The effect of the CEO media coverage on corporate brand equity: evidence from Poland
DOI:
https://doi.org/10.24136/oc.2021.017Keywords:
corporate brand, corporate brand equity, CEO brand, personal brandAbstract
Research background: Despite increased attention in the literature to the importance of the CEO?s brand for companies, understanding of the effect of the CEO brand on the corporate brand remains limited. To contribute to this discussion, this paper investigates different facets of the impact of the CEO brand, and particularly its media coverage, on corporate brand equity.
Purpose of the article: This study investigates the relationship between the different aspects of the CEO brand?s media coverage and corporate brand equity.
Methods: Comprehensive media monitoring in the press and online sourcing of CEOs from the strongest Polish brands were conducted. For three years (2014?2017), media monitoring covered 81 CEOs, resulting in over 44,000 data points for this study. Regression analysis was conducted to determine whether a relationship exists between different facets of the CEO?s personal brand and company brand equity.
Findings & value added: This study provides a new perspective on the relationship between the CEO and corporate brands and showcases empirical evidence of the CEO brand?s relationship with corporate brand equity. It introduces two relevant and novel variables (CEO brand reach and CEO brand advertising value equivalent [AVE]) to the literature, which have been limited to the number of mentions and its sentiment. Accordingly, this study contributes to the emerging literature of CEO branding within the branding field. Contrary to expectation, the intensity of media coverage alone was not significant. Results indicate that reach and AVE of CEO media exposure are reflected in the corporate brand equity. The study also finds that negative sentiment toward a CEO?s brand negatively affects corporate brand equity. The study adds to the growing stream of literature on the role of CEO brand.
Downloads
References
Anderson, D., Sweeney, D., & Williams, T. (2011). Statistics for business and economics. Cincinnati: South-Western.
View in Google Scholar
Argenti, P. A., & Druckenmiller, B. (2004). Reputation and the corporate brand. Corporate Reputation Review, 6(1), 368?374. doi: 10.1057/palgrace.crr.15400 05.
DOI: https://doi.org/10.1057/palgrave.crr.1540005
View in Google Scholar
Bendisch, F., Larsen, G., & Trueman, M. (2013). Fame and fortune: a conceptual model of CEO brands. European Journal of Marketing, 47(3-4), 596?614. doi: 10.1108/03090561311297472.
DOI: https://doi.org/10.1108/03090561311297472
View in Google Scholar
Bennett, A. G. (2009). The big book of marketing. New York: McGraw-Hill
View in Google Scholar
Brems, C., Temmerman, M., Graham T., & Broersman, M. (2017). Personal branding on twitter. How employed and freelance journalists stage themselves on social media. Digital Journalism, 4(3), 443?459. doi: 10.1080/21670811.2016. 1176534.
DOI: https://doi.org/10.1080/21670811.2016.1176534
View in Google Scholar
Burson-Marsteller (2005). CEO Reputation studies 2006. Frankfurt am Main: Burson-Marsteller.
View in Google Scholar
Carter, S. M. (2006). The interaction of top management group, stakeholder, and situational factors on certain corporate reputation management activities. Journal of Management Studies, 43(1), 1145?1176. doi: 10.1111/j.1467-6486.2006 .00632.x.
DOI: https://doi.org/10.1111/j.1467-6486.2006.00632.x
View in Google Scholar
Chen, C., Yi, B., & Lin, J. (2013). Media coverage, board structure and CEO compensation: evidence from Taiwan. Journal of Multinational Financial Management, 23(5), 435?445. doi: 10.1016/j.mulfin.2013.08.003.
DOI: https://doi.org/10.1016/j.mulfin.2013.08.003
View in Google Scholar
Chin, W. W. (1998). Modern methods for business research. In W. Chin & G. Moucoulides (Eds.). The partial least squares approach to structural equation modeling. New Jersey: Lawrence Erlbaum Associates, 259?336.
View in Google Scholar
Close, A., Moulard, G., & Monroe, K. (2011). Establishing human brands: determinants of placement success for first faculty positions in marketing. Academy of Marketing Science, 39(1), 9220 941. doi: 10.1007/s11747-010-0221-6.
DOI: https://doi.org/10.1007/s11747-010-0221-6
View in Google Scholar
Cohen, J., Cohen P., Leona, S., & West, S. (2003), Applied multiple regression/correlation analysis for the behavioral sciences. Hillsdale: L. Erlbaum Associates.
View in Google Scholar
D?Andrea, A., Ferri, F., Grifoni, P., & Guzzo, T. (2015). Approaches, tools and applications for sentiment analysis implementation. International Journal of Computer Applications, 125(3), 26?33. doi: 10.5120/ijca2015905866.
