The influence of brand image and company reputation where manufacturers market to small firms: A customer value perspective

Branding research has largely focused on consumer goods markets and only recently has attention been given to business markets. In many business markets the company's reputation has a strong influence on buying decisions which may differ from the more specific product related influence of the brand's image. In this paper we investigate these differences by testing the hypotheses about the influences of brand image and company reputation on customers' perceptions of product and service quality, customer value, and customer loyalty in a business market where there are three manufacturers marketing their brands directly to a large number of small firms. The results indicate that the brand's image has a more specific influence on the customers' perceptions of product and service quality while the company's reputation has a broader influence on perceptions of customer value and customer loyalty.     

Corporate reputation in the People’s Republic of China: A B2B perspective

How B2B firms in the People's Republic of China [PRC] view, value and manage their corporate reputation has received little research attention. Drawing on multiple case studies, our findings confirm that firms are utilizing certain Western conceptualizations of corporate reputation, including the leveraging of intangible forms of corporate reputation. However, many of the firms were also using the hitherto underemphasized elements of firm-government relationships and government regulatory policies to create positive assessments of a firm's reputation among key stakeholders. Notwithstanding our findings that corporate reputation is valued as a means of gaining competitive advantage and dispelling perceptions that Chinese products/services are low-cost and low-quality, concern remains that building reputation capital among stakeholders may result in a loss of price competitiveness. Finally, unlike the framework proposed by Barnett, Jermier, and Lafferty (2006), our results suggest that B2B firms in China do not impose clear boundaries between reputation and ‘corporate reputation capital’. Nor does there appear to be an emphasis on disaggregating the constructs of identify and image from that of reputation.     

Corporate reputation and customer behavioral intentions: The roles of trust, identification and commitment

How does corporate reputation influence customer behavioral intentions? This article proposes a model with customer trust, customer identification and customer commitment as the key intervening factors between corporate reputation and customer purchase intention and willingness to pay a price premium. We test the model by using data from 351 customers of three Chinese B2B service firms. Results indicate that corporate reputation has positive influence on both customer trust and customer identification. Customer commitment mediates the relationships between the two relational constructs (customer trust and customer identification) and behavioral intentions. Customer identification and customer commitment relate closely, but they are distinct constructs in the B2B setting.     

The effects of corporate reputation perceptions of the general public on shareholder value

Superior corporate reputations can have strategic value for firms. Of the “multiple reputations” associated with each firm, we focus on the perceptions of the general public. The public represents the most widely defined stakeholder group but has attracted the least amount of research interest to date. Drawing on data for German firms, this study demonstrates that superior reputation perceptions issued by the general public increase shareholder value, as measured by future stock returns. This study provides a more nuanced understanding for this novel finding. Applying a conceptualization of reputation that balances both its affective and cognitive components, we find that reputation perceptions that are driven by nonfinancial aspects are more value relevant in the future than reputation perceptions that are driven by previous financial performance. Copyright © 2014 John Wiley & Sons, Ltd.     

Marketing strategy and the efficacy of procedural justice: The mid-level marketing manager in industrial service firms

A principal challenge confronting the senior marketing team in B2B firms is how to ensure that the marketing strategies they develop are implemented effectively. The literature indicates that mid-level marketing managers' perceptions of the procedural justice within the firm may be critical in this respect. However, there has been little empirical research on this issue. The authors develop and test a conceptual model of the key drivers and consequences of marketing managers' procedural justice perceptions. The findings show that if mid-level marketing managers trust their senior marketing colleagues and simultaneously operate within moderately organic structures, then procedural justice will thrive. A consequence of this is more effective implementation of marketing strategy which, in turn, leads to increased market performance.     

Creating trust and commitment in B2B services

In an ever-changing environment, business relationships are becoming increasingly complex. This particularly applies to the business-to-business (B2B) service sector due to its intangible nature. The combination of personal and organizational relationships further increases this complexity. However, trust can reduce uncertainty and complexity and help maintain commitment. Based on structural equation modeling and a sample of 1692 participants, this study provides insights into the drivers of trust in organizations and salespersons and their impact on commitment. The results show that both are important, but trust in a salesperson far surpasses the effect of trust in an organization. Furthermore, reputation and service quality influence trust in an organization, while social skills and low selling orientation affect trust in a salesperson. In summary, to the best of our knowledge, our study is the first to provide a comprehensive trust model in the B2B service market, and it might serve as a guide for future research.     

