The effect of the corporate reputation on the market value of firms: A study on the top eight Philippine companies listed in the Wall street journal Asia's Asia 200: Asia's most admired companies (2006-2010)

Date of Publication


Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions


Ramon V. Del Rosario College of Business


Financial Management Department

Thesis Adviser

Junette Perez

Defense Panel Member

Patrick Caoile

Merriam Tanco

Michael Tanco


Corporate reputation is slowly becoming a subject of interest in terms of value creation. Nevertheless, most of these studies are focused on developed economies. This research is the first to obtain findings regarding the effect of the nonfinancial component of corporate reputation on market value in the Philippine setting. The determinants of firm reputation score, namely return on assets, market-to-book value, company size, debt-to-equity ratio, and net income growth, are also investigated using Brown and Perry (1994) financial halo control model. Regression results suggest that company size and debt-to-equity ratio play a significant role in the corporate reputation score. The study is constrained in terms of the length of time covered, which is from 2006 to 2010 only, because of the limitations in corporate reputation data available in the Philippines, specifically in the scope in period of the Asian wall street journal Asia 200: Asia's most admired companies. The sample in the study includes eight publicly-listed companies from the Asia 200 top ten companies in the Philippines. Using the modified Ohlson (1995) model, the findings in this research show that the nonfinancial component of corporate reputation has an effect on market value, supporting existing literature on corporate reputation.

Abstract Format






Accession Number


Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

v, 162 leaves : illustrations (some color) ; 28 cm.


Financial institutions--Philippines; Corporate image--Philippines

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