DOI: https://doi.org/10.5120/ijca2015905866
View in Google Scholar
Delgado-Garcia, J., Quevedo-Puente, E., & Blanco-Mazagatos, V. (2015). How does CEO reputational matter? Impact of CEO reputation on corporate reputation and performance. In M. Fetscherin (Ed.). CEO branding. London: Routledge. 112?136.
View in Google Scholar
Fetscherin, M. (2015). How does CEO reputation Matter? Impact of CEO reputation on corporate reputation and performance. In M. Fetscherin (Ed.). CEO Branding. London: Routledge, 1?24.
DOI: https://doi.org/10.4324/9781315795140
View in Google Scholar
Fournier, S., & Eckhardt, G. M. (2019). Putting the person back in person- brand: understanding and managing the two- bodied brand. Journal of Marketing Research, 56(4), 118?134. doi: 10.1177/0022243719830654.
DOI: https://doi.org/10.1177/0022243719830654
View in Google Scholar
Freedman, D. A. (2009). Statistical models: theory and practice. Cambridge: Cambridge University Press.
DOI: https://doi.org/10.1017/CBO9780511815867
View in Google Scholar
Ganushchak-Efimenko, L., Shcherbak, V., & Nifatova, O. (2018). Assessing the effects of socially responsible strategic partnership on building brand equity of integrated business structures in Ukraine. Oeconomia Copernicana, 9(4), 140?151. doi: 10.21511/bbs.14(3).2019.12.
DOI: https://doi.org/10.24136/oc.2018.035
View in Google Scholar
Górska, A. (2016). Personal branding through LinkedIn. In G. Mazurek & J. Tkaczyk (Eds). The impact of the digital world on management and marketing. Warsaw: Poltext, 72?89.
View in Google Scholar
Górska, A. (2017). Perception of women in top managerial positions in Poland. Journal of Business and Administration. Central Europe, 25(1). 16?32. doi: 10.7206/jmba.ce.2450-7814.187.
DOI: https://doi.org/10.7206/jmba.ce.2450-7814.187
View in Google Scholar
Górska, A. (2021). The future of idealized self: how CEOs build their personal brands? Central European Management Journal, 29(1), 39?60. doi: 10.7206/ cemj.2658-0845.40.
DOI: https://doi.org/10.7206/cemj.2658-0845.40
View in Google Scholar
Hughes, M. (2007). The tools and technique of change management. Journal of Change Management, 7(1), 37?49. doi: 10.1080/14697010701309435.
DOI: https://doi.org/10.1080/14697010701309435
View in Google Scholar
Ingenhoff, D., & Sommer, K. (2010). Trust in companies and in Ceos: a comparative study of the main influences. Journal of Business Ethics, 95(1), 339?355. doi: 10.1007/s10551-010-0363-y.
DOI: https://doi.org/10.1007/s10551-010-0363-y
View in Google Scholar
Jacobson, J. (2020). You are a brand: social media managers and personal branding. Journal of Product and Brand Management, 29(6), 715?727. doi: 10.1108/ JPBM-03-2019-2299.
DOI: https://doi.org/10.1108/JPBM-03-2019-2299
View in Google Scholar
Janoskova, K., & Krizanova, A. (2017). Comparison of selected internationally recognized brand valuation methods. Oeconomia Copernicana, 8(1), 99?117. doi: 10.24136/oc.v8i1.7.
DOI: https://doi.org/10.24136/oc.v8i1.7
View in Google Scholar
Jin, C. H., & Yeo, H. C., (2011). Satisfaction, corporate credibility, CEO reputation and leadership effects on public relationships. Journal of Targeting, Measurement and Analysis for Marketing, 9(19), 179?197. doi: 10.1057/jt.2011.10.
DOI: https://doi.org/10.1057/jt.2011.10
View in Google Scholar
Kalia, V., Patel. A., Moriarity, A., & Canon, C. (2017). Personal branding: a primer for radiology trainees and radiologists. Journal of the American College of Radiology, 4(4), 971?975. doi: 10.1016/j.jacr.2017.03.017.
DOI: https://doi.org/10.1016/j.jacr.2017.03.017
View in Google Scholar
Karaduman, I. (2013). The effect of social media on personal branding efforts of top-level executives. Procedia-Social and Behavioral Sciences, 99(1), 465?473. doi: 10.1016/j.sbspro.2013.10.515.