Well Known or Well Liked? The Effects of Corporate Reputation on Firm Value at the Onset of a Corporate Crisis

Research summary : We study how two dimensions of reputation (i.e., generalized favorability and being known) and attribution of crisis responsibility affect firm value at the onset of a crisis. Analyzing 126 corporate crises befalling publicly listed firms in China from 2008 to 2014, we find that generalized favorability serves as a buffer, while being known can be a burden, in influencing firm value. We also find that the buffering effect of generalized favorability is stronger when the attribution of crisis responsibility is low (vs. high). In addition, there is a negative interaction effect between the two dimensions of reputation such that the buffering effect of generalized favorability weakens when firms are better known. We discuss our contributions to research on corporate reputation and crisis management. Managerial summary : Corporate reputation is an intangible asset, especially at the onset of a corporate crisis. This research sheds light on the “double‐edged sword” of corporate reputation by examining the effects of two reputation dimensions (i.e., being liked and being known) on firm value. Our results suggest that well‐liked firms can leverage their generalized favorability among stakeholders to assuage firm value loss, whereas well‐known firms may have to better communicate with stakeholders to overcome the burden of stakeholders' attention that escalates firm value loss. To better cope with the onset of a crisis, firms should therefore enhance their generalized favorability and simultaneously avert stakeholders' excessive attention. In addition, well‐liked firms can further buffer against the loss in firm value by reducing the perceived intentionality of a crisis. Copyright © 2017 John Wiley & Sons, Ltd.     

Exploring reputation of B2B partnerships: Extending the study of reputation from the perception of single firms to the perception of inter-firm partnerships

Reputation is a concept that has been widely studied in terms of the perceptions of characteristics of single firms. We argue that there is merit in extending the study of reputation to the perception of characteristics of inter-firm partnerships. Cases of business-to-business partnerships are used to explore the notion of partnership reputation and its associated characteristics. Insights from the study of corporate reputation are used to develop a conceptual model and propositions that specify some of the characteristics and outcomes of partnership reputation. We propose that partnership reputation includes perceptions of mutual understanding, flexibility of interaction and synergy. The benefits of partnership reputation are then explored in terms of the positive behaviours such a reputation may engender with stakeholders. The paper concludes by discussing limitations and outlining directions for future research.     

The effect of merger on employee views of corporate reputation: Time and space dependent theory

Market relationships are often influenced by factors inside of the firm. Here we examine how the employees' view of corporate reputation of a merged B2B firm, assessed by corporate character (empathy, warmth, integrity and conscientiousness), influences their emotional attachment, satisfaction and job security. Warmth and empathy correlate strongly with satisfaction. Amongst a number of hypothesised ‘proximity’ factors time (e.g. length of service) and space (e.g. work location) had a substantial effect on perceived warmth and empathy. The interaction of the two had the most significant effect on emotional attachment; in that employees working remotely and of longer standing were the most disaffected. We propose the employees' length of service and work location as important factors generally in determining their emotional response to a merger and in predicting where disaffect will be most acute.     

Reputation gaps and the performance of service organizations

Links between the reputation of organizations and their financial performance are intuitively attractive to assume, but often difficult to demonstrate convincingly. Gaps between employee and customer perceptions of corporate reputation have traditionally been associated with poor performance. In the context of service business and applying assimilation‐contrast theory, we hypothesize that the nature of such gaps will, in reality, have a differential effect on future revenue depending on the size and valence of the gap. The effects of small gaps should be assimilated by customers, but larger ones have a greater potential of creating a contrast effect resulting in significant increases or decreases in subsequent sales. In businesses where employees have a more positive view of the company reputation than customers, we hypothesize a growth in future sales, and where they have a relatively more negative view, a decline. We test the effects of what we label as reputation gaps in 56 business units drawn from nine service organizations and confirm our hypotheses. Among the implications of our findings are that managing reputation by elevating employee perceptions of a company's reputation above those perceived by its customers holds the potential to enhance future sales. Copyright © 2009 John Wiley & Sons, Ltd.     

