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Abstract: This article examines the influence of business news on corporate reputation. A panel survey was used to measure the reputations of six companies and two professional sectors. Media coverage was analyzed by focusing on the tone of two different types of news. News about the successes of the companies – such as higher profits – improved their reputations. In addition, some companies’ reputation improved the more they were criticized by their competitors in the news. It is argued on basis of these empirical findings that the reputation of the party attacking a company in the news is crucial in determining its influence on the reputation of the besieged company. [Copyright &y& Elsevier]

Effects of issues in business news on corporate reputation are often assumed, but less often put to a test. To study these effects, this study combines a recent extension of agenda-setting theory—the second level of agenda setting—with issue ownership theory. A content analysis of business news is linked to a panel survey to measure corporate associations and corporate reputation. The results provide empirical evidence both for the second level of agenda setting and for issue ownership, thereby showing that theories from the field of political communication are valuable for understanding the effects of issues in business news. [ABSTRACT FROM AUTHOR]