The Link between Corporate Reputation and Financial Performance and Equilibrium within the Airline Industry

Cocis, Andreas-Daniel; Bătrâncea, Larissa; Tulai, Horia

doi:10.3390/math9172150

Cited by 15 publications

(7 citation statements)

References 29 publications

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“…These outcomes deliver important insights to insurance managers and policymakers. Managers should consider that implementing ESG would require a careful tax planning, aimed at preventing negative consequences on profitability, like decreased competitiveness [35] or harmed reputation [36].…”

Section: Discussionmentioning

confidence: 99%

ESG, Taxes, and Profitability of Insurers

Bressan

2023

Sustainability

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The growing concerns about sustainability urge insurance companies to implement Environmental, Social, and Governance (ESG) policies in order to remain competitive. All the three dimensions of corporate sustainability involve taxation; therefore, it is important to establish if this association reflects on financial performance. Our analysis of worldwide property and casualty (P&C) insurers during 2013–2022 reveals that high ESG insurers pay more taxes, while they are less profitable compared to low ESG insurers. This pattern is confirmed using instrumental variable regressions and simultaneous equations systems. We argue that sustainable insurers are less tempted to avoid taxes and do not shift their tax burdens onto policyholders and investors. However, the interplay between taxes and sustainability seems to harm insurers’ profitability, potentially having negative effects on investment and economic growth. This is an important insight for tax authorities and insurance managers.

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Section: Discussionmentioning

confidence: 99%

ESG, Taxes, and Profitability of Insurers

Bressan

2023

Sustainability

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“…Lee and Roh (2012)'s study comprising 230 of the most prominent Fortune 2008 American companies shows that corporate reputation was significantly and positively related to financial performance. A study conducted by Cocis et al (2021) concludes that airline companies with a high and positive reputation record good financial performance and equilibrium. Batrancea, Nichita, et al (2022) also find a "fairly strong link" between financial performance and corporate reputation.…”

Section: Importance Of Performance and Impact Measurement For The Suc...mentioning

confidence: 99%

Social Impact Enhancement: Developing Social Businesses through Impact Measurement, Performance Measurement, and Knowledge Management

Wang

2024

OJBM

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This paper aims to confirm that by implementing certain performance measurement criteria and impact measurement strategies, organisations can enlarge the social impact of their social projects by enhancing their project knowledge management. I first build a framework that links performance and impact measurement with knowledge management, and knowledge management with social impact. I then empirically test this framework's significance in raising social impact using ANOVA regression analysis on gathered data from 70 organisations around the world with social impact projects (social enterprises, non-profit organisations, and conventional businesses with social projects). The novel purpose and value of this study are to promote the use of social impact measurements to resolve social organisations' current difficulties in both finance and impact scale, killing two birds with one stone. The overall conclusion is that effective knowledge management has a positive influence on project social impact and that certain critical success factors, key performance indicators, and impact measurement strategies are significant in enhancing project social impact by improving knowledge management. This conclusion could help social businesses to upscale their social impact. Policies to support social impact projects and impact measurements are also addressed.

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“…After all, the media's activity influences investors' decisions, whose concerns are reflected in the lower demand for risk assets (Kaplanski & Levi, 2010). Consequently, the involved companies lose their reputation (Cocis et al, 2021;Li et al, 2015). Only a few authors have studied the effect of the media on-air accidents (Rodriguez-Toubes and Dominguez-Lopez, 2017; Dimitriou and Antoniou, 2017;Henderson, 2003;Boin et al, 2001), but they do not analyze their effect on the firms' share price.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of the Germanwings Flight 9525 Air Crash: Financial Analysis and Relationship with the Media

González

Celani

Cervera

et al. 2023

Springer Proceedings in Business and Economics

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On March 24, 2015, the largest air accident on the European continent of the last decade took place; the Germanwings Flight 9525 crashed. The main objective of this research is to determine the economic-financial impact of this air crash on the market stock price of the involved companies, Lufthansa airline, and its manufacturer Airbus. This study also contributes to determining whether the financial value of both companies was impacted by the media activity after the event. The primary methodology used is the event study methodology, applying both the market model and the Fama-French model. The results reveal that the impact of the Germanwings Flight 9525 on the financial value of the companies involved is different, since there is a significant effect on the financial value of Lufthansa under the market model, and this effect is immediate, but there is no significant effect on the financial value of Airbus with any of the models analyzed. In the same way, it happens when analyzing the impact of the media, since there is only a significant relationship between Lufthansa's share prices and the impact of media research with the market model. These results are important for the companies involved, and especially for their investors. It also shows that the manufacturing company is less vulnerable to the impact of the media, and it does not suffer significant losses on the stock market.

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The Link between Corporate Reputation and Financial Performance and Equilibrium within the Airline Industry

Cited by 15 publications

References 29 publications

ESG, Taxes, and Profitability of Insurers

ESG, Taxes, and Profitability of Insurers

Social Impact Enhancement: Developing Social Businesses through Impact Measurement, Performance Measurement, and Knowledge Management

Impact of the Germanwings Flight 9525 Air Crash: Financial Analysis and Relationship with the Media

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