Reputação corporativa e desempenho financeiro: uma análise do contexto brasileiro

AUTOR(ES)
DATA DE PUBLICAÇÃO

2008

RESUMO

The concept of corporate reputation is often used to represent a group of intangible assets. Some of them are: the companys brand, its products quality, the motivation and knowledge of its employees and its main clients. We can notice that, through the review of corporate reputations literature, there are many different views about the concept reputation and hardly an agreement about its definition or measurement. However, the different lines of research regarding this theme reinforce the longitudinal characteristic of the concept and the need of its careful management by every and each company, knowing that many studies point out the possible interference on its financial performance. This study aim to comprehend if there is an influence of the reputation in the companies financial performance. The methodology chosen was the usage of the theory of social expectations for measurement, being the execution and evaluation applied through the market research performed by the magazine CartaCapital/InterScience As empresas mais admiradas do Brasil, which presents attributes similar to the ones reported by the theory. This choice was considered mainly due to the intention to evaluate historical data that would agree with the longitudinal characteristic of this concept. The extracted data refer to companies from 39 different sectors, all of them operating in Brazil. Regarding the financial performances evalutation, was used as measurement the Return on Assets, obtained through the Economática database and the publication of the Balanço Anual of Gazeta Mercantil journal. This research applied a multilevel analysis which proves to be the most complete when compared to the traditional statistics techniques, because it considers the data hierarchy. It was identified an important influence of reputation in the performance of the firm. The gain of one position in the reputation ranking of CartaCapital meant an improvement of 0,24 percentual points in the annual performance of the company, which is means a significant improvement and demand of the companys bord an attention for the management of both variable together. Considering the fact that only the best companies in its sector are considered in this sample (sample cut realized by the CartaCapital itself), this findings seams more relevant. The usage of secondary database reflects the studys limitation. It is suggested, for future studies, the usage of a larger sample of stakeholders to verify the impact of reputation, keeping the longitudinal profile of the analysis.

ASSUNTO(S)

intangible assets ativos intangíveis multilevel analysis desempenho financeiro reputação corporativa análise multinível administracao financial performance corporate reputation

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