Corporate reputation, ownership structure and market value in the banking sector in Poland

Anna Blajer-Gołębiewska

Abstract

The aim of this study was to identify an impact of corporate reputation, ownership structure and selected financial characteristics on the market value of companies in the banking sector in Poland. On the basis of a panel data model with random individual effects and fixed time effects, we found that the main factor enhancing market value is return on equity. Other statistically significant determinants of market valuation were: percentage of shares possessed by institutional shareholders, the fact that a company is paying dividends, and the size of a company. We applied two proxies for corporate reputation: points achieved in the ranking of Responsible Businesses and inclusion into the RESPECT Index. None of them was found to be a significant predictor of market valuation of firms from the banking sector in Poland.
Author Anna Blajer-Gołębiewska (FE / DMicro)
Anna Blajer-Gołębiewska,,
- Department of Microeconomics
Pages62-69
Publication size in sheets0.5
Book Čulík Miroslav (eds.): Financial management of firms and financial institutions : 11th International Scientific Conference 6th - 7th September 2017, Ostrava, Czech Republic : proceedings (pt. 1), 2017, Faculty of Economics. VŠB-Technical University of Ostrava, ISBN 978-80-248-4138-0, [978-80-248-4139-7], 319 p.
Keywords in Englishcorporate reputation, ownership structure, institutional investors, market value, financial markets
URL https://www.ekf.vsb.cz/export/sites/ekf/frpfi/cs/sbornik_prispevku/soubory/Part_I_final.pdf
Languageen angielski
Score (nominal)15
ScoreMinisterial score = 15.0, BookChapterMatConfByIndicator
Ministerial score (2013-2016) = 15.0, BookChapterMatConfByIndicator
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