Do greater growth pressures on high-reputation firms, as well as their desire to maintain their reputations, influence their acquisition behaviors? New research finds that high-reputation firms make approximately twice as many acquisitions in an average year than other comparable firms.
The study also revealed that, relative to their current portfolio of businesses, high-reputation firms made more unrelated acquisitions than other firms. Perhaps surprisingly, investors responded more negatively to the acquisition announcements of high-reputation firms than to other firms.High-reputation firms are recognized for consistently meeting and even exceeding stakeholders’ expectations.
His research focuses on firm reputation and celebrity, impression and crisis management, media and corporate communications, and the role of business in society.is an Assistant Professor and Spears Fellow in the Spears School of Business at Oklahoma State University. He earned his Ph.D. from the University of Georgia. His research examines the intersection of firm perceptions, impression management, and strategic decisions, including mergers and acquisitions.
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