Multidimensional brand equity and asymmetric risk

Ha, Kyoungnam Catherine; Song, Reo; Erickson, G. M.

doi:10.1016/j.ijresmar.2020.10.002

Cited by 6 publications

(14 citation statements)

References 57 publications

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“…Finally, Mizik and Jacobson (2008) focus on the five pillars of customer-based BE (i.e. differentiation, relevance, esteem, knowledge and energy) and examine each pillar's effect on stock return. The second group of studies examines BE's role in mitigating firm-level risks (Rego et al , 2009; Bharadwaj et al , 2011; Johansson et al , 2012; Ha et al , 2021). Building on the findings of this research stream, we later conceptualize the buffering impact of BE on risks (stock beta and stock volatility) as one of the measures of firm financial performance.…”

Section: Literature Review and Theoretical Developmentmentioning

confidence: 99%

“…Strong brands are important indicators of firms' success in developing and implementing marketing and brand strategy (Davcik et al , 2015; Rahman et al , 2022; Wang and Sengupta, 2016). Accordingly, extant research has documented the positive relationship between BE and tangible metrics such as brand stock performance (Ha et al , 2021; de Oliveira et al , 2018; Johansson et al , 2012; Bharadwaj et al , 2011).…”

Section: Introductionmentioning

confidence: 99%

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Brand equity and stock performance in time of crisis: evidence from the COVID-19 pandemic

Farhang¹,

Kamran-Disfani

Zadeh

2022

JPBM

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Purpose This paper aims to investigate the impact of brand equity (BE) on stock performance (i.e. stock return, volatility and beta), and compare the performance of a high brand equity stocks (HBES) portfolio with that of the overall market during market downturn, market upturn and total disturbance periods of the COVID-19 pandemic in 2020. Design/methodology/approach Stock performance data and brand valuation estimates are obtained from various sources to assemble a portfolio of HBES and conduct the analyses. Econometric models are estimated to examine the impact of BE on stock performance and compare the HBES portfolio performance versus the overall market. Findings BE was positively associated with stock return and negatively associated with both types of risk (volatility and beta) during the COVID-19 pandemic. Specifically, during the market downturn period, BE was positively related to stock return and negatively related to stock volatility; during the market upturn period, BE was negatively associated with both types of risk; and during the total disturbance period, BE was positively associated with stock return and negatively associated with both types of risk. Finally, the HBES portfolio outperformed the market (S&P 500 index). Research limitations/implications The findings advance the extant research by providing evidence pertaining to brands' role in mitigating the impact of unpredictable market shocks and crises, such as the COVID-19 pandemic, on stock performance. While brands are mostly viewed as drivers of sustained competitive advantage and profitability, their protective role in crisis times is noteworthy. Practical implications The research findings potentially help marketing and brand managers to justify marketing spending and craft their strategies to enhance firm performance during crises similar to COVID-19. Originality/value The marketing–finance interface can benefit from insights offered by the COVID-19 pandemic, as such crises are becoming prevalent and are capable of damaging various stakeholders' outcomes (firms, investors and customers). The empirical examination is separately conducted on the market downturn, market upturn and total disturbance period attributable to the COVID-19 pandemic.

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Section: Literature Review and Theoretical Developmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Brand equity and stock performance in time of crisis: evidence from the COVID-19 pandemic

Farhang¹,

Kamran-Disfani

Zadeh

2022

JPBM

View full text Add to dashboard Cite

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“…Aset tidak berwujud berbasis pasar yaitu ekuitas merek yang diciptakan oleh aktivitas strategis seperti iklan atau program research and development akan mempengaruhi kinerja perusahaan dan mengurangi risiko perusahaan. Artinya, ekuitas merek bertindak sebagai penghalang persaingan, meningkatkan loyalitas pelanggan, dan mengurangi kovarians antara pengembalian saham perusahaan dan pengembalian pasar, sehingga menurunkan beta CAPM perusahaan (Ha et al, 2021).…”

Section: Pendahuluanunclassified

“…Sedangkan pada risiko sistematis terdapat premi risiko yaitu beta perusahaan atau sejauh mana pengembalian perusahaan bervariasi dengan pengembalian di seluruh pasar. Oleh karena itu, strategi pemasaran yang terkait dengan beta yang lebih rendah dapat meningkatkan nilai perusahaan, terlepas dari pengaruhnya terhadap arus kas (Ha et al, 2021).…”

Section: Pendahuluanunclassified

Determinan Kemampuan Auditor Dalam Mendeteksi Kecurangan

Samsiah

Agustiawan

Jariah

2022

JAE

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Stakeholders in decision-making really need reliable and valid financial reports. Financial statements are reliable if they have passed an examination process called an audit. The audit of financial statements is carried out to provide an explanation that the financial statements are free from material misstatement and avoid harmful actions or fraud. This study was conducted to analyze the determinants of the auditor's ability to detect fraud. Respondents selected in this study were auditors who worked at KAP in Pekanbaru as many as 45 respondents. Furthermore, data processing is carried out based on the results of distributing questionnaires to 45 respondents with the help of statistical tools in the form of SPSS V 25. The processed data results prove that the determinants of workload, audit experience, personality type and self efficacy have a significant influence on the auditor's ability to detect fraud.

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“…Therefore, companies must have planned carefully to make decisions ( Wasiuzzaman & Nurdin, 2019). In a public company, there is always a general meeting of shareholders (GMS) to determine the company's plans and make decisions by consensus (Ha et al, 2020;Musnadi, 2020). This GMS will be held once a year.…”

Section: Introductionmentioning

confidence: 99%

Investment decisions, financing and dividends to increase firm value: a case study of manufacturing companies in Indonesia

Meutia¹,

Apridar²,

Mursidah³

et al. 2021

EA-XXI

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This study aims to determine the direct relationship of firm value with investment decisions, funding, dividends, and agency costs. The method used in this research is descriptive. The object under study is the manufacturing companies listed on the Indonesia Stock Exchange IDX during 2008-2017, totalling 108 companies. Data was collected using a survey method on cross-sectional and time-series data. The data analysis method used the Partial Least Square (PLS) technique. Tobin’s Q is used as a parameter of firm value. CAP/BVA as an investment decision parameter, DER as a funding decision parameter, DPR as a dividend decision parameter, and FCF as an agency cost parameter. The results directly influence the model that investment decisions, funding decisions, dividend decisions, and agency costs positively affect firm value. The indirect impact states that agency costs significantly mediate the relationship between investment decisions, funding decisions, and dividends on firm value.

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Multidimensional brand equity and asymmetric risk

Cited by 6 publications

References 57 publications

Brand equity and stock performance in time of crisis: evidence from the COVID-19 pandemic

Brand equity and stock performance in time of crisis: evidence from the COVID-19 pandemic

Determinan Kemampuan Auditor Dalam Mendeteksi Kecurangan

Investment decisions, financing and dividends to increase firm value: a case study of manufacturing companies in Indonesia

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