2010 - Saïd Business School

ANNUAL REVIEW 2010
OXFORD
UNIVERSITY
CENTRE FOR
CORPORATE
REPUTATION
Saïd Business School
UNIVERSITY OF OXFORD
ANNUAL REVIEW 2010
02
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2010
03
Rupert Younger, Director
CONTENTS
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WELCOME FROM THE DIRECTOR
OUR PEOPLE
RESEARCH AND PROJECTS
CASE STUDIES
REPUTATION SYMPOSIUM 2010
EDUCATION
INTERNATIONAL RESEARCH FELLOWS
VISITING PROFESSOR
VISITING FELLOWS
PRINCIPAL EVENTS 2010
APPENDIX
PUBLICATIONS: JOURNALS; CONFERENCE PAPERS; SEMINARS, WORKSHOPS,
LECTURES AND INVITED PRESENTATIONS; WORKING PAPERS.
Oxford University
Centre for Corporate Reputation
Saïd Business School
Park End Street
Oxford OX1 1HP
United Kingdom
T: +44 (0) 1865 288900
F: +44 (0) 1865 278820
www.sbs.oxford.edu/reputation
WELCOME
Welcome to the 2010 Annual Review. In this, our third year, a set of coherent reputation
themes has emerged and we have stepped up our teaching. In a year when crisis has dominated
the corporate landscape, we have started to become a destination for comment and insight into
damaged reputations and the related issue of reputation recovery.
The highlight of this year’s research calendar
was our first academic symposium in
September when we welcomed many of
the world’s leading scholars in the field of
reputation to Oxford. 35 scholars from the UK,
Europe, Asia and the US spent three days with
us at Jesus College discussing and debating the
concepts of reputation, the strategies employed
to influence it, and its role as a regulatory
mechanism. The papers discussed at the
symposium are being collected together in a
new book – The Oxford University Handbook of
Corporate Reputation – which will be published
by Oxford University Press in 2012. A number
of our distinguished International Research
Fellows also attended the symposium. Their
advice and engagement with us is a major
feature of our success and momentum to date.
We were also delighted to announce the
appointment of Professor David Whetten as
the Centre’s first Visiting Professor. Professor
Whetten, a highly-regarded scholar in the fields
of organisational identity and reputation, is
based at Brigham Young University in Utah. He
will be spending several weeks a year here with
us at Oxford and will be chairing next year’s
reputation symposium. In addition, we made
our first Annual Award for the Best Published
Paper at the symposium to Tillmann Wagner,
Professor of Marketing at Otto Beisheim School
of Management in Germany, who together with
his co-authors, published Corporate Hypocrisy:
Overcoming the Threat of Inconsistent Corporate
Social Responsibility Perceptions, published in
the Journal of Marketing.
The symposium provided a forum for
discussion of the four reputation themes that
we have developed within the Centre. Early
discussions at the symposium and with the
Visiting Fellows, coupled with a rigorous
analysis of the literature, have suggested these
themes as core concepts around which the
study of reputation can be organised.
We have welcomed a number of scholars
to the Centre during the year, and have
received and funded a number of major
research proposals. New research includes
projects on corruption and reputation, the
reputation of the Japanese banking system
and strategy communications and their impact
on reputation.
We have had an active teaching year. Once
again, in June, we hosted a group of senior
executives from major corporations around the
world in an invitation only programme looking
at Reputation and Executive Leadership. In
addition, we have run bespoke programmes
for major corporations and have contributed
reputation modules to the MFE programme and
to Executive Education programmes run at the
Saïd Business School. We are also developing
new teaching case studies, including a series on
extractive industries and reputation.
also delivered Oxford Distinguished Speaker
lectures here at the Saïd Business School,
addressing audiences from the school’s MBA
student body and from the wider Oxford
community. We remain extremely grateful for
their wisdom, engagement and advice.
As the Centre builds its store of knowledge, so
we will be taking a more proactive and engaged
approach to being a market commentator.
During the year, we have been asked to
comment on reputation trends and cases. 2010
saw a series of major corporate crises, and
reputation recovery became a consistent theme
on which we have engaged with news outlets
ranging from TV through to national newspapers
and specialist trade publications. As we
develop our agenda, our research will continue
to be of relevance in helping shape and inform
commentary.
Finally, I am pleased to welcome our new
Deputy Director, Jeni Giambona, who joined
the Centre in September 2010. Jeni brings with
her a wealth of knowledge and skill in managing
research centres and conducting research, thus
strengthening our hard working and dedicated
administrative team.
Rupert Younger
Director
Our Visiting Fellows continued to play
an active role in the life of the Centre,
many of them joining our June Executive
Leadership programme as speakers, sharing
their experiences and expertise with our
participants. Five of our Visiting Fellows
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2010
05
OUR PEOPLE
CENTRE EXECUTIVE
RESEARCH STAFF
Rupert Younger is the Centre’s Director having
devised and led the initiative to create the
Centre over the past 3 years. A co-founder of
financial communications firm Finsbury, he
brings over twenty years of management and
financial reputation expertise to the role.
Dr Liz Dávid-Barrett joined the Centre in
October 2010 as a Research Fellow working
with Dr Christopher McKenna.
Jeni Giambona, whose background is
in higher education, joined the Centre in
September 2010 as Deputy Director.
Emily Baker the Centre Administrator and
PA to the Directors has been working in the
Centre since its formation in 2008.
Julia Banfield became the Centre’s
Publications and Media Editor in 2010.
Dr David Barron, University Reader in
Organisational Sociology, was appointed in
January 2008 as Programme Director for
Reputation and Organisational Behaviour.
Dr Kunal Basu, University Reader in
Marketing, was appointed in January 2008
as Programme Director for Reputation and
Marketing.
Blake Clayton, DPhil student, was awarded a
four year doctoral affiliation with the Centre in
2008, working with Dr David Barron.
Dr William Harvey joined the Centre in 2009
as a Research Fellow working with Professor
Tim Morris.
Dr Christopher McKenna, University Reader
in Business History and Strategy, was
appointed in January 2008 as Programme
Director for Reputation and Strategy.
Professor Tim Morris, Professor of
Management Studies, was appointed in
January 2008 as Programme Director for
Reputation, Organisational Structures and
Governance.
Professor Alan Morrison, Professor of Finance,
was appointed in January 2008 as Programme
Director for Reputation and Finance.
Milena Mueller, DPhil student, was awarded a
four year doctoral affiliation with the Centre in
2008, working with Dr Kunal Basu.
Dr Steve New, University Lecturer in
Operations Management, was appointed in
January 2008 as Programme Director for
Reputation and Operations.
Dr Ken Okamura joined the Centre in
September 2010 as a Researcher working with
Professor Alan Morrison.
Dr Rowena Olegario joined the Centre in
2009 as a Senior Research Fellow and Case
Study Editor.
Andrea Polo, DPhil student, was awarded a
doctoral affiliation with the Centre in 2009,
working with Professor Colin Mayer.
Dr Meredith Rolfe joined the Centre in
October 2008 as a Senior Research Fellow
working with Dr David Barron.
Dr Jonathan Silberstein-Loeb joined the
Centre in October 2008 as a Research Fellow
working with Dr Chris McKenna.
Dr Aaron Thegeya joined the Centre in 2009
as a Research Fellow working with Professor
Alan Morrison.