DOI: https://doi.org/10.1016/j.sbspro.2013.10.515
View in Google Scholar
Kee, C., & Hassan, M. (2006). The advertising-value-equivalent (AVE) method in quantifying economic values of publish relations activities: experience of a public-listed company in Malaysia. Kaljan Malaysia, 24(1), 33?55.
View in Google Scholar
Keller, K. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing, 57(1), 1?22. doi: 10.2307/1252054.
DOI: https://doi.org/10.1177/002224299305700101
View in Google Scholar
Kenny, D. (1987). Statistics for the social and behavioral sciences. Boston: Little, Brown.
View in Google Scholar
Kubowicz- Malhotra, C., & Malhotra, A., (2016). How CEOs can leverage Twitter. MIT Sloan Management Review, 57(1), 73?82.
View in Google Scholar
Kucharska, W., Confente, I., & Brunetti, F. (2020). The power of personal brand authenticity and identification: top celebrity players? contribution to loyalty towards football. Journal of Product and Brand Management, 29(6), 1?41. doi: /10.1108/JPBM-02-2019-2241.
DOI: https://doi.org/10.1108/JPBM-02-2019-2241
View in Google Scholar
Kucharska, W., & Mikołajczak, P. (2017). Personal branding of artists and art-designers: necessity or desire? Journal of Product And Brand Management, 27(3), 246?261. doi: 10.1108/JPBM-01-2017-1391.
DOI: https://doi.org/10.1108/JPBM-01-2017-1391
View in Google Scholar
Kutner, M. H., Nachtsheim, C. J., & Neter, J. (2004). Applied linear regression models. New York City: McGraw-Hill Irwin.
View in Google Scholar
Labrecque, L. I., Markos, E., & Milne, G. R (2011). Online personal branding: processes, challenges and implications. Journal of Interactive Marketing, 25(1), 37?50. doi: 10.1016/J.Intmar.2010.09.002.
DOI: https://doi.org/10.1016/j.intmar.2010.09.002
View in Google Scholar
Li, X., Qiao, P., & Zhao, L. (2019). CEO media exposure, political connection and Chinese firms? stock price synchronicity. International Review of Economics And Finance, 63(6), 61?75. doi: 10.1016/J.Iref.2018.08.006.
DOI: https://doi.org/10.1016/j.iref.2018.08.006
View in Google Scholar
Luo, X, Kanuri, V., & Andrews, M (2014). How does CEO tenure matter? The mediating role of firm-employee and firm-customer relationships. Strategic Management Journal, 35(1), 492?511. doi: 10.1002/Smj.2112.
DOI: https://doi.org/10.1002/smj.2112
View in Google Scholar
Love, E. G., Lim, J., & Bednar, M. K. (2017). The face of the firm: the influence of CEOs on corporate reputation. Academy of Management Journal, 60(1), 1462?1481. doi: 10.5465/Amj.2014.0862.
DOI: https://doi.org/10.5465/amj.2014.0862
View in Google Scholar
Malmendier, U., & Tate, G. (2009). Superstar CEOs. Quarterly Journal Of Economics, 124(1), 1593?1638. doi: 10.1162/Qjec.2009.124.4.1593.
DOI: https://doi.org/10.1162/qjec.2009.124.4.1593
View in Google Scholar
Meng, J., & Berger, B. K. (2013). What they say and what they do: executives affect organizational reputation through effective communication. In C. E. Carroll (Ed.). The handbook of communication and corporate reputation. New Jersey: Wiley.
DOI: https://doi.org/10.1002/9781118335529.ch26
View in Google Scholar
Moulard, J. G, Garrity, C. P., & Rice, D. H. (2015). What makes a human brand authentic? Identifying the antecedent of celebrity authenticity. Psychology and Marketing, 32(2), 173?186. doi: 10.1002/Mar.20771.
DOI: https://doi.org/10.1002/mar.20771
View in Google Scholar
Milbourn, T. T. (2003). CEO reputation and stock-based compensation. Journal of Financial Economics, 68(1), 233?262. doi: 10.1016/S0304-405X(03)00066-7.
DOI: https://doi.org/10.1016/S0304-405X(03)00066-7
View in Google Scholar
Nguyen, B. D. (2015). Is more news good news? Media coverage of Ceos, firm value and rent extraction. Quarterly Journal of Forestry, 5(4), 1?38. doi: 10.11 42/S2010139215500202.
View in Google Scholar
Nolan, L. (2015). The impact of executive personal branding on non-profit perception and communication. Public Relations Review, 41(1), 288?292. doi: 10.1016/J.Pubrev.2014.11.001.