职业经理人会关注他们的市场声誉吗——来自中国资本市场舞弊行为的经验透视

本文构建了一个经理人声誉与舞弊行为的关系模型,从公司舞弊行为角度透视经理人对自身市场声誉的关注情况。模型预测,基于职业生涯利益的考量,越年轻、合同报酬越高、外部招聘的经理人越注重职业声誉,其所在上市公司越不易发生舞弊。以被证监会处罚的A股上市公司为对象的检验表明:目前我国经理人市场并没有为年轻经理人向市场显示其优秀经营才能和抑制舞弊提供足够激励;外部招聘的经理人并不具备更强经营能力,其所在上市公司舞弊可能性不一定会降低;经理人合同报酬与舞弊显著负相关,但考虑经理人市场竞争后其抑制舞弊的作用降低;经理人市场竞争与经理人合同报酬是两种相互替代的经理人市场治理机制。     

Understanding corporate B2B web sites' effectiveness from North American and European perspective

The globalization of economic activities has led multinational business-to-business (B2B) firms to use their corporate web sites extensively to communicate with their stakeholders. Using a field study of 368 business customers, this paper examines three factors of information that influence corporate web sites' effectiveness in a B2B context and whether these factors differ by web site user's national origin. Results indicate that informativeness of a corporate web site is important for both North American and European visitors. Quality of information is important for European users but not an important aspect for North American users. Usability is the most important factor for North American users but it is not important for European users. Implications of these results are discussed for managerial practices and further research.     

A service perspective on business relationships: The value creation, interaction and marketing interface

Adopting a service perspective or logic on business directs suppliers' focus in business relationships towards engaging with their customers' business processes. The purpose of this article is to analyze implications for value creation and marketing of adopting a service logic in business relationships. In the article it is demonstrated that a service perspective is multi-dimensional, enabling the mutual creation of value, with service as a mediating factor in that process. It is argued that value creation, purchasing, usage and marketing are intertwined processes. Here supplier-customer interactions are in a focal position. This perspective enables marketers to better understand how to develop and extend service offerings through assistance to customers' processes relevant to their businesses. Therefore, the underpinning logic of industrial interactions is analyzed in detail, extending marketing's conventional boundaries.     

Corporate reputation and sustained superior financial performance

Good corporate reputations are critical because of their potential for value creation, but also because their intangible character makes replication by competing firms considerably more difficult. Existing empirical research confirms that there is a positive relationship between reputation and financial performance. This paper complements these findings by showing that firms with relatively good reputations are better able to sustain superior profit outcomes over time. In particular, we undertake an analysis of the relationship between corporate reputation and the dynamics of financial performance using two complementary dynamic models. We also decompose overall reputation into a component that is predicted by previous financial performance, and that which is ‘left over’, and find that each (orthogonal) element supports the persistence of above‐average profits over time. Copyright © 2002 John Wiley & Sons, Ltd.     

网络组织成员合作的声誉模型分析

本文分析了网络组织成员合作稳定的意义与影响因素。在Vickers和Barro分别对Kreps的声誉模型简化处理后的模型基础上，从网络组织成员之间合作的博弈关系角度，构建了成员的声誉模型——一个单边非完全信息动态博弈模型，分析了声誉对网络组织成员的激励效应，以及声誉与网络组织治理绩效之间的关系。本文的基本结论：在有利于经济连续稳定的合作环境中，声誉效应是网络组织成员合作的重要激励机制，在声誉效应的激励机制下，成员之间合作是有效率的。应用本文模型所给出的分析方法与结论，对我国企业网络组织成员存在的机会主义等问题，给出了作者自己的解释，对声誉机制发挥作用的条件提出建议。     

企业社会责任、社会资本与组织竞争优势:一个战略互动视角——基于中国转型期经验的实证研究

本文融合社会资本理论,构建了转型经济中企业社会责任影响组织竞争优势的理论框架,并运用151家中国企业的调查数据进行了实证检验。结果发现:企业社会责任与经济绩效之间不存在相关性,但与组织声誉正向相关,社会资本会明显强化企业社会责任的声誉效应。具体而言,等级制社会资本会显著促进企业社会责任与组织声誉的相关关系,而市场社会资本则限制了企业社会责任对组织声誉的贡献。本文从研究方法的跨层次风险、资源依赖的动态性和整合能力等方面进行了应用性的讨论,建议中国企业用基于社会资本的战略性社会责任超越慈善导向的社会责任,通过这种战略转型积聚组织竞争优势。     