Dr Basak Yakis-Douglas joined the Centre
in 2009 as a Research Fellow working with
Professor Richard Whittington.
Dr Tamar Yogev joined the Centre in 2009 as
a Research Fellow working with Dr Steve New.
ASSOCIATES
Dr Mark Abrahamson, former Centre
Research Fellow, working with Professor Tim
Jenkinson and Dr Howard Jones, became an
Associate Fellow of Saïd Business School in
December 2009.
Marco Alverà, Executive Vice President for
Russia, North Europe and Americas Region
for Eni, became an Associate Fellow of Saïd
Business School in May 2009.
Professor Thomas Noe, Ernest Butten
Professor of Management Studies, Saïd
Business School and Professorial Fellow
and Director of Management Studies, Balliol
College.
Dr Kasim Randeree, Research Fellow, BT
Centre for Major Programme Management.
Professor David Whetten, Jack Wheatley
Professor of Organizational Studies at Brigham
Young University, became Visiting Professor
at the Oxford University Centre for Corporate
Reputation in September 2010.
Professor Richard Whittington,
Professor of Strategic Management, University
of Oxford.
Basil Towers, Chairman of Hesleden Partners,
became an Associate Fellow of Saïd Business
School in October 2010.
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2010
07
RESEARCH
AND PROJECTS
The Centre’s research team is
involved in multidisciplinary
research into various aspects
of corporate reputation. As
a Centre, we are identifying
common threads within
reputation research over the
last 25 years. The following
themes are emerging:
Reputation is Relational
Corporations do not directly own their
reputations – they are owned by others and
consist of perceptions formed by others.
Reputation is a relational construct that
corporations can influence but not control.
Corporations have
Multiple Reputations
Corporations have a reputation FOR something
WITH someone, and therefore have MULTIPLE
reputations. Furthermore, these reputations
may conflict or contradict each other.
Reputation Signals
have Value
The value of each reputation lies in the signal
that it sends – indicating perceived qualities
about a firm which, in the absence of full and
perfect information, substitute for fact and
deliver value. While reputation spill-over clearly
exists between different reputations, there is
little evidence supporting the existence of a
single overarching measure of reputation.
Reputation is
Intermediated
Reputation is constructed through behaviour
– which directly signals certain qualities
of a corporation – and also through what
intermediaries say about a corporation.
Companies attempt to influence their
reputations through interaction with
intermediaries including the financial and
consumer media, investors and analysts,
celebrities, NGOs and others. The status
and position of these different intermediaries
dictates the impact they have in reputation
formation and destruction.
One of the Centre’s distinctive characteristics
is to approach the study of reputation from
a broad perspective. We have historically
organised our research direction through
six core programme areas, each led by
a senior academic from the University of
Oxford. Strategy is led by Chris McKenna,
University Reader in Business History and
Strategy; Governance is led by Tim Morris,
Professor of Management Studies; Behaviour
is led by David Barron, University Reader in
Organisational Sociology; Marketing is led by
Kunal Basu, University Reader in Marketing;
Operations is led by Steve New, University
Lecturer in Operations Management;
Finance is led by Alan Morrison, Professor of
Finance. During 2010, we created a seventh
programme area focusing specifically on
Reputation Theory which will bring a valuable
strand of theoretical knowledge on reputation
constructs to our research agenda. This
group, led by David Whetten, consists of
international scholars who have been working
in the field of reputation research for many
years, many of whom have been appointed as
International Research Fellows at the Centre.
Their work will complement and inform the six
existing core functional research areas based
inside the Centre.
In the following pages, we describe the
Centre’s specific research projects divided
by themes. Please note that due to their
multidisciplinary nature, some projects
contribute to the development of more than
one theme.
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2010
Professor Thomas H Noe
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Dr Meredith Rolfe
REPUTATION
IS RELATIONAL
Firm Reputation
Formation and
Redemption; Theory and
Experiment
Professor Thomas H Noe, University of
Oxford; Professor Michael J Rebello, School
of Management, University of Texas at Dallas;
Dr Thomas A Rietz, Henry B Tippie College of
Business, University of Iowa
The aim of the project is to both develop and experimentally test
a model of reputation formation when such reputation formation
is undertaken through relational interaction, not by an owner/
manager but by professional managers subject to imperfect
board oversight. We are in the final stages of writing up a first
draft of the theory section of the model and started running the
experiments in December 2010.
Thomas Noe writes: “Incentive compensation
based on financial performance, by itself,
cannot control managerial opportunism and
maintain reputation in a world where firm's
financial statements are verifiable but the
actual actions of managers are not. Reputation
protection requires either (a) some possibility
that professional managers are internally
constrained by ethical norms or (b) some
sort of perhaps partially effective direct
monitoring and supervision by the board. Even
when these conditions are satisfied, revising
compensation plans without structural reform
can never redeem lost reputations. It is hoped
that this work may provide guidelines to the
general structure of control, recruitment, and
compensation plans.”
Reputation and
Relations: the Dynamics
of Reputation Formation
Dr Meredith Rolfe and Dr David Barron, Oxford
University Centre for Corporate Reputation,
Saïd Business School
This project aims to fill two existing gaps in our understanding
of corporate reputation. First, we are investigating how
individuals translate a scattered set of concerns and issues
into a coherent image of a company, and how these individual
perceptions are then translated into a globally shared “corporate
reputation.” Second, our project focuses on a largely overlooked
aspect of reputation: perceived political power and standing in
the public sphere. Using a combination of national surveys and
experimental protocols, we are able to explore these questions
and others.
Meredith Rolfe writes: “We have found that
existing reputation rankings and measures
are not very good at distinguishing the
‘Goliaths’ of the corporate world (financially
successful corporations such as banks and oil
companies who are not viewed as especially
warm or friendly) from the ‘Davids’ (financially
successful companies like Google and Apple
which are viewed as more competent and
warm than the Goliaths). However, we have
found that Goliaths do clearly dominate
Davids on one critical dimension of corporate
reputation: the general public rates them as
deserving of more political influence and input
into public policy. This previously overlooked
political aspect of corporate reputation is likely
to be of considerable practical interest, as will
our work on how corporate reputation on this
dimension is affected by corporate responses
to crisis events.”
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Dr Liz Dávid Barrett
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Milena Mueller
CORPORATIONS
HAVE MULTIPLE
REPUTATIONS
REPUTATION RISK WITHIN
COMPANIES OPERATING
IN CORRUPTION-PRONE
ENVIRONMENTS
Dr Liz Dávid Barrett and Dr Chris McKenna,
Oxford University Centre for Corporate
Reputation, Saïd Business School
This project seeks to understand how companies respond to
the reputational risk posed by operating in corruption-prone
environments. In particular, the project focuses on how
companies are responding to the new Bribery Act in the UK,
which makes them legally liable for the conduct of their agents.
This creates new problems for companies in managing the risks
to their reputations arising from their upstream and downstream
supply chains. Their reputations are formed in an environment
in which they are expected to eschew corruption, but their
businesses depend on agents operating in environments
where bribe-paying is the norm. The project hypothesizes that
companies might respond by increasing vertical integration so
as to improve their capacity to monitor individuals’ conduct
at certain pressure points. Interviews will be conducted with
senior corporate decision-makers to gather data about how they
view these risks and to understand what factors affect their
strategic responses.
