Trial by media: An empirical investigation of corporate reputation and stock returns in Australia
Sinnewe, Elisabeth & Niblock, Scott J. (2015) Trial by media: An empirical investigation of corporate reputation and stock returns in Australia. Journal of Media Economics, 28(1), pp. 41-60.
This article examines whether investors are able to generate abnormal risk-adjusted returns in the Australian market based on media-specific firm reputational factors under market uncertainty between 2004 and 2012. The findings suggest that after controlling for crisis-centric time periods and market risk factors, contrarian trading strategies produce abnormal returns for poor corporate reputation firms but not for their good corporate reputation counterparts. Corporate reputation may be a driver of performance for poorly performing Australian firms and could be considered a stimulus for trading activity due to its explanatory capabilities.
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|Item Type:||Journal Article|
|Keywords:||Corporate reputation, Stock Returns|
|Subjects:||Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Copyright Owner:||Copyright 2014 Taylor & Francis|
|Copyright Statement:||The Version of Record of this manuscript has been published and is available in Journal of Media Economics, 06 March 2015, http://www.tandfonline.com/10.1080/08997764.2014.997243|
|Deposited On:||26 Feb 2015 22:55|
|Last Modified:||01 Oct 2016 21:08|
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