DOI: https://doi.org/10.1016/j.pubrev.2014.11.001
View in Google Scholar
Osorio, M. L, Centeno, E., & Cambra- Fiero, J. (2020). A thematic exploration of human brands: a literature review and agenda for future research. Journal Of Product and Brand Management, 29(6), 695?714. doi: 10.1108/Jpbm-02-2019-2274?Sid=Semanticscholar.
DOI: https://doi.org/10.1108/JPBM-02-2019-2274
View in Google Scholar
Park, D. J., & Berger, B. K., (2004). The presentation of CEOs in the press, 1990-2000: increasing salience, positive valence, and a focus on competency and personal dimensions of image. Journal of Public Relations Research, 1(16), 93?125. doi: 10.1207/S1532754xjprr1601_4.
DOI: https://doi.org/10.1207/s1532754xjprr1601_4
View in Google Scholar
Parmentier, M. A., Fischer, E., & Reuber, A. (2013). Positioning personal brands in established organizational fields. Academy Of Marketing Science, 41(1), 373?387. doi: 10.1007/S11747-012-0309-2.
DOI: https://doi.org/10.1007/s11747-012-0309-2
View in Google Scholar
Peters T. (1997). The brand called you. Fast Company, 10(1). Retrieved from https://www.Fastcompany.Com/28905/Brand-Called-You.
View in Google Scholar
Pharoah, A. (2003). Corporate reputation: the boardroom challenge. Corporate Governance, 3(4), 46?51. doi: 10.1108/14720700310497113.
DOI: https://doi.org/10.1108/14720700310497113
View in Google Scholar
Pluntz, C., & Pras, B. (2020). Exploring professional human brand identity through cultural and social capital: a typology of film director identities. Journal of Marketing Management, 9-10(36), 830?866. doi: 10.1080/0267257X.2020.17 63436.
DOI: https://doi.org/10.1080/0267257X.2020.1763436
View in Google Scholar
Processmacro.Org, Retrieved from: http://Processmacro.Org/Index.Html
View in Google Scholar
Rennebook, L., & Zhao, Y. (2015). CEO networks and the M&A market. In M. Fetscherin (Ed.). CEO branding. London: Routledge.
View in Google Scholar
Rui, J., & Stefanone, M. (2013). Strategic self-presentation online: a cross-cultural study. Computers In Human Behavior, 29(1), 110?118. doi: 10.1016/J.Chb.20 12.07.022.
DOI: https://doi.org/10.1016/j.chb.2012.07.022
View in Google Scholar
Sajnóg, A. R. (2020). Executive compensation and comprehensive income: evidence from Polish listed companies. Oeconomia Copernicana, 10(3), 493? 509. doi: 10.24136/Oc.2019.024.
DOI: https://doi.org/10.24136/oc.2019.024
View in Google Scholar
Scheidt, S., Gelhard, C., Strotzen, J., & Henseler, J. (2018). In for a penny, in for a pound? Exploring mutual endorsement effects between celebrity Ceos and corporate brands. Journal of Product and Brand Management, 27(2), 2265?2276. doi: 10.1016/J.Clinthera.2016.09.001.
DOI: https://doi.org/10.1108/JPBM-07-2016-1265
View in Google Scholar
Sheather, S. (2009). A modern approach to regression with R. New York City: Springer.
DOI: https://doi.org/10.1007/978-0-387-09608-7
View in Google Scholar
Spears, N., Brown, T .J., & Dacin, P. A. (2006). Assessing the corporate brand: the unique corporate association valence (UCAV) approach. Journal of Brand Management, 14(1), 5?19. doi: 10.1057/Palgrave.Bm.2550051.
DOI: https://doi.org/10.1057/palgrave.bm.2550051
View in Google Scholar
Thomas, A., Litschert, R., & Ramaswamy, K. (1991). The performance impact of strategy- manager coalignment: an empirical examination. Strategic Management Journal, 12(1), 509?522.
DOI: https://doi.org/10.1002/smj.4250120704
View in Google Scholar
Tickle, P., Keller, K. L., & Richey, K. (2003). Branding in high-technology markets. Market Leader, 22(1), 21?26.
View in Google Scholar
Weng, P. S., & Chen, W. Y. (2017). Doing good or choosing well? Corporate reputation, CEO reputation, and corporate financial performance. North American Journal of Economics and Finance, 39(1), 223?240. doi: 10.1016/J.Najef.2016 .10.008.
DOI: https://doi.org/10.1016/j.najef.2016.10.008
View in Google Scholar
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2021 Oeconomia Copernicana
This work is licensed under a Creative Commons Attribution 4.0 International License.