Liz Dávid-Barrett writes: “Many companies
are unaware of the risks posed by operating in
corruption-prone environments. These risks
have been amplified by the passage of the
Bribery Act in the UK, but also by increasing
enforcement of anti-bribery legislation around
the world, including in emerging markets.
Risks arise particularly from relationships with
overseas local agents whose behaviour is
difficult to monitor, raising questions about the
reputational risk associated with outsourcing.
Little is known about internal procedures for
assessing and responding to risk. This project
will collect data from senior decision-makers to
address this gap in the literature. The research
will help industry understand how best to
respond to changes in laws and social norms
regarding bribery, and will be of particular
value for companies that operate in emerging
markets where corruption is prevalent.”
CSR Innovation and
Corporate Reputation:
a Cross-cultural
perspective
Dr Kunal Basu and Milena Mueller, Oxford
University Centre for Corporate Reputation,
Saïd Business School; with Sourav Mukherji,
Associate Professor, Organizations & Strategy,
Indian Institute of Management, Bangalore
This research project addresses the question of whether
companies can create specific reputations through CSR
activities. In particular, we explore the motivation of companies
to innovate in the CSR domain, the interaction between
firms and stakeholders in the process of CSR innovation, the
construction of corporate reputation related to CSR innovation
and the cultural context in which CSR innovation takes place.
The research questions are investigated on the basis of a
small-scale comparative case study design. While our aim is
to develop a generic approach to studying differences in CSR
innovation across cultures, this project will focus on exploring
differences in CSR innovation between Europe and India and
their impact on reputation.
Milena Mueller writes: “We have been
extremely fortunate to have been given
research access to various major UK and
Indian retailers. It has been fascinating to
hear from them about CSR as a driver of
process and business model innovation in
the retail industry. In academic terms, three
major insights are expected. We aim to gain
a better understanding of the nature and
motives for innovative CSR practices; to
pursue the theoretical question as to whether
a future-oriented phenomenon such as CSR
innovation can impact corporate reputation;
and to contribute to the discussion of whether
the phenomena of CSR innovation and
corporate reputation vary in different cultural
contexts. We hope to add to the knowledge
base regarding successful management of
stakeholder relations in the CSR process and
to provide guidance as to whether and how
companies can distinguish themselves from
competitors and create reputations through
innovations in the CSR domain.”
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Dr Kasim Randeree
Dr Will Harvey
CORPORATIONS HAVE
MULTIPLE REPUTATIONS continued
The Impact of Major
Programme Failure on
Corporate Reputation
Dr Kasim Randeree, BT Centre,
Saïd Business School
This project explores the multiple reputations at play within
a major project and the reputational damage when a major
programme fails to achieve its intended outcome on time and
within budget. This research investigates the extent to which
public bodies and corporations anticipate the likely onset of
programme set-backs and failures and the reputation damage
limitation methods employed.
Kasim Randeree writes: “The research looked
at reputational issues by examining lessons
learned through a longitudinal survey of
past summer Olympic games. The research
outcomes carry significant lessons for
future Olympic host cities and have broader
implications for all mega-sporting events.
The findings indicate that history ultimately
judges the reputation of any given Olympics by
association with its host city, even though the
reality may be that other stakeholders are to
blame when things go wrong. The lessons for
London’s or Rio de Janeiro’s Olympic legacy is
that their reputational assets will only accrue
based on the efficient interconnectedness
of infrastructural resources; successful
contingency planning; the effective
organisation and execution of the games itself;
and transparency in reporting, truthfulness
in conduct and accuracy of disseminated
information when things do go wrong.”
Labour Markets and
Global Talent
Dr Will Harvey and Professor Tim Morris,
Oxford University Centre for Corporate
Reputation, Saïd Business School.
This project is part of a broader research agenda which is
focusing on reputation formation and management within
professional service firms. Our first project is looking at
management consultancy companies and in particular the
different impressions that internal and external stakeholders
hold towards the industry as well as towards particular firms.
We are interested in how these impressions differ amongst
stakeholders in various countries and conclude that the
reputation of professional service firms is sometimes at odds
with the quality of the projects they deliver.
Will Harvey writes: “Our project finds that a
company's reputation is quite different from
and often inconsistent with the quality of the
projects it delivers and that reputation and
quality are built and maintained in distinct
ways. Furthermore, within the management
consultancy sector, quality is difficult to
assess and reputation is often used as a
substitute for stakeholders who are less
familiar with particular firms. As a result,
external stakeholders often confuse reputation
and quality. This suggests that some firms
hold a better reputation than the quality
of their projects and vice versa. We model
how reputation and quality may be built and
sustained in different ways within management
consultancy firms and demonstrate the varying
reputations of management consultancies
in multiple countries amongst different
stakeholders. We not only show how firms can
have multiple reputations, but also how they
signal their different reputations to clients and
potential employees. Highlighting the process
of building reputation and quality has important
implications for their management.”
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Dr Steve New
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Dr Aaron Thegeya
REPUTATION
SIGNALS HAVE VALUE
Corporate Reputation
and the Supply
Chain: Provenance,
Traceability and
Information
Dr Steve New and Dr Tamar Yogev, Oxford
University Centre for Corporate Reputation,
Saïd Business School
Firms are increasingly using complex supply chain management
to signal certain reputation qualities. Firms’ reputations can
be devastated by episodes relating to supply chain ethics
and product safety. To manage the risks associated with
these issues, firms are increasingly facing up to the following
challenges. How much information should be held about their
suppliers’ practices, and those of suppliers’ suppliers and at
what cost? To what extent should organisations rely on suppliers’
own accounts of their practices, and to what extent should this
be augmented by audit, inspection, or third party certification?
We hypothesise that the machinery for constructing and
interpreting evidence for these practices in industrial companies
shows parallels with the ways in which evidence for provenance,
value and authenticity is handled in other markets, notably in
contemporary art. Through a series of case studies spanning
both sectors, we seek to throw light on the practical challenges
and theoretical issues surrounding the interaction of provenance
and reputation.
Steve New writes: “Our work is showing
that there is much about the handling and
interpretation of data that is complex, and
which perhaps undermines over-simplified
narratives about quality and risk. This work has
two principal academic ambitions: first, it seeks
to move the empirical understanding of how
organisations rely on cues and network effects
to inform their judgement on contestable criteria;
second, it seeks to develop theoretical linkages
between reputation, the social construction of
quality and the management of supply chains.
The work will inform organisations’ efforts to
structure and prioritise work on the management
of provenance-based reputation.”
Investment Banking
Structure and
Reputation
Professor Alan Morrison and Dr Aaron
Thegeya, Oxford University Centre for
Corporate Reputation, Saïd Business School;
with Professor W. J. Wilhelm and Professor
Carola Schenone, McIntire School of
Commerce, University of Virginia
This research explores reputation signals and networks in
investment banking using data on investment banking syndicate
composition to examine the ways in which market relationships
have evolved in response to technological change, legal and
regulatory innovation during the twentieth century. We analyse
the movement of senior investment bankers across banks
between 1950 and 2002 and investigate whether reputation in
investment banking is carried by the investment banker, or by
the bank. Further study identifies the key advisors for merger and
acquisition deals in the last decade, analysing the importance of
reputation in financial advisory transactions by looking at issuer
and bank relationships in these transactions. We also explore the
legal dimension of financial advisory transactions by looking at
relationships between issuers and law firms.
