Country Reputation and Corporate Activity

Published Online:https://doi.org/10.1287/mnsc.2023.4753

References

  • Abadie A, Gardeazabal J (2003) The economic costs of conflict: A case study of the Basque country. Amer. Econom. Rev. 93:113–132.CrossrefGoogle Scholar
  • Abadie A, Gardeazabal J (2008) Terrorism and the world economy. Eur. Econom. Rev. 52:1–27.CrossrefGoogle Scholar
  • Ahern KR (2018) The importance of psychology in economic activity: Evidence from terrorist attacks. NBER Working Paper No. 24331, National Bureau of Economic Research, Cambridge, MA.Google Scholar
  • Ahern KR, Daminelli D, Fracassi C (2015) Lost in translation? The effect of cultural values on mergers around the world. J. Financial Econom. 117(1):165–189.CrossrefGoogle Scholar
  • Armington PS (1969) A theory of demand for products distinguished by place of production. Staff Paper Internat. Monetary Fund 16:159–178.CrossrefGoogle Scholar
  • Armour J, Mayer C, Polo A (2017) Regulatory sanctions and reputational damage in financial markets. J. Financial Quant. Anal. 52:1429–1448.CrossrefGoogle Scholar
  • Bagwell K, Staiger RW (1989) The role of export subsidies when product quality is unknown. J. Internat. Econom. 27:69–89.CrossrefGoogle Scholar
  • Balabanis G, Diamantopoulos A (2011) Gains and losses from the misperception of brand origin: The role of brand strength and country-of-origin image. J. Internat. Marketing 19(2):95–116.CrossrefGoogle Scholar
  • Baloria VP, Heese J (2018) The effects of media slant on firm behavior. J. Financial Econom. 129:184–202.CrossrefGoogle Scholar
  • Bandyopadhyay S, Sandler T, Younas J (2018) Trade and terrorism: A disaggregated approach. J. Peace Res. 55(5):656–670.Google Scholar
  • Bao Y, Shao AT, Rivers D (2008) Creating new brand names: Effects of relevance, connotation, and pronunciation. J. Advertising Res. 48(1):148–162.CrossrefGoogle Scholar
  • Bar-Isaac H (2003) Reputation and survival: Learning in a dynamic signaling model. Rev. Econom. Stud. 70:231–251.CrossrefGoogle Scholar
  • Barth ME, Clement MB, Foster G, Kasznik R (1998) Brand values and capital market valuation. Rev. Accounting Stud. 3(1–2):41–68.CrossrefGoogle Scholar
  • Becker G, Murphy KM (2001) Prosperity will rise out of the ashes. Wall Street Journal (October 29), https://www.wsj.com/articles/SB100430580598371160.Google Scholar
  • Belenzon S, Chatterji AK, Daley B (2017) Eponymous entrepreneurs. Amer. Econom. Rev. 107(6):1638–1655.CrossrefGoogle Scholar
  • Belo F, Vitorino MA, Lin X (2014) Brand capital and firm value. Rev. Econom. Dynamics 17:150–169.CrossrefGoogle Scholar
  • Bennedsen M, Zeume S (2018) Corporate tax havens and transparency. Rev. Financial Stud. 31:1221–1264.CrossrefGoogle Scholar
  • Bertrand M, Mullainathan S (2003) Enjoying the quiet life? Corporate governance and managerial preferences. J. Political Econom. 111(5):1043–1075.CrossrefGoogle Scholar
  • Besley T, Case A (2000) Unnatural experiments? Estimating the incidence of endogenous policies. Econom. J. (London) 110:F672–F694.Google Scholar
  • Besley T, Ghatak M (2001) Government vs. private ownership of public goods. Quart. J. Econom. 116(4):1343–1377.CrossrefGoogle Scholar
  • Besley T, Mueller H (2012) Estimating the peace dividend: The impact of violence on house prices in Northern Ireland. Amer. Econom. Rev. 102:810–833.CrossrefGoogle Scholar
  • Bilkey WJ, Nes E (1982) Country-of-origin effects on product evaluations. J. Internat. Bus. Stud. 13:89–100.CrossrefGoogle Scholar
  • Blomberg SB, Hess GD, Orphanides A (2004) The macroeconomic consequences of terrorism. J. Monetary Econom. 51:1007–1032.CrossrefGoogle Scholar
  • Bordalo P, Coffman K, Gennaioli N, Shleifer A (2016) Stereotypes. Quart. J. Econom. 131:1753–1794.CrossrefGoogle Scholar
