The impact of brand value on firm valuation: The moderating influence of firm type

Kirk, Colleen P.; Ray, Ipshita; Wilson, Berry

doi:10.1057/bm.2012.55

Cited by 59 publications

(46 citation statements)

References 38 publications

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“…This characteristic produces a lower value relevance for brand values, as demonstrated by Kirk et al (2013).…”

Section: Resultsmentioning

confidence: 97%

“…Mizik and Jacobson (2008) identify relevance and energy as Y&R Brand Asset Valuator's metrics which explain the informative content of brands. Examining the industry effect, Kirk, Ray and Wilson (2013) reveal that the association between brand values and stock prices depends on firm type. They find that this relationship is significant for consumers firms but not significant for industrial firms.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

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Empirical Evidence on the Value Relevance of Brand Values across Countries

Dicuonzo¹,

Perrone²,

Dell’Atti³

2018

IBR

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Stock prices reflect firms-related information differently depending on the environmental and institutional context. However, previous empirical studies test mainly accounting data. Since intangible assets became a crucial element for business success and brands are considered critical for value creation, correlated disclosure is proven to be value relevant for investors. The majority of accounting standards do not allo w to recognize internally generated intangible assets in the balance sheet and therefore more and more practitioners, both investors and analysts, use brand values provided by third independent parties, such as consulting firms. The purpose of this paper is to investigate whether and how brand-related information differs across countries testing the value relevance of brand values published in Brand Finance's Reports. This study aims to open a new stream of literature regarding the value relevance of non-accounting information across countries.

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“…This characteristic produces a lower value relevance for brand values, as demonstrated by Kirk et al (2013).…”

Section: Resultsmentioning

confidence: 97%

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Empirical Evidence on the Value Relevance of Brand Values across Countries

Dicuonzo¹,

Perrone²,

Dell’Atti³

2018

IBR

View full text Add to dashboard Cite

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“…Kallapur-Kwan [2004] és Johansson-Dimofte-Mazvancheryl [2012] is hasonló eredményeket publikáltak, utób-biak azzal az állítással kiegészítve, hogy az erős márka pénzügyi válság esetén is érté-kes eszköz marad. Kirk-Ray-Wilson [2013] az általuk vizsgált vállalatokat két csoportra osztotta: fogyasztási termékeket (consumer firms) és ipari termékeket (industrial firms) gyártó cégekre. Az így összeállított adatbázist elemezve arra jutottak, hogy a márkaérték szignifikáns együttmozgást mutat a részvényárfolyammal, de csak a fogyasztási termékeket gyártó vállalatok esetében.…”

Section: Szakirodalmi áTtekintésunclassified

A pénzügyi teljesítmény és a piaci elfogadottság hatása a nemzetközi feldolgozóipari, valamint szolgáltatóvállalatok részvényáraira

Takács¹

2017

Statisztika szemle

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“…Three dummy variables have been constructed, which indicate whether a rm's product innovation was introduced under an established brand, under a new brand or (the reference category) without any branding. Brands are built over time through a variety of management choices such as expenditures on advertising, promotions, market research, loyalty programs, distribution channel development, product-quality and customer service eorts, and new product development (Kirk et al, 2013). Marketing expenditures capture an important part of these expenses, including all in-house and contracted out expenditures for advertising and branding, reputation building, conceptual design of marketing strategies, market and costumer research, and the installation of new distribution channels.…”

Section: The Use Of Brands For Product Innovationsmentioning

confidence: 99%

The Impact of Brand Use on Innovation Performance Empirical Results for Germany

Crass

2014

SSRN Journal

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Die Dis cus si on Pape rs die nen einer mög lichst schnel len Ver brei tung von neue ren For schungs arbei ten des ZEW. Die Bei trä ge lie gen in allei ni ger Ver ant wor tung der Auto ren und stel len nicht not wen di ger wei se die Mei nung des ZEW dar.Dis cus si on Papers are inten ded to make results of ZEW research prompt ly avai la ble to other eco no mists in order to encou ra ge dis cus si on and sug gesti ons for revi si ons. The aut hors are sole ly respon si ble for the con tents which do not neces sa ri ly repre sent the opi ni on of the ZEW. Non-technical summaryInnovative firms aim to transfer their R&D and other related investments into successful innovations. The success of innovations requires both: the successful completion of the research and development process, resulting in a new or improved product, as well as the acceptance of the product in the market, resulting in commercial success for the firm. Following Griliches (1979), intangible capital affecting innovation success is mainly shown to be determined by the technological side. Innovation success is influenced by a firms investment in innovation, its technological capabilities, its absorptive capacities, and the use of external knowledge (Cohen and Levinthal, 1990;Crépon et al., 1998;Lööf and Heshmati, 2002;Peters and Schmiele, 2011;Peters, 2008;Hall and Mairesse, 2006). According to this framework, new technology enables the creation of new or improved functional product attributes that speak for themselves. This is at odds with the observation that (potential) customers are not perfectly informed about quality characteristics, prices, or even the existence of product innovations. Consequently, considerable marketing activities might be necessary to overcome information asymmetries in the market. This is in line with the finding that marketing expenditures are responsible for large parts of expenditures for launching innovations (Pavitt, 1985). In other words, while a firm's technological abilities make a product innovation possible, this product may face a lack of interest among potential customers after its market introduction. Aaker (2007) points out that the branding of an innovation "can make all the difference." This paper investigates the performance effects of branding on a firm's innovation success. First, I investigate whether the brand strategy of a firm affects the introduction of new products. Second, given that a firm has decided to introduce new product(s), I analyse whether brands are conducive to innovation success, measured in terms of sales with new products. When a firm introduces a new product, it has to make two choices. First, whether the new product is introduced with or without a brand and if it opts for a brand, whether it relies on an established brand or creates a new brand. I make use of German 2011 Community Innovation Survey (CIS), which provides a direct link between the introduction of a firm's product innovations and its use of a new or an established brand. The results suggest that branded product in...

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The impact of brand value on firm valuation: The moderating influence of firm type

Cited by 59 publications

References 38 publications

Empirical Evidence on the Value Relevance of Brand Values across Countries

Empirical Evidence on the Value Relevance of Brand Values across Countries

A pénzügyi teljesítmény és a piaci elfogadottság hatása a nemzetközi feldolgozóipari, valamint szolgáltatóvállalatok részvényáraira

The Impact of Brand Use on Innovation Performance Empirical Results for Germany

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