Aaron Thegeya writes: “Our preliminary results
are striking. We find that investment banking
networks were very dispersed in the earlier
periods of the data sample, and that banks
with high revenues were not necessarily central
within banking networks. In the later periods of
the sample there is a strong positive correlation
between network centrality and revenue. Early
analysis indicates that issuers reward banks
for being well connected with their peers.
The project sheds light upon the changing
importance of reputation in investment
banking syndicates, and the measurement of
investment bank reputation which could help
inform the regulatory framework for investment
banks.”
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Dr Basak Yakis-Douglas
Andrea Polo
REPUTATION SIGNALS
HAVE VALUE continued
Strategy
Communications:
Adoption, Content and
Impacts
Professor Richard Whittington, New College
& Saïd Business School, University of Oxford
and Dr Basak Yakis-Douglas, Oxford University
Centre for Corporate Reputation, Saïd Business
School
This project analyses the adoption of formal strategy
communications by global corporations considering how such
strategy communications signal qualities about the corporation
to its global intermediaries. In addition to investigating the
signals that are communicated, this research hopes to determine
the impact of these communications, particularly on shareprices and analyst and media commentary.
Basak Yakis-Douglas writes: “We need
to understand more about why firms
adopt strategy communications and the
performance consequences of their doing so.
Greater disclosure of strategy has the promise
of reducing information asymmetries between
investors and corporations, increasing the
reputation of corporations within the financial
community as measured by stock prices
and the willingness of markets to fund
long-term and innovative strategies. Our
findings reveal that investors care about,
and respond to strategy announcements as
much as they do to earnings announcements.
We also found that carrying out strategy
announcements regularly is a significant (and
positive) estimator of cumulative abnormal
return. Hence, it is possible for firms that
carry out regular strategy announcements
to have a higher chance of perfecting these
communications over time and therefore,
an increased chance of establishing control
over the direction and scale of their investors’
reactions. Through these announcements,
investors can form their own benchmarks for
evaluating firms’ reputations.”
Using Reputational
Sanctions to Enforce
Corporate Regulation
Professor John Armour, Faculty of Law,
University of Oxford; Professor Colin Mayer,
Saïd Business School, University of Oxford;
Andrea Polo, Oxford University Centre for
Corporate Reputation, Saïd Business School
We study the impact of the announcement of enforcement
of financial and securities regulation by the UK’s Financial
Services Authority and London Stock Exchange on the
market price of penalised firms. Since these agencies do not
announce enforcement until a penalty is levied, their actions
provide a uniquely clean dataset on which to examine the
reputational aspect of any sanction as opposed to the absolute
financial sanction. Our results have significant implications for
understanding both corporate reputation and regulatory policy.
Andrea Polo writes: “We observe that the
penalised firms’ stock prices experience
statistically significant abnormal losses of
approximately ten times the financial penalties
and compensation paid. We interpret the fall
in equity market value in excess of mandated
payments as the firms’ reputational loss. This
is consistent with theories which suggest
that revelation of information of misconduct
by a firm sends reputation signals which will
cause its trading partners – its customers and
investors — to downgrade their assessments
of its quality and adversely affect its terms
of trade. Consistent with this, the negative
share price reactions in our sample are
entirely associated with cases where the
misconduct involves harm to trading partners,
for example, mis-selling financial products and
mis-statements in financial reports. Where
the wrongdoing affects third parties rather
than trading partners (resulting, for example,
from failure to comply with rules about money
laundering or reporting of trades in other firm’s
stocks), there are no statistically significant
abnormal returns beyond the amount of
financial payments required.”
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OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Ken Okamura
REPUTATION SIGNALS
HAVE VALUE continued
Corporate Reputation
in Banking
Dr Ken Okamura and Professor Alan Morrison,
Oxford University Centre for Corporate
Reputation, Saïd Business School
Banks engage in reputation creation, both for themselves and
for their borrowers. The project attempts to place a monetary
value on such reputation creation and maintenance. It examines
the impact on borrowers when their primary relationship bank
suffers a reputational loss due to bankruptcy of a particular
borrower. It also examines the role played by reputation in the
willingness of Japanese banks to support financially distressed
borrowers, comparing this to the actions of US banks.
Ken Okamura writes: “Despite Japanese
banks’ reputation for strong relationships
with their borrowers, the impact of bank
bankruptcy on the valuation of their borrowers
is similar to the bankruptcy of a US bank,
with a cost of approximately 10% of market
capitalisation. In an analysis of bankrupt firms
kept alive by their banks, we found evidence
that such banks gave extra life to bankrupt
firms, accounting for a third of total loan
losses during the Japanese banking crisis. The
attempt to maintain reputation in the face of
increasing financial problems creates further
loan losses and deepens financial crises.
Placing a monetary value on reputation and
relationships will allow banks and regulators to
better understand the costs of bank financial
distress and inform regulation in future.”
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Dr Jonathan Silberstein-Loeb
REPUTATION IS
INTERMEDIATED
Business Journalism
and Corporate Decision
Making
Dr Jonathan Silberstein-Loeb,
Oxford University Centre for Corporate
Reputation, Saïd Business School
This project aims to address the way in which the media, as a
high status reputation intermediary, impacts corporate decisionmaking, how corporations respond to such impacts and to
understand the role that business journalists have in creating
and influencing corporate reputation in three different markets
in Europe - Germany, Italy and the UK.
Jonathan Silberstein-Loeb writes “Most
scholarship on media relations focuses
on PR practice. I argue, however, that
good media relations depend less upon
reconfiguring PR-journalist interactions,
which are fundamentally aligned, than on
closer cooperation between PR practitioners
and corporate decision-makers. By moving
away from a focus on PR practice, and
reconsidering the role allocated to the PR
function, corporations may improve their
media relations and improve their reputation.
The first stage data collection and literature
review in the UK has been completed. Data
collection in Italy will begin in January and
in Germany shortly thereafter. This new
information will produce interesting crosscultural comparisons."
20
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Dr Christopher McKenna
REPUTATION IS
INTERMEDIATED
continued
Creating Global
Institutions to Police
Corporate Reputation:
The Evolution of Trust
and Transparency
Dr Christopher McKenna, Dr Rowena Olegario
and Dr Jonathan Silberstein-Loeb, Oxford
University Centre for Corporate Reputation,
Saïd Business School
We are researching the formation of corporate reputation over
time and the role of major regulatory intermediaries in that
formation. The three main questions our research seeks to
address are: 1) How are institutional change and reputation
related? 2) How have corporations and other organisations
strategically employed reputation? 3) How do they create,
sustain and rebuild reputations? Our parallel projects are a
series of historical studies that each attempt to understand
the creation of modern institutions – the business professions,
credit rating agencies, and the press – to police corporate
reputation in the marketplace.
Chris McKenna writes: “This year was
notable for the breadth and extent of our
continued research on the origins of corporate
reputation. Our seminar series continued
to bring prominent academics to Oxford to
consider corporate reputation in historical
perspective while we were pursuing archival
research around the globe including my own
in the United States last summer. Our push
to make other researchers consider corporate
reputation as one of the central elements of
the development of the modern economy is
bearing fruit with others using the framework
for the first time. Participants in our seminar
and conference remarked that by asking them
to reframe their current research through
the lens of corporate reputation, they have
discovered a valuable new way to contextualise
their research. By framing corporate reputation
as a historical phenomenon, we are arguing
for a new paradigm in business history that is
gaining power.”
