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This paper systematically analyzes and synthesizes the literature on the determinants and consequences of corporate social responsibility (CSR) disclosure. The study is unique in that it synthesizes based on the geographical setting of the original research. We analyzed 135 empirical studies published in Chartered Association of Business Schools (ABS) ranked journals from 1982 to 2020. The results reveal that various global, country‐specific, market‐specific, and firm‐specific factors are important in determining a firm's CSR disclosure policies. These factors are consistently relevant in both developed and developing economies. Furthermore, the synthesis shows that companies achieve various CSR disclosure‐related benefits in the form of a better reputation, enhanced financial performance, better access to external finances, better stakeholder management, and enhanced corporate accountability. In terms of theories, we observe a high heterogeneity among various studies examining the same empirical phenomenon. Based on the analysis and review results, we identify avenues for future research. [ABSTRACT FROM AUTHOR]

This paper investigates whether firms' responsiveness to customer reviews affects firms' online reputation. Responsiveness is measured by the intensity (fraction) of reviews that are responded to whereas online reputation is measured using TripAdvisor's average customer review rating (1–5 scale). Our analysis is applied to the hotel market in Manhattan (New York). To deal with the endogeneity of a hotel's responsiveness, we instrument it with the responsiveness level displayed by nearby competitors. This identification strategy is motivated by the fact that hotels have a greater tendency to respond to reviews not only because a particular review demands attention, but also because they seek to comply (catch up) with their competitors' level of responsiveness. The results show that one standard deviation increase in a hotel's responsiveness level would result in an improvement of 0.055 stars in TripAdvisor's average online rating (equivalently, an increase of 0.09 SD). Importantly, not accounting for endogeneity would lead to an erroneous conclusion that such effect is nonexistent. In addition, our results show that the effect is heterogeneous. Specifically, the effect is particularly strong for: (a) hotels responding more intensely to negative reviews, (b) independent hotels (vis‐à‐vis chain hotels), (c) hotels with a less established online reputation, (d) hotels with more volatile online ratings, and (e) hotels with more experience responding to negative reviews. We discuss the possible mechanism between firms' responsiveness and online reputation. [ABSTRACT FROM AUTHOR]

Sustainability has become a fundamental concern in today' world—one which firms can no longer remain oblivious to. Through CSR, companies can shore up financial sustainability by acting in responsible, socially and environmentally sustainable ways. Yet the vast majority of literature addressing this phenomenon to date has focused almost exclusively on developed economies. The objective of the present study, therefore, is to contribute to filling this gap by analyzing the potential impact of CSR on sustainable financial value in the context of an emerging economy, Peru. To this end, we used the PLS technique to carry out quantitative analysis of data from a sample of over 200 managers at Peruvian companies. Our model is based on the premises of Social Capital Theory and Theory of Resources. Specifically, we analyze the extent to which CSR impacts corporate reputation, brand image and financial value in the context of an emerging economy. Our data indicate that—unlike more developed economies—in emerging economy contexts, direct relationships linking CSR and company financial value are lacking, though may occur by way of the path CSR > reputation > brand image > financial value. We also find that size moderates this path, while the sector of activity does not moderate the causal model. Hence, we suggest that both the cross‐cultural component and differing degrees of economic development and market maturity affect the perceived impact of CSR on financial value. The present study is pioneering in that it analyzes the impact of sustainability on financial value from the perspective of managers in an emerging economy context. Key theoretical and practical implications of our findings are provided in the final section of the paper. [ABSTRACT FROM AUTHOR]

Dow Jones Sustainability Index (DJSI) members are considered top sustainable companies within each sector. Thus, DJSI inclusion signals a reputation for strong Corporate Social Responsibility (CSR) engagement, which should contribute to enhanced firm performance. This paper examines the performance of the European banks listed in the DJSI for the period 2003-2013 and analyzes the effect of having a reputation for CSR on performance during a period of economic crisis. A vast amount of literature links CSR, reputation and performance, but few studies have examined the banking sector and the impact of the last recession. Our results suggest that banks' efforts to build a reputation for CSR benefits performance. Nevertheless, in periods of crisis, these efforts do not contribute to improved returns. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

