Country Reputation and Corporate Activity

M. I. Canayaz thanks BAV Consulting for sharing data on image attributes and Alexander Puutio and United Nations Economic and Social Commission for Asia and the Pacific for sharing data on bilateral trade agreements. The authors thank Ali Akyol, Andy Call, Qiang Cheng, Sergey Chernenko, Jess Cornaggia, Kimberly Cornaggia, Viktar Fedaseyeu (discussant), Umit Gurun, Matthew Gustafson, Edith Hotchkiss (discussant), Byoung-Hyoun Hwang, Michael Jetter, Bin Ke, Jungmin Kim, Nico Lehman, Baixiao Liu (discussant), Lakshmanan Shivakumar, Hanwen Sun (discussant), Irem Tuna, Laurence van Lent, Jun Yang (discussant), Yachang Zeng, Stefan Zeume, Huai Zhang, and participants at 2018 Finance Day at Koc University, 13th International Conference on Asia-Pacific Financial Markets, Fourth Annual Volatility Institute at NYU Shanghai (VINS) Conference, Midwest Finance Association 2019 Annual Meeting in Chicago, Eastern Finance Association 2019 Annual Meeting, Finance Down Under 2019 Conference, 5th China Europe International Business School Finance and Accounting Symposium, Oxford Reputation Symposium 2019, SMU-NUS-NTU Accounting Research Conference, 2019 CMU-PITT-PSU Finance Conference, University of Goettingen, 2019 Chinese International Finance Conference (CICF), and 2019 American Accounting Association (AAA) Annual Meeting for insightful comments. The authors also thank Steven Skiena and Junting Ye for providing access to their NamePrism script, Yanlin Fan for excellent research assistance, and several country reputation agencies for participating in our surveys.