  • Bottazzi L, Rin MD, Hellmann T (2016) The importance of trust for investment: Evidence from venture capital. Rev. Financial Stud. 29(9):2283–2318.Google Scholar
  • Boulianne S, Minaker J, Haney TJ (2018) Does compassion go viral? Social media, caring, and the Fort McMurray wildfire. Inform. Comm. Soc. 21(5):697–711.CrossrefGoogle Scholar
  • Bronnenberg BJ, Dhar SK, Dubé J-PH (2007) Consumer packaged goods in the United States nation brands local branding. J. Marketing Res. XLIV:4–13.CrossrefGoogle Scholar
  • Bronnenberg BJ, Dhar SK, Dubé J-PH (2009) Brand history, geography, and the persistence of brand shares. J. Political Econom. 117:87–115.CrossrefGoogle Scholar
  • Bronnenberg BJ, Dubé JPH, Gentzkow M (2012) The evolution of brand preferences: Evidence from consumer migration. Amer. Econom. Rev. 102(6):2472–2508.CrossrefGoogle Scholar
  • Butler JV, Giuliano P, Guiso L (2016) The right amount of trust. J. Eur. Econom. Assoc. 14:1155–1180.Google Scholar
  • Cagé J, Rouzet D (2015) Improving ‘national brands’: Reputation for quality and export promotion strategies. J. Internat. Econom. 95:274–290.CrossrefGoogle Scholar
  • Chamberlin E (1933) The Theory of Monopolistic Competition (Harvard University Press, Cambridge, MA).Google Scholar
  • Chemmanur T, Yan A (2009) Product market advertising and new equity issues. J. Financial Econom. 92(1):40–65.CrossrefGoogle Scholar
  • Chermak SM, Gruenewald J (2006) The media’s coverage of domestic terrorism. Justice Quart. 23:428–461.CrossrefGoogle Scholar
  • Chisik R (2003) Export industry policy and reputational comparative advantage. J. Internat. Econom. 59:423–451.CrossrefGoogle Scholar
  • Choi JP (1998) Brand extension as informational leverage. Rev. Econom. Stud. 65:655–669.CrossrefGoogle Scholar
  • Cohen L, Coval J, Malloy C (2011) Do powerful politicians cause corporate downsizing? J. Political Econom. 199:1015–1060.CrossrefGoogle Scholar
  • Cole DD (2010) Terror financing, guilt by association and the paradigm of prevention in the ‘war on terror’. Bianchi A, Keller A, eds. Counterterrorism: Democracy’s Challenge (Hart Publishing, London).Google Scholar
  • Collier P, Hoeffler A (2004) Greed and grievance in Civil War. Oxford Econom. Papers 56(4):563–595.CrossrefGoogle Scholar
  • Cooper MJ, Dimitrov O, Rau R (2001) A rose.com by any other name. J. Finance 56(6):2371–2388.CrossrefGoogle Scholar
  • Cooper MJ, Gulen H, Rau R (2005) Changing names with style: Mutual fund name changes and their effects on fund flows. J. Finance 60(6):2825–2858.CrossrefGoogle Scholar
  • Corey ER (1991) Industrial Marketing Cases and Concepts (Prentice Hall, Englewood Cliffs, NJ).Google Scholar
  • DellaVigna S, Enikolopov R, Vera Mironova MP, Zhuravskaya E (2014) Cross-border media and nationalism: Evidence from Serbian Radio in Croatia. Amer. Econom. J. Appl. Econom. 6:103–132.CrossrefGoogle Scholar
  • Denis DJ, Denis DK, Yost K (2002) Global diversification, industrial diversification, and firm value. J. Finance 57(5):1951–1979.CrossrefGoogle Scholar
  • Diamond D (1989) Reputation acquisition in debt markets. J. Political Econom. 97(4):828–862.CrossrefGoogle Scholar
  • Dichev ID, Graham JR, Harvey CR, Rajgopal S (2013) Earnings quality: Evidence from the field. J. Accounting Econom. 56(2–3):1–33.CrossrefGoogle Scholar
  • Dinc S, Erel I (2013) Economic nationalism in mergers & acquisitions. J. Finance 68:2471–2514.CrossrefGoogle Scholar
  • Dixit AK, Pindyck RS (1994) Investment Under Uncertainty (Princeton University Press, Princeton, NJ).CrossrefGoogle Scholar
  • Ely JC, Valimaki J (2003) Bad reputation. Quart. J. Econom. 118(3):785–814.CrossrefGoogle Scholar
  • Enders W, Sandler T, Parise GF (1992) An econometric analysis of the impact of terrorism on tourism. Kyklos 45:531–554.CrossrefGoogle Scholar
  • Flammer C (2015) Does corporate social responsibility lead to superior financial performance? A regression discontinuity approach. Management Sci. 61:2549–2568.LinkGoogle Scholar