ABSTRACT This study explores how seller reputations affect auction prices and concludes that earlier findings may be biased due to the misspecification of seller reputation. This paper contributes to the literature by offering significant empirical evidence using Taiwanese internet auction data. Our study reveals that the influence of seller reputations on auction prices is significant, irrespective of the assumptions of linear or non-linear relationships with price. However, failure to consider the non-linear setting of seller reputation leads us to underestimate the impact of reputation when the seller's reputation score is low, but overestimates it when the seller's reputation becomes high. Using quantile regression, this study finds evidence of considerable differences in their impact on auction prices that are dependent on the distribution of price levels. [ABSTRACT FROM AUTHOR]

This study examines whether corporate reputation affects derivative hedging. We posit that high‐reputation firms are more likely to engage in hedging due to greater reputation costs and/or their commitment to lower financial risks. We find that high‐reputation firms are more likely to engage in hedging, especially when their hedging efforts or effects are more observable to stakeholders. We also find that high‐reputation firms are less likely to disclose the notional values of hedging positions and that interest rate hedging by high‐reputation firms is detrimental to firm value. Our results shed light on the impact of reputational concerns on corporate risk management and disclosure policies. [ABSTRACT FROM AUTHOR]

We study dynamic signaling in a game of stochastic stakes. Each period, a privately informed agent of binary type chooses whether to continue receiving a return that is an increasing function of both her reputation and an exogenous public stakes variable or to irreversibly exit the game. A strong type has a dominant strategy to continue. In the unique perfect Bayesian equilibrium, the weak type plays a mixed strategy that depends only on current stakes and her historical minimum and she builds a reputation by continuing when the stakes reach a new minimum. We discuss applications to corporate reputation management, online vendor reputation, and limit pricing with stochastic demand. [ABSTRACT FROM AUTHOR]

This research examines the effect of corporate reputation for firm risk in a developing country for a sample of 256 Indonesia firms for the period 2011–2015. Using two‐step generalized method of moments approach, this research documents five important findings: (a) firm with higher reputation exhibits lower total risk (stock return volatility) and lower tail risk, yet, no significant effect on default risk; (b) Firms with high leverage use reputation effect for less total risk, tail risk, and default risk; (c) Firms with low leverage only enjoy the reputation effect on less total risk, but no reputation effect on tail risk and default risk; (d) Firms with high profitability utilize reputation to reduce the tail risk and default risk; and (f) firm with low profitability has less tail risk when their reputation is high. This evidence contributes to the literature by uncovering important and previously unidentified determinants of risk, namely, reputation. It offers an insight to stakeholders that reputation does matter. [ABSTRACT FROM AUTHOR]

The aim of this article is to explore both the direct and indirect effect of corporate social responsibility (CSR) on corporate financial performance (CFP). Specifically, the mediating role of corporate reputation (CR) on the relationship between CSR and CFP is examined. We empirically investigate a sample of 3274 listed firms over the period 2009–2016 drawn from 25 countries located at Europe, Asia, Africa, and South and North America. Using four OLS regressions, we evince on the one side that CSR has a positive and direct impact on CFP. On the other side, we show that CR mediates the relationship between CSR and CFP: CSR has a significant and positive impact on CR and that CR has a significant and positive influence on CFP. The results of this study add to CSR‐related literature by providing international evidence and provide direction for a comparison across countries. [ABSTRACT FROM AUTHOR]

Despite the increasing number of publications on organizational reputation in the public administration throughout the last two decades, no systematic review has been conducted to synthesize the current state of the literature. This article contributes to this issue by bringing together empirical and theoretical academic research—119 articles and seven books—to analyze five critical aspects of this scholarship: conceptualization, types implemented, antecedents, outcomes, and multidimensionality. This work provides an overview of the field while identifying five critical areas for further research: reputational audiences, public leaders' impact on reputation, development of typologies based on the characteristics of reputation, the use of standardized methods to conduct more cies, and research on a wider variety of cultural and organizational contexts. [ABSTRACT FROM AUTHOR]