CASE STUDIES
Case Study Editor,
Rowena Olegario,
reports:
The Centre continues to develop case studies
that explore how companies create, sustain,
lose, and (sometimes) rehabilitate their
reputations.
In 2010 we completed two case studies,
Arcandor, 2004-2009 and Eni’s Sustainability
Programmes in the Republic of Congo.
The Arcandor case examines the turnaround
and eventual collapse of the German-British
retail and travel conglomerate. It details the
complex problems faced by the CEO who
was brought in to save the firm and promotes
a discussion of the possible strategies he
might have deployed. The case considers
how the reputations of Arcandor and its CEO,
which evolved during the turnaround, both
constrained and enabled the options that were
available to save the firm. How Germany’s
distinctive business institutions and culture
shaped the turnaround strategy is also
discussed.
The Eni case was the result of a week-long
visit by five of the Centre’s researchers to the
Italian company’s operations in the Republic
of Congo in the autumn of 2009. Currently
the world’s seventh-largest multinational oil
and gas company, Eni is now the biggest
operator in Africa. The case narrates how the
firm’s commitment to sustainability evolved out
of the values embedded by its first director,
Enrico Mattei. Beginning in the 1950s, Eni
successfully entered into agreements with
African host governments by emphasising that
“it is your oil – we are guests” and offering
these countries a larger share of oil revenues.
Taking the story to the present day, the case
asks how Eni’s strong corporate values can
evolve to meet the multiple challenges facing
the oil and gas industry.
Looking ahead, we are developing two cases
on the mining company QMM, a subsidiary
of Rio Tinto that operates an ilmenite mine in
Madagascar. In July 2010, four researchers
from the Centre visited the QMM operations
in Fort Dauphin, located on Madagascar’s
southeastern coast. We learned about
the challenges QMM/Rio Tinto faced in
reassuring the international community that
its mining operations would not compromise
the region’s biodiversity, and in persuading
local communities that they would benefit
from QMM’s presence. Our research involved
interviews with QMM/Rio Tinto executives
and employees, and a variety of stakeholders,
including international and local NGOs, local
officials, and community members. The
cases on these two reputational challenges –
biodiversity and community engagement – are
meant to be taught in sequence to illustrate
the complex chain of issues QMM faced.
Along with the case on Eni, they form a linked
set of teaching materials on the extractive
industries, their operations in developing
countries and sustainability. The QMM cases
will be completed by Spring 2011.
Rowena Olegario
21
22
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
REPUTATION
SYMPOSIUM 2010
The Centre held its inaugural
Reputation Symposium from
15 - 17 September 2010.
Academic reputation experts
from across the globe gathered
in Oxford along with some
of the Centre’s International
Research Fellows, Visiting
Fellows and Centre staff.
The output from this first
symposium will be the Oxford
Handbook of Corporate
Reputation which is due to be
published in 2012.
To launch the event, guests attended
dinner at the Divinity School in Oxford where
the winners of the Centre's Annual Award for
the Best Published Paper relating to reputation
were announced. This year’s award was made
to Professor Tillmann Wagner, Professor
Barton Weitz and Professor Richard Lutz
for their Journal of Marketing paper entitled
Corporate Hypocrisy: Overcoming the Threat
of Inconsistent Corporate Social Responsibility
Perceptions.
Academic discussion of the draft chapters for
the Oxford Handbook of Corporate Reputation
took place at Jesus College, led by the
handbook editors, Michael Barnett, Professor
of Strategy, Saïd Business School, University
of Oxford and Fellow in Strategy, St. Anne’s
College, Oxford and Timothy G. Pollock,
Professor of Management, Management
and Organization Department, Penn State
University, Smeal College of Business.
The following papers were presented
and discussed.
23
24
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
REPUTATION
SYMPOSIUM 2010
ANNUAL REVIEW 2009/10
continued
Making sense of the
grab bag of concepts:
The interplay amongst
image, identity,
legitimacy, and
reputation
Peter Foreman, Ph.D., Associate Professor of
Management, Illinois State University; David
A. Whetten, Jack Wheatley Professor of
Organizational Studies, Director, Brigham Young
University Faculty Development Center; Alison
Mackey, Assistant Professor of Management,
Orfalea College of Business, California
Polytechnic State University
It ain’t what you do,
it’s the way that you
do it: Reputation and
status effects on
organizations
The importance of
reputation in markets:
Towards an integration
of role and reputation
theory
Michael Jensen, Associate Professor, Stephen
M. Ross School of Business, University of
Michigan; Heeyon Kim, Stephen M. Ross
School of Business, University of Michigan;
Bo Kyung Kim, Stephen M. Ross School of
Business, University of Michigan
Show me the money?
Perceptions, rankings,
and other ingredients
that make reputation an
intangible asset
Violina P. Rindova, Ralph Thomas Professor
of Business, Department of Management,
McCombs School of Business, University of
Texas-Austin; Luis Martins, Department of
Management, McCombs School of Business,
University of Texas-Austin
David Barron, University Reader in
Organizational Sociology, Saïd Business
School, University of Oxford; Meredith Rolfe,
Senior Research Fellow, Oxford University
Centre for Corporate Reputation, Saïd
Business School , University of Oxford
Keeping score: Measures
of corporate reputation
On being bad: Why
stigma is not the same
as a bad reputation
Naomi A. Gardberg, Baruch College – CUNY,
Department of Management; Grahame R.
Dowling, Professor, School of Business,
University of Technology, Sydney
Yuri Mishina, Assistant Professor of
Management, Eli Broad College of Business,
Michigan State University; Cynthia E. Devers,
Wisconsin School of Business, University of
Wisconsin-Madison
What does it mean to
be green? Theorizing
change in criteria for
corporate reputation
Mark T. Kennedy, Assistant Professor of
Management and Organization, Marshall School
of Business, University of Southern California;
Jay Inghwee Chok, Marshall School of Business,
University of Southern California; Jingfang Liu,
Annenberg School for Communication and
Journalism, University of Southern California
Executive Reputation:
Reviewing and
Developing a Nascent
Construct
Waving the flag: The
influence of country
of origin on corporate
reputation
Strategic disclosure:
Managing corporate
reputation by bringing
strategy to the fore
Scott D. Graffin, Assistant Professor,
Department of Management, Terry College of
Business, University of Georgia; Michael D.
Pfarrer, Department of Management, Terry
College of Business, University of Georgia;
Michael Hill, Department of Management,
Terry College of Business, University of
Georgia
William Newburry, Knight Ridder Research
Professor, College of Business Administration,
Florida International University
Basak Yakis-Douglas, Research Fellow,
Oxford University Centre for Corporate
Reputation, Saïd Business School, University
of Oxford; Richard Whittington, Professor of
Strategic Management, Saïd Business School,
University of Oxford
Industry Self
Regulation as a
Solution to Reputation
Commons: A case of
the New York Clearing
House Association
Getting started:
Building reputation for
young entrepreneurial
firms
Antoaneta P. Petkova, Assistant Professor,
Management and Organization, San Francisco
State University
Managing Organisational
Reputations: the roles
context and character
Lori Qingyuan Yue, Assistant Professor,
Marshall School of Business, University of
Southern California; Paul Ingram, Columbia
Business School, Columbia University
Kimberly D. Elsbach, Professor of
Management, Stephen G. Newberry Chair in
Leadership, Graduate School of Management,
University of California
A labour of love?