  • Frieder L, Subrahmanyam A (2005) Brand perceptions and the market for common stock. J. Financial Quant. Anal. 40:57–85.CrossrefGoogle Scholar
  • Fudenberg D, Tirole J (1984) The fat-cat effect, the puppy-dog ploy, and the lean and hungry look. Amer. Econom. Rev. 74(2):361–366.Google Scholar
  • Gadarian SK (2010) The politics of threat: How terrorism news shapes foreign policy attitudes. J. Politics 72:469–483.CrossrefGoogle Scholar
  • Gentzkow M, Shapiro JM (2006) Media bias and reputation. J. Political Econom. 114(2):280–316.CrossrefGoogle Scholar
  • Gentzkow M, Shapiro JM (2010) What drives media slant? Evidence from US daily newspapers. Econometrica 78(1):35–71.CrossrefGoogle Scholar
  • Glaeser EL, Shapiro JM (2002) Cities and warfare: The impact of terrorism on urban form. J. Urban Econom. 51:205–224.CrossrefGoogle Scholar
  • Gould ED, Klor E (2010) Does terrorism work? Quart. J. Econom. 125:1459–1510.CrossrefGoogle Scholar
  • Gourio F, Rudanko L (2014) Customer capital. Rev. Econom. Stud. 81:1102–1136.CrossrefGoogle Scholar
  • Graham JR, Harvey CR, Rajgopal S (2005) The economic implications of corporate financial reporting. J. Accounting Econom. 40(1–3):3–73.CrossrefGoogle Scholar
  • Green TC, Jame R (2013) Company name fluency, investor recognition, and firm value. J. Financial Econom. 109:813–834.CrossrefGoogle Scholar
  • Grossman GM, Horn H (1988) Infant-industry protection reconsidered: The case of informational barriers to entry. Quart. J. Econom. 103:767–787.CrossrefGoogle Scholar
  • Grossman SJ, Hart O (1986) The costs and benefits of ownership: A theory of vertical and lateral integration. J. Political Econom. 94:691–719.CrossrefGoogle Scholar
  • Gruen RJ, Mendelsohn G (1986) Emotional responses to affective displays in others: The distinction between empathy and sympathy. J. Personality Soc. Psych. 51(3):609–614.Google Scholar
  • Grullon G, Kanatas G, Weston JP (2004) Advertising, breadth of ownership, and liquidity. Rev. Financial Stud. 17:439–461.CrossrefGoogle Scholar
  • Gupta N, Yu X (2009) Does money follow the flag? Preprint, submitted February 17, https://dx.doi.org/10.2139/ssrn.1316364.Google Scholar
  • Gürhan-Canli Z, Maheswaran D (2000) Cultural variations in country of origin effects. J. Marketing Res. 37:309–317.CrossrefGoogle Scholar
  • Harding T, Javorcik BS (2011) Roll out the red carpet and they will come: Investment promotion and FDI inflows. Econom. J. (London) 121(557):1445–1476.Google Scholar
  • Hart O (1995) Firms, Contracts and Financial Structure (Oxford University Press, Oxford, UK).CrossrefGoogle Scholar
  • Hart O, Moore J (1999) Foundations of incomplete contracts. Rev. Econom. Stud. 66:115–138.CrossrefGoogle Scholar
  • Hwang B-H (2011) Country-specific sentiment and security prices. J. Financial Econom. 100:382–401.CrossrefGoogle Scholar
  • Insch GS, McBride BJ (2004) The impact of country-of-origin cues on consumer perceptions of product quality: A binational test of the decomposed country-of-origin construct. J. Bus. Res. 57:256–265.CrossrefGoogle Scholar
  • Jarrell G, Peltzman S (1985) The impact of product recalls on the wealth of sellers. J. Political Econom. 93:512–536.CrossrefGoogle Scholar
  • Jetter M (2017) The effect of media attention on terrorism. J. Public Econom. 153:32–48.CrossrefGoogle Scholar
  • Karpoff JM (2012) Does reputation work to discipline corporate misconduct? Oxford Handbook of Corporate Reputation (Oxford University Press, Oxford, UK).Google Scholar
  • Karpoff JM, Lott JR Jr (1993) The reputational penalty firms bear from committing criminal fraud. J. Law Econom. 36:757–802.CrossrefGoogle Scholar
  • Karpoff JM, Lott JR Jr (1999) On the determinants and importance of punitive damage awards. J. Law Econom. 42:527–573.CrossrefGoogle Scholar