The research aims to develop and to test a conceptual model to measure corporate reputation and assesses its impact on altering customers' normal behaviour. The findings add to the existing literature by empirically demonstrating that corporate reputation should be interpreted as a reflective construct that can be measured by the means of 25 items, grouped in seven major factors. The analysis validated a medium‐to‐high impact of reputation on customers' loyalty, word‐of‐mouth, and adoption of new product or service introductions, while the desire to pay a premium price was rejected. This study explains why executive managers should embrace corporate reputation as an imperative for the company's efforts to influence customers' behaviours and ultimately to outpace competitors. It also provides the executive management with an actionable tool to map out the corporate issues that need to be addressed and proved that companies can shorten the path to purchase by means of reputation, without a huge cost. [ABSTRACT FROM AUTHOR]

The new landscape in the financial sector, characterized by fierce competition and the entrance of new technological players, has forced banks to speed up their digital transformation. However, for banks, digitalization entails challenges that can hinder the potential benefits and compromise their survival. In this context, we argue that the reputation generated by corporate sustainability (RCS) may offset these digitalization drawbacks. In particular, we find that the combination of RCS and digitalization facilitates in transforming the organizational nature of banks by simultaneously narrowing their boundaries and expanding their scope. We empirically confirm our hypotheses by analyzing a panel of 110 multinational banks from developed countries. [ABSTRACT FROM AUTHOR]

Reputation is of growing interest for the study of public bureaucracies, but a measurement that can discern between the subdimensions of reputation and is validated on real‐life audiences has remained elusive. The authors deductively build, test, and cross‐validate a survey instrument through two surveys of 2,100 key stakeholders of the European Chemicals Agency, the European Union chemicals regulator. This empirical tool measures an agency's reputation and its building blocks. This scale represents an important contribution to reputation literature, as it allows scholars to distinguish and measure which aspects of reputation public organizations are "known for" and build their claim to authority on, as well as how the profiles of public organizations differ. The authors find that direct stakeholder contact with the agency is necessary for stakeholders to be able to evaluate the separate dimensions of reputation independently. Evidence for Practice This study equips practitioners with a reputation barometer tailored to the public sector. It allows them to measure the reputation of their organization, in a differentiated fashion, among different stakeholder groups.While public organizations increasingly engage in reputation management activities, a potential caveat that emerges from our exercise is that managers might be steering in non‐astute directions. While our study shows that, as for private actors, "performance matters," procedural and moral aspects also weigh heavily in the eyes of stakeholders when it comes to public regulators.To secure a positive organizational image and the authority crucial for public agencies to operate, the performance management turn in the public sector may need to be supplemented by an enhanced organizational attention to procedural and moral aspects. [ABSTRACT FROM AUTHOR]

A central proposition of the "business case" for corporate social responsibility (CSR) is that a company's CSR practices are linked to consumer behavior and a firm's financial performance through reputational mechanisms. This study addresses the equivocal support for this proposition through an empirical analysis of the survey items most often used to assess a company's CSR and its stakeholder reputation. This study tests the congruence among nine different measures of environmental, social, and governance dimensions of CSR and a public corporate reputation measure. Two distinct factors are identified—direct CSR impact and assessment/reputation—suggesting that the global corporate reputation does not capture tangible CSR impact (environment and social) and is only congruent with a measure of intangible CSR performance (governance). The study highlights the importance of taking a multidimensional approach. Addressing measurement issues helps unpack the theoretical and practical link between CSR and corporate reputation and provides strategic guidance when planning CSR business and communication strategies. [ABSTRACT FROM AUTHOR]

Owing to the increased trend for organic products and the concept of sustainable development, firms must invest in valuable and unique resources to achieve long‐term success and gain competitive advantages. Building on insights from the resource‐based view and natural‐resource‐based view of the firm, the study focuses on the contribution of corporate reputation and eco‐certification as intangible influences on corporate performance. Duration analysis is applied on a sample of 1,572 German wineries over the period 1994 to 2017. The results indicate that individual reputation and eco‐certification have a statistically significant and positively impact on corporate performance, whereas there is no clear evidence of this relationship for collective reputation. In addition, especially those firms with high individual reputation benefit most from eco‐certification. These results are robust across different parametric and semiparametric model estimations. [ABSTRACT FROM AUTHOR]