Understanding
reputation formation
within the labour market
Creating leading
corporate reputations
through corporate
branding: The case of
Novo Nordisk
William Harvey, Research Fellow, Oxford
University Centre for Corporate Reputation,
Saïd Business School, University of Oxford; Tim
Morris, Professor of Management Studies, Saïd
Business School, University of Oxford
Majken Schultz, Professor, Copenhagen
Business School, Department of Organization;
Mary Jo Hatch, Professor, Emerita, University
of Virginia and Adjunct Professor, Copenhagen
Business School, Department of Organization;
Nick Adams, Director Corporate Branding,
Novo Nordisk, Denmark
After the fall: A
behavioural theory of
reputation repair
Mooweon Rhee, Associate Professor of
Management, Shidler College of Business,
University of Hawaii ; Tohyun Kim, Assistant
Professor of Human Resources and
Organisation, Shidler College of Business,
University of Hawaii
The regulation of
reputation in historical
perspective
Christopher McKenna, Reader in Business
History and Strategy, Saïd Business School,
University of Oxford; Rowena Olegario, Senior
Research Fellow, Oxford University Centre for
Corporate Reputation, Saïd Business School,
University of Oxford; Jonathan SilbersteinLoeb, Research Fellow, Oxford University
Centre for Corporate Reputation, Saïd
Business School, University of Oxford
Paying for your
sins: When is there
reputational penalty in
markets?
Jonathan Karpoff, Professor of Finance,
Washington Mutual Endowed Chair in
Innovation, Foster School of Business,
University of Washington, Seattle
The effects of
financial policy on
corporate reputation
Thomas Noe, Ernest Butten Professor
of Management Studies, Saïd Business
School, University of Oxford
How reputation
regulates regulators:
illustrations from the
regulation of retail
finance
Sharon Gilad, ESRC Centre for the Analysis
of Risk and Regulation, the London School
of Economics; Tamar Yogev, Research
Fellow, Oxford University Centre for
Corporate Reputation, Saïd Business
School, University of Oxford
Balancing reputation
and regulation: Crosscountry comparisons
Gregory Jackson, Chair of Human
Resource Management and Labor Politics
/ Personalpolitik, School of Business
& Economics, Freie Universität Berlin;
Stephen Brammer, Professor in Business
& Society, University of Bath School of
Management
25
26
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
INTERNATIONAL
RESEARCH FELLOWS
EDUCATION
During 2010, the Centre
organised, ran and contributed
to several executive education
programmes.
The Centre’s flagship
Reputation and Executive
Leadership programme for
senior executives took place in
June 2010.
Our group of International Research Fellows has
grown considerably over the course of 2010.
This group of leading academics, specialising in
reputation issues, is affiliated with the research
work of the Centre. We were delighted to see so
many of them making a strong contribution to
the Symposium in September.
This invitation-only three-day residential
programme included the involvement of
some 25 Visiting Fellows as practitioner
teachers, in addition to a teaching
contribution by International Research
Fellow, Professor Ron Burt. Their invaluable
contribution was much appreciated by
all involved in the programme which was
attended by a group of senior participants
from major global companies. Following very
positive evaluation a further programme will
take place in June 2011.
1. Professor Edward Balleisen
Duke University
Professor Ron Burt
In addition to this flagship programme, the
Centre developed bespoke programmes
for several major international corporations
in the UK, Europe and the Middle East
and contributed modules on reputation
to executive and degree programmes
organised by the University of Oxford.
2010 also saw the continuation and
development of bespoke leadership
programmes for leading global companies,
both in Oxford and within companies
worldwide.
2. Professor Pratima Bansal
Richard Ivey School of Business,
The University of Western Ontario
3. Professor Ronald Burt
University of Chicago
Booth School of Business
1
2
3
4
5
6
4. Professor David Deephouse
University of Alberta
School of Business
5. Professor Janet M. Dukerich
The University of Texas
at Austin McCombs School
of Business
6. Professor Kimberly Elsbach
University of California, Davis
Graduate School of Management
27
28
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
INTERNATIONAL
RESEARCH FELLOWS
ANNUAL REVIEW 2009/10
continued
7. Professor Dietmar Fink
Bonn-Rhein-Sieg University
of Applied Sciences
13. Professor Frank Partnoy
University of San Diego School
of Law
Selected International
Research Fellow
Publications 2010
8. Professor Guo Guoqing
Renmin University of China
14. Professor Violina Rindova
McCombs School of Business
The University of Texas at Austin
Balleisen, E. Private Cops on the Fraud
Beat: The Limits of American Business SelfRegulation, 1895-1932. Business History
Review 83 (2009): 113-60. Winner of 2010,
Henrietta Larson Award for the best article in
Business History Review published in 2009.
9. Professor Gregory Jackson
Freie Universität Berlin
10. Professor Jonathan Karpoff
Foster School of Business,
University of Washington
11. Professor Christopher Kobrak
ESCP Europe
29
15. Professor Roland Rust
Robert H. Smith School of Business,
University of Maryland
7
8
9
Craig Smith, N., Palazzo, G. and Bhattacharya,
C.B. (2010). Marketing consequences:
Stakeholder marketing and supply chain
CSR issues. Business Ethics Quarterly, 20 (4):
617-641.
16. Professor David Vogel
University of California, Berkeley
17. Professor Harrie Vredenburg
University of Calgary
12. Professor Guido Palazzo
HEC, Lausanne
10
13
11
14
12
15
Deephouse, D. L., Lugosi, N. and Thomarat, M.
(In Press). How does the Sun shine on Suncor?
A comparison of prestige, mainstream, and
tabloid media reporting on Alberta’s oil and
gas industry. Proceedings of the 21st Annual
Conference of the International Association for
Business and Society.
Elsbach, K.D. and Currall, S.C. (2010).
Understanding threats to leader trustworthiness:
why it’s better to be called ‘incompetent’ than
‘immoral.’ Forthcoming in Restoring Trust:
Challenges and Prospects, Oxford University Press
(Editors, Roderick Kramer and Todd Pittinsky).
Fink, D. and Knoblach, B. (2010).
Wirtschaftsprüfung 2010: Reputation und
Kompetenzen in Audit/Tax/Advisory.
WGMB. Bonn.
16
17
Jackson, G. and Androniki, A. (2010).
Corporate Social Responsibility in Western
Europe: CSR as an Institutional Mirror or a
Substitute? Journal of Business Ethics. 94 (3),
p. 371-394.
Partnoy, F. (2010) Overdependence on Credit
Ratings Was a Primary Cause of the Crisis. In
The Panic of 2008; Causes, Consequences
and Implications for Reform. Edward Elgar
Press (forthcoming), Lawrence Mitchell and
Arthur Wilmarth, eds.
Partnoy, F., Flannery, M. J. and Houston, J.F.
(2010). Credit Default Swap Spreads as Viable
Substitutes for Credit Ratings. 158 University
of Pennsylvania Law Review 2085.
Partnoy, F. and Turner, L.E. (2010)
Bring Transparency to Off-Balance Sheet
Accounting. Roosevelt Institute White Paper.
Petkova, A., Rindova, V. and Gupta, A.
(2010). The effects of signaling, sensegiving
and media attention on high-technology new
ventures’ access to venture capital. (Under
review). Organization Science.