  • Karpoff JM, Lee DS, Martin GS (2008) The cost to firms of cooking the books. J. Financial Quant. Anal. 43:581–611.CrossrefGoogle Scholar
  • Karpoff JM, Lott JR Jr, Wehrly EW (2005) The reputational penalties for environmental violations: Empirical evidence. J. Law Econom. 48:653–675.CrossrefGoogle Scholar
  • Kim H, Kim WG, An JA (2003) The effect of consumer-based brand equity on firms’ financial performance. J. Consumer Marketing 20:335–351.CrossrefGoogle Scholar
  • Klein B, Leffler KB (1981) The Role of market forces in assuring contractual performance. J. Political Econom. 89(4):615–641.CrossrefGoogle Scholar
  • Kotler P, Gertner D (2002) Country as brand, product, and beyond: A place marketing and brand management perspective. Brand Management 9:249–261.CrossrefGoogle Scholar
  • Kreps DM, Wilson R (1982) Reputation and imperfect information. J. Econom. Theory XXVII:253–279.CrossrefGoogle Scholar
  • Kwoka JE (1993) The sales and competitive effects of styling and advertising practices in the U.S. Auto Industry. Rev. Econom. Stud. 75:649–656.CrossrefGoogle Scholar
  • Larkin Y (2013) Brand perception, cash flow stability, and financial policy. J. Financial Econom. 110:232–253.CrossrefGoogle Scholar
  • Lev B (2001) Intangibles: Management. Measurement, and Reporting (Brookings Institution Press).Google Scholar
  • Li X, Ozalp O, Subramanian U (2022) Are we strategically naïve or guided by trust and trustworthiness in cheap-talk communication? Management Sci. 68(1):376–398.Google Scholar
  • Liu B, McConnell J (2013) The role of the media in corporate governance: Do the media influence managers’ capital allocation decisions. J. Financial Econom. 110:1–17.CrossrefGoogle Scholar
  • Mayer T, Zignago S (2005) Notes on CEPII’s distances measures: The GeoDist database. Working paper, Paris.Google Scholar
  • McDevitt RC (2011) Names and reputations: An empirical analysis. Amer. Econom. J. Microeconom. 3(3):193–209.CrossrefGoogle Scholar
  • McDevitt RC (2014) ‘A’ Business by any other name: Firm name choice as a signal of firm quality. J. Political Econom. 122(4):909–944.CrossrefGoogle Scholar
  • Michaels G, Zhi X (2010) Freedom fries. Amer. Econom. J. Appl. Econom. 2(3):256–281.CrossrefGoogle Scholar
  • Miguel E, Satyanath S, Sergenti E (2004) Economic shocks and civil conflict: An instrumental variables approach. J. Political Econom. 112(4):725–753.CrossrefGoogle Scholar
  • Milgrom P, Roberts J (1986) Price and advertising signals of product quality. J. Political Econom. 94(4):796–821.CrossrefGoogle Scholar
  • Milgrom P, Roberts J (1982) Predation, reputation, and entry deterrence. J. Econom. Theory XXVII:280–294.CrossrefGoogle Scholar
  • Mill JS (1848) Principles of Political Economy (JW Parker, London).Google Scholar
  • Mitchell ML, Maloney MT (1989) Crisis in the cockpit? The role of market forces in promoting air travel safety. J. Law Econom. 32:329–355.CrossrefGoogle Scholar
  • Morisset J, Andrews-Johnson K (2004) The Effectiveness of Promotion Agencies at Attracting Foreign Direct Investment, vol. 16 (World Bank Publications, Washington, DC).Google Scholar
  • Morse A, Shive S (2011) Patriotism in your portfolio. J. Financial Markets 14(2):411–440.Google Scholar
  • Murphy DL, Shrieves RE, Tibbs SL (2009) Understanding the penalties associated with corporate misconduct: An empirical examination of earnings and risk. J. Financial Quant. Anal. 44:55–83.CrossrefGoogle Scholar
  • Nacos B (2003) Terrorism as breaking news: Attack on America. Political Sci. Quart. 118:23–52.CrossrefGoogle Scholar
  • Newburry W (2012) Waving the flag: The influence of country of origin on corporate reputation. Pollock TG, Barnett ML, eds. The Oxford Handbook of Corporate Reputation (Oxford University Press, Oxford, UK).Google Scholar