Abstract: Corporate social responsibility (CSR) is believed to improve a company's reputation. However, CSR may also put reputation at risk by making the company a more attractive target for activists' campaigns. We test this effect on a sample of 1355 European small and medium‐sized enterprises (SMEs). We find that CSR increases the future probability that an SME's CSR is monitored by local non‐governmental organizations (NGOs) and that this moderates criticism of the SME's CSR. The results imply that SMEs that only halfheartedly implement CSR are more vulnerable to public criticism than SMEs that do not engage in CSR at all. It is advisable that SMEs only position themselves as sustainable companies if their environmental policies have proven to contribute to sustainable development. When initiating stakeholder engagement, SMEs should prevent disappointment by tempering stakeholders' expectations, as NGOs participating in a stakeholder dialogue can use inside information to raise public criticism. © 2017 The Authors. Corporate Social Responsibility and Environmental Management published by ERP Environment and John Wiley & Sons Ltd. [ABSTRACT FROM AUTHOR]

Norway rats ( Rattus norvegicus) cooperate according to indirect reciprocity, which implies the involvement of a reputation mechanism. Here, we test whether the rats employ such mechanism in repeated cooperative interactions. Focal subjects were first trained individually to pull food towards a social partner. During the experiment, the focal rats were confronted with two types of trained social partners: one always cooperated and the other one always defected, either in the presence or in the absence of an audience. Based on the hypotheses that the rats possess a reputation mechanism involving image scoring, we predicted them to be more helpful in the presence of an audience, independently of the partner's cooperative behaviour. If, in contrast, reputation involved a standing strategy, we predicted the rats to distinguish more between cooperators and defectors in the presence of an audience than in its absence. The rats helped cooperative partners more than defectors, but against both predictions the presence or absence of an audience did not influence their helping propensity. This indicates that either reputation is not included in the decision of rats to help an individual that has helped others, or that reputation is neither involving image scoring nor a standing strategy. Although the rats have been shown to modulate their decision to help a social partner based on its helpful behaviour towards others, they do not seem to adjust their behaviour strategically to the presence of an audience. [ABSTRACT FROM AUTHOR]

This study, based on attribution theory, provides empirical evidence for how environmental violation events (EVEs) damage corporate reputation, using media reputation as a proxy. Hypotheses are developed to address the influences of violating firms' past environmental behaviors and ownership on the reputational effect of EVEs. The results show that firms with a history of unfavorable behaviors (precedent environmental violation) are deemed by the media to be more culpable for adverse environmental events and consequently suffer more damage to their reputation, while for firms with a favorable environmental record (environmental awards and honors gained) the reputational harm of an EVE is alleviated to some extent. EVEs cause more reputational damage to foreign-owned enterprises than to domestic-owned firms. These findings reveal that certain company behaviors could exert an indirect effect on a firm's reputation by influencing public perception of later relevant behaviors, and imply a discriminatory treatment in a host country for foreign-owned enterprises. [ABSTRACT FROM AUTHOR]

Word-of-mouth is thought to be an effective external recruitment information source that organizations are not generally able to do much about. While a number of previous studies have suggested the effectiveness of word-of-mouth recruitment, few have explored the specific factors enabling organizations to manage it effectively. This study addresses the cross-level influence of employer brand management (EBM) and organizational prestige on employees' word-of-mouth referrals. A total of 308 survey responses from senior managers and their employees were received from 33 firms in Taiwan. All hypotheses were supported, which suggests significant relationships between EBM, organizational prestige, and employees' word-of-mouth referrals. The study results also suggest that organizations are able to manage employee word-of-mouth referrals by enhancing EBM and reinforcing employees' perceived organizational prestige accordingly. [ABSTRACT FROM AUTHOR]