Brand Equity and Share Value: The Moderating Impact of Managerial Ability
Sammanfattning: This study investigates the value relevance of brand value estimates provided by Interbrand Ltd. in their Best Global Brands list over the years 2000 to 2016 and the moderating impact of managerial ability on this relationship. With a focus on listed firms in the United States and a quantitative approach, we find these estimates to be of great value relevance and provide value relevant information not reflected in the book value of equity or net income of a firm. This finding is in line with previous research in the area. Using a recently developed measure of managerial ability by Demerjian, Lev and McVay (2012), we are able to document initial evidence of a moderating impact on this relationship. This result is subject to statistical challenge, why we call for others to replicate our result.
HÄR KAN DU HÄMTA UPPSATSEN I FULLTEXT. (följ länken till nästa sida)