Pfarrer, M., Pollock, T. and Rindova, V.
2010. A tale of two assets: The effects of
firm reputation and celebrity on earnings
surprises and investors’ reactions. Academy of
Management Journal. October issue.
Rindova, V., Williamson, I. and Petkova,
A. (2010). When is reputation an asset?
Reflections on theory and methods in two
studies of business schools. Journal of
Management, 36 (3): 610-619.
Stern, I., Dukerich, J.M. and Zajac, E. (2010).
Unmixed signals: How reputation and status
affect alliance formation. (Under journal review).
Westphal, J. D. and Deephouse D. L.
(In Press). Avoiding bad press: Interpersonal
influence in relations between CEOs and
journalists and the consequences for press
reporting about firms and their leadership.
Organization Science.
30
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
Professor David Whetten
VISITING
PROFESSOR
Professor
David Whetten
VISITING
FELLOWS
David A. Whetten has been awarded the part time role of Visiting
Professor at the Oxford University Centre for Corporate Reputation.
As well as acting as an ambassador for the Centre’s activities,
Dave provides guidance and advice on the Centre’s research and
teaching agenda. He also acts as a Programme Director in the
theory area and a resource for the Centre’s Research Fellows.
As an international ambassador for the Centre within the global
academic community, Dave assists in the identification and
invitation of new International Research Fellows and helps with the
development of external practitioner oriented commentaries based
on the research output of the Centre. In addition, Dave provides
guidance and advice on Centre conferences and seminars.
David is the Jack Wheatley Professor of
Organizational Studies and Director of the
Faculty Development Center at Brigham Young
University. He has over 85 publications in
scholarly outlets, mainly on the subjects of
inter-organisational relations, organisational
effectiveness, organisational decline,
organisational identity and identification, theory
development and reputation. His pioneering
and award-winning management text,
Developing Management Skills, co-authored
with Kim Cameron, is in its eighth edition.
In 1991 he was elected an Academy of
Management Fellow, he received the Academy’s
Distinguished Service Award in 1994, and in
2004 he received the Academy of Management
OMT Division Distinguished Scholar award. In
addition, he served as President of the Academy
of Management in 2000.
We are honoured to have
secured the services and
support of 78 Visiting Fellows
from the highest echelons
of government, industry, the
media, the professions and
other external institutions. These
individuals have taken part
in seminars for the staff and
students of the Saïd Business
School; played a critical role in
the Reputation and Leadership
programme in June; provided
access to key personnel for the
development of case studies;
and generously supported the
work of the Centre. The Centre’s
Global Advisory Board, made up
of a group of Visiting Fellows,
continues to shape our research
development. The involvement
of our Visiting Fellows in the life
of the Centre is invaluable.
Sameer Al Ansari
Simon Lewis
Baroness Valerie Amos
Simon Lorne
Norman Askew
Stefano Lucchini
Brendan Barber
Sir Laurie Magnus
Lionel Barber
David Mansfield
John Barton
David Mayhew
Roger Carr
Dr Thomas Middelhoff
Stephen Catlin
Raymond Nasr
Peter Cawdron
Torsten Oltmanns
Stuart Chambers
Sir John Parker
Doug Daft
Mike Parker
Guy Dawson
Tim Parker
Hugo Dixon
Roger Parry
Mario Draghi
John Peace
Terry Duddy
Sir Ian Prosser
Steve Easterbrook
Sir Michael Rake
Phil Evans
Jeff Randall
Bill Forrester
Don Robert
Philippa Foster Back OBE
Sir Steve Robson
Sir Roy Gardner
Manny Roman
Sergey Generalov
Sir Stuart Rose*
Anthony Gordon Lennox
Roland Rudd
Andrew Gowers
Robin Saunders
Lord Tony Grabiner QC
Dr Paolo Scaroni
Andrew Grant
Prof Dr Burkhard Schwenker*
Tony Habgood
Sir Martin Sorrell
Andy Haste
Oliver Stocken
Andy Hornby
Robert Swannell
Johannes Huth
John Tiner
Mary Jo Jacobi
David Tyler
Lord Robin Janvrin
Lucas Van Praag
Lady Barbara Judge
Mark Warham
Fred Kempe
Sara Weller
Justin King
Patience Wheatcroft
John Kingman
David Wighton
Will Lawes
Bob Wigley
Allan Leighton
John Witherow
Carol Leonard
Rupert Younger
Bo Lerenius
Gerhard Zeiler
* New appointments in 2010
31
32
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
PRINCIPAL
Events 2010
January
February
Distinguished Speaker
Seminar with Visiting
Fellow, Johannes Huth.
Corporate governance
and reputation from the
perspective of a private
equity practitioner
Seminar Series: Reputation, entrepreneurship,
and moral sentiments: old allies in the race
to economic transformation. Speaker Dr Ian
Hunter, Leverhulme Visiting Professor to
Henley Business School
Seminar with guest speaker, Kevin Maxwell,
discussing bankruptcy, running a family
owned business, shareholders and reputation
Professor Ron Burt appointed International
Research Fellow and leads two seminars:
Gossip and reputation: Cocktail palaver meets
the social science of networks and a seminar
on reputation, social capital, and networks
Distinguished Speaker
Seminar with Visiting
Fellow, Roger Carr.
Hostile bids & takeovers
Seminar Series:
Post-war Research
Management,
Innovation Infrastructures, and Emerging
Industries: Lessons from two American High
Tech Regions. Speaker, Professor Michael
Best (University of Massachusetts at Lowell
and Judge Business School)
Distinguished
Speaker Seminar
with Visiting
Fellow, Paolo
Scaroni. Their
Oil, Not Ours –
A Vision for 21st
Century Oil
Ethics Seminar: The
ethics of reputation
and the reputation of
ethics: oxymoron or
research subject? With
guest speaker, Visiting
Fellow, Philippa
Foster Back
March
June
November
Theory workshop. Professional Service Firms.
Speaker, Professor Tim Morris
Arrival of Visiting Academic Jose Galan,
University of Salamanca
Seminar Series: Corporate Reputation and the
Banana Republics: United Fruit Company’s
Political and Financial Scandals in the
Twentieth Century. Speaker, Marcelo Bucheli
Assistant Professor, University of Illinois at
Urbana-Champaign (USA)
Seminar Series: Internationalisation and Brand
Protection in British Business: Insights from
Business History. Speaker, Teresa da Silva
Lopes, University of York
Seminar Series: Reputation and the
company in nineteenth-century Britain.
Speaker, Dr James Taylor, Lancaster
University
Conference: Reputation, Emotion and the
Market, Saïd Business School and Christ
Church, Oxford. Two day conference led by Dr
Chris McKenna, Oxford University Centre for
Corporate Reputation and Dr Peter Knight,
University of Manchester. Guest speaker:
Justin Fox, Editorial Director, Harvard Business
Review
May
Seminar Series: Corporate responsibility:
reasons, principles and rationality. Speaker,
Laurence Cranmer, Associate Fellow, Saïd
Business School
Distinguished Speaker
Seminar with Visiting
Fellow, Sir Michael
Rake. The Global
Crisis - Causes and
Answers: Pragmatism
and Honesty versus
Populism
Paper Development Workshop led by
Professor David Whetten: Applying the
Concept of Organizational Identity to the Study
of Distinctive Organizational Practices
September
Executive MBA Presentation, Saïd Business
School. Leadership, judgement and
reputation. Speaker, Rupert Younger
MBA Capstone
Lecture. Speaker,
Visiting Fellow,
Frederick Kempe
Announcement of
Centre for Corporate
Reputation Annual
Award Winners
Oxford University Centre for Corporate
Reputation Symposium 2010, Jesus College,
Oxford (see details on page 22)
Appointment of Visiting Professor David
Whetten
Seminar Series: 'Projecting' in seventeenth
and early eighteenth century England: a
forgotten history of corporate reputation?
