AND JOINT EFFECTS OF REPUTATION WHEN MULTIPLE ACTORS' REPUTATIONS COLLIDE

• 成果类型: Article
• 署名作者: Boivie, Steven; Graffin, Scott D.; Gentry, Richard J.
• 署名单位: Texas A&M University System; Texas A&M University College Station; Mays Business School; University System of Georgia; University of Georgia; University of Mississippi; University of Mississippi
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/amj.2014.0521
• 发表日期: 2016
• 页码: 188-206
• 关键词: CONFLICTS-OF-INTEREST; CERTIFICATION CONTESTS; CORPORATE REPUTATION; analysts; IMPACT; FIRMS; ORGANIZATIONS; CONSEQUENCES; performance; legitimacy

摘要

Despite extensive research efforts into the effects of reputation, virtually all of it has examined the effect of one type of reputation on one or more specific outcomes. But, how, for example, might the reputations of analysts, CEOs, and firms individually and jointly affect firm outcomes? To answer this question, the present study focuses on a context in which reputations are particularly relevant: changes in analyst recommendations and the effect of those changes on stock market reactions. Our study contributes to the increasing reputation literature by being one of the first to recognize and measure how the market accounts for multiple reputations. Further, we argue and find that the reputations of different actors interact with each other when determining particular firm outcomes. We also find that different actor's reputations influence the reactions of observers.