Corporate governance and brand value

Abstract

Corporate governance became a crucial issue for both business and academic world as a result of world-wide financial scandals; hence many studies were conducted about it. As distinct from the others, this study aims to determine whether there is a relation between the corporate governance sub-scores (shareholders score, stakeholders score, public disclosure and transparency score and board of directors score) of the firms and firms’ brand values by using panel data analysis for the period 2011-2015. We focus on the nexus between corporate governance and brand value while most of the previous studies investigated the impact of corporate governance on firm performance. Contrary to expectations, our results surprisingly indicate that there is a statistically insignificant relationship between corporate governance rating scores and brand values.