  • Noe T (2012) A survey of the economic theory of reputation: Its logic and limits. Pollock TG, Barnett ML, eds. The Oxford Handbook of Corporate Reputation (Oxford University Press, Oxford, UK).Google Scholar
  • Ozsomer A (2012) The interplay between global and local brands: A closer look at perceived brand globalness and local iconness. J. Internat. Marketing 20(2):72–95.CrossrefGoogle Scholar
  • Riefler P (2020) Local vs. global food consumption: The role of brand authenticity. 37(3):317–327.Google Scholar
  • Rob R, Fishman A (2005) Is bigger better? Customer base expansion through word-of-mouth reputation. J. Political Econom. 113:1146–1162.CrossrefGoogle Scholar
  • Roseman IJ, Wiest C, Swartz TS (1994) Phenomenology, behaviours, and goals differentiate discrete emotions. J. Personality Soc. Psych. 67:206–221.CrossrefGoogle Scholar
  • Salovey P, Rosenhan DL (1989) Mood states and prosocial behavior. Wagner H, Manstead A, eds. Handbook of Social Psychophysiology (John Wiley & Sons, Hoboken, NJ), 371–391.Google Scholar
  • Samiee S, Shimp TA, Sharma S (2005) Brand origin recognition accuracy: Its antecedents and consumers’ cognitive limitations. J. Internat. Bus. Stud. 36(4):379–397.CrossrefGoogle Scholar
  • Servaes H, Tamayo A (2013) The impact of corporate social responsibility on firm value: The role of customer awareness. Management Sci. 59:1045–1061.LinkGoogle Scholar
  • Slone M (2000) Responses to media coverage of terrorism. J. Conflict Resolution 44(4):508–522.CrossrefGoogle Scholar
  • Stahl F, Heitmann M, Lehmann DR, Neslin SA (2012) The impact of brand equity on customer acquisition, retention, and profit margin. J. Marketing 76(4):44–63.CrossrefGoogle Scholar
  • Tadelis P (1999) What’s in a name? Reputation as a tradeable asset. Amer. Econom. Rev. 89(3):548–563.CrossrefGoogle Scholar
  • Tavares J (2004) The open society assesses its enemies: Shocks, disasters and terrorist attacks. J. Monetary Econom. 51:1039–1070.CrossrefGoogle Scholar
  • Tetlock PC (2007) Giving content to investor sentiment: The role of media in the stock market. J. Finance 62:1139–1168.CrossrefGoogle Scholar
  • Tetlock PC (2011) All the news that’s fit to reprint: Do investors react to stale information? Rev. Financial Stud. 24:1481–1512.CrossrefGoogle Scholar
  • Tetlock PC (2015) The role of media in finance. Anderson SP, Waldfogel J, Strömberg D, eds. Handbook of Media Economics (North-Holland, Amsterdam), 701–721.Google Scholar
  • Tetlock PC, Saar-Tsechansky M, Macskassy S (2008) More than words: Quantifying language to measure firms’ fundamentals. J. Finance 63:1437–1467.CrossrefGoogle Scholar
  • Thomas LG (1989) Advertising in consumer goods industries: Durability, economies of scale, and heterogeneity. J. Law Econom. 32:163–193.CrossrefGoogle Scholar
  • Van Heerde HJ, Gijsenberg MJ, Dekimpe MG, Steenkamp J-BEM (2013) Advertising and price effectiveness over the business cycle. J. Marketing Res. 50:177–193.CrossrefGoogle Scholar
  • van Kippersluis H, Rietveld CA (2018) Beyond plausibly exogenous. Econom. J. 21(3):316–331.CrossrefGoogle Scholar
  • Verlegh PW, Steenkamp J-BEM (1999) A review and meta-analysis of country-of-origin research. J. Econom. Psych. 20:521–546.CrossrefGoogle Scholar
  • Walkenhorst P, Dihel N (2002) The impact of the terrorist attacks of 11 September 2001 on international trading and transport activities. Working paper, University Library of Munich, Munich. https://EconPapers.repec.org/RePEc:pra:mprapa:12277.Google Scholar
  • Wang YA, Young M (2020) Terrorist attacks and investor risk preference: Evidence from mutual fund flows. J. Financial Econom. 137(2):491–514.Google Scholar
  • Ye J, Han S, Hu Y, Coskun B, Liu M, Qin H, Skiena S (2017) Nationality Classification Using Name Embeddings (CIKM, Singapore).CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.