Information value and externalities in reputation building

In sequential equilibrium theory, reputation building is independent of whether the reputation builder is matched with one long-run partner or a series of short-run “strangers”. We observe, however, that reputation builders are significantly more challenged by long-run players in both laboratory chain store and buyer-seller games. Reputation builder behavior is more predictable than implied by equilibrium, and so reputation information has more economic value than implied by equilibrium. For short-run players, this reputation information value is an externality. For long-run players, the value of the information is internalized and so they have greater incentive to challenge the reputation builder.     

Is perceived value more than value for money in professional business services?

It is well documented in the literature that customer perceived value plays an important role in understanding behavioral outcomes of business customers. However, most business-to-business research has focused on the functional dimension of perceived value, while consumer research has already advanced to a multidimensional value conceptualization. This study expands the concept of perceived value in the professional business services context to functional, emotional, and social perceived value. Based on signaling theory, we conceptualize and empirically support links between the three dimensions of perceived value and its antecedents (perceived corporate reputation, perceived corporate credibility, and perceived relationship quality) and outcomes (satisfaction and loyalty). The results of a survey involving 228 business clients reveal differences in links between value antecedents and the three perceived value dimensions: while perceived corporate credibility and relationship quality impact all dimensions, perceived corporate reputation impacts only perceived emotional value. Results of our study help in understanding how satisfaction and loyalty are viewed as perceived value outcomes; apart from functional value, emotional and social values play a significant role in the satisfaction and loyalty of professional business services clients.     

Nonfinancial Considerations in Eco-Innovation Decisions: The Role of Family Ownership and Reputation Concerns

Societal pressures for greater sustainability can encourage firms to target part of their innovation activities at ecological initiatives (i.e., eco-innovation). Yet, depending on their value function, firms can respond differently to such pressures and exhibit variance in their eco-innovation activities. In this paper, we investigate the idea that a firm’s ownership structure may play a significant role in determining its engagement in eco-innovation. Specifically, we propose that ownership by family blockholders increases the value attached to the company’s reputation and that this, in turn, stimulates higher levels of eco-innovation. In other words, we model the company reputation motive as a key mediator in the relationship between family ownership and firm-level eco-innovation. To account for family firm heterogeneity, we also model the moderating role of owners’ intention to pass the business on to the next family generation (transgenerational intentions) and of the extent to which these owners reside in the firm’s local community (local embeddedness). As theoretical backdrop, our study builds on institutional theory and the mixed gamble logic. To test our hypotheses, we use a large sample of German firms and nonlinear moderated mediation regression analysis. Results reveal that family ownership is positively related to the introduction of eco-innovations by firms, in part because of the stronger emphasis being placed on the company’s reputation. We find that this effect is strongest when the owning-family has transgenerational intentions. As such, this study advances our understanding of firm-level drivers of eco-innovation. In view of the prevalence of family-owned firms and the mounting importance of ecological sustainability, it is valuable to extend knowledge on the contingent and indirect effect of family ownership on eco-innovation.     

The power of emotional value: Moderating customer orientation effect in professional business services relationships

Just recently, the literature has established the existence of a dark side with regard to customer orientation (CO) in terms of sales performance. However, no clear position is presented about the possible dark side of CO when it comes to B2B relational outcomes, preventing managers from knowing when to accentuate/suppress CO activities. The aim of this study is to examine the relational consequences of suppliers' CO seen through the customers' lenses, and to investigate the moderating role of perceived emotional value in a professional service relationship context. A conceptual model anchored in value and relationship marketing theories is tested on a sample of 226 professional service firms' business customers, using the PROCESS routine. The study finds that perceived CO is related to satisfaction with the relationship and with relationship performance in an inverted U-shaped form, while satisfaction is positively related to relationship performance. We show that, although preferring to receive CO from their supplier, customers might want a relationship that is not as intense/comprehensive as the one that the supplier aims to achieve. The study unfolds emotional value as a moderating mechanism that can prevent the diminishing effect of CO activities.