Speaker, Dr Koji Yamamoto, University
of St Andrews
Seminar: How are reputation and quality
built and sustained differently within
management consultancy firms? Speakers,
Dr Will Harvey and Professor Tim Morris,
Centre for Corporate Reputation, Saïd
Business School, University of Oxford.
Discussant, Dr Kevin Money, Director of
The John Madejski Centre for Reputation,
Henley Business School, University of
Reading
December
Seminar: The Economics of Reputation
Reformation. Presenter, Dr Thomas Noe,
Centre for Corporate Reputation, Saïd
Business School, University of Oxford.
Discussant, Professor Alan Morrison,
Centre for Corporate Reputation, Saïd
Business School, University of Oxford
33
34
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
ANNUAL REVIEW 2009/10
35
PUBLICATIONS
REFEREED CONFERENCE
PAPERS
Barron, D. and Rolfe, M. (2010). ‘It Ain't
What You Do, It's the Way that You Do It: The
Benefits of Status and Reputation.’ Centre for
Corporate Reputation Symposium.
Gilad, S. and Yogev, T. (2010). ‘How
Reputation Regulates Regulators: Illustrations
from the regulation of retail finance.’ Centre for
Corporate Reputation Symposium.
Harvey, W.S. and Morris, T. (2010). ‘A
Labour of love? Understanding reputation
formation within the labour market.’ Centre for
Corporate Reputation Symposium.
Noe T. (2010). ‘The economics of reputation
formation.’ Centre for Corporate Reputation
Symposium.
Olegario, R., McKenna, C. and SilbersteinLoeb, J. (2010). ‘Reputation and Regulation
in Historical Perspective.’ Centre for Corporate
Reputation Symposium.
Polo. A (2010). Regulatory sanctions and
reputational damage in financial markets.
Italian Society of Law and Economics Annual
Conference. Free University of Bozen,
Bolzano.
Silberstein-Loeb, J. (2010). 'How to pay
for the news? Cooperation and exclusion in
historical perspective', Oxford Media Research
Seminar, University of Oxford.
Silberstein-Loeb, J. (2010). 'News, networks,
and coordination: the Associated Press, 18931945', Institute for Applied Economics and the
Study of Business Enterprise, Johns Hopkins
University, Baltimore.
Silberstein-Loeb, J. (2010). 'News, networks,
and coordination: the Associated Press, 18931945', European Business History Association
(EBHA) Conference, Glasgow.
Silberstein-Loeb, J. (2010). ‘The rise and fall
of the newspaper in England, 1700-1950’,
four-part lecture series, History Faculty,
University of Oxford.
Silberstein-Loeb, J. (2010). 'Taxing
Knowledge: The Political Economy of the
News in Great Britain, 1712-1861', Business
History Conference (BHC), Athens, Georgia.
Silberstein-Loeb, J. (2010). 'Reuters and
decolonisation, 1865-1945', Institute of
Commonwealth Studies, London.
Whittington, R. and Yakis-Douglas, B.
(2010). ‘Strategic Disclosure: Corporate
Reputation and the Communication of
Strategy.’ Centre for Corporate Reputation
Symposium.
Yakis-Douglas, B. (2010). ‘The
communication advantage: Investigating
impacts of strategy announcements.’ Strategic
Management Society Annual Conference,
Rome, Italy.
SEMINARS, WORKSHOPS,
LECTURES AND INVITED
PRESENTATIONS
Harvey, W.S. University of Salamanca;
University of Sydney (September 2010).
‘Understanding corporate reputation within
management consultancies.'
McKenna, C. Max Planck Institute for
Sociology, Cologne, Germany (January 2010).
‘White Collar Crime & Fraud in Historical
Perspective.’
McKenna, C. Reputation and the Market, Saïd
Business School, Oxford (March 2010). ‘The
Regulation of Speculation: White Collar Crime
in America.’
McKenna, C. Federal Bar Association, Palm
Beach, Florida (September 2010). ‘A History
of White Collar Crime and the Fall of Financial
Markets.’
Polo, A. Law & Finance Roundtable, Saïd
Business School, University of Oxford (June
2010). ‘Regulatory Sanctions and Reputational
Damage in Financial Markets.’
WORKING PAPERS
JOURNALS
Barron, D. and Rolfe, M. Measuring
Reputation. Oxford University Centre for
Corporate Reputation Working Paper.
Harvey, W.S. and Morris, T. (under review*).
How do University of Oxford students form
reputations of companies?
Polo, A. Conference on Empirical Legal
Studies, Yale University (November 2010).
‘Regulatory Sanctions and Reputational
Damage in Financial Markets.’
Harvey, W. and Morris, T. How are reputation
and quality built within management
consultancy firms? Oxford University Centre for
Corporate Reputation Working Paper.
Harvey, W.S. and Morris, T. (under
review*). Definitions, networks, signals
and stakeholders. Linking organizational
communication to corporate reputation.
Polo, A. Anton Philips Workshop, Tilburg
University (December 2010). ‘Regulatory
Sanctions and Reputational Damage in
Financial Markets.’
Morrison, A. D. and Wilhelm Jr., W. J.
Computerization and the ABACUS: Reputation,
Trust, and Fiduciary Responsibility in
Investment Banking. Oxford University Centre
for Corporate Reputation Working Paper.
New, S.J. (2010). The Transparent Supply
Chain. Harvard Business Review. 28/10: 76-82.
Rolfe, M. American Political Science
Association Annual Meeting (September
2010). ‘The Social Dynamics of Opinion
Change.’
Yogev, T. Sociology and Anthropology
Departmental Seminar Series, The Hebrew
University of Jerusalem (November 2010).
'Value and Status in Uncertain Conditions:
The Case of the Contemporary Art Market.’
Morrison, A. D. and White, L. Reputational
Contagion and Optimal Regulatory
Forebearance. ECB Working Paper 1196.
Randeree, K. An Exploration of Reputation
Within Major Programme Management, Oxford
University Centre for Corporate Reputation
Working Paper.
Yakis-Douglas, B. and Whittington, R. The
communication advantage: Investigating
impacts of strategy announcements. Oxford
University Centre for Corporate Reputation
Working Paper.
Yogev, T. (2010). The Social Construction of
Quality: Status Dynamics in the Market for
Contemporary Art. Socio-Economic Review
8:511-536.
*Journal title withheld for purposes of blind
review process
REPORTS
David-Barrett, E. Avoiding Corruption Risks
in the City: The Bribery Act 2010, City of
London Corporation Special Interest Paper.
36
OXFORD UNIVERSITY Centre for CORPORATE REPUTATION
Oxford University
Centre for Corporate Reputation
Saïd Business School
Park End Street
Oxford OX1 1HP
United Kingdom
T: +44 (0)1865 288900
F: +44 (0)1865 278820
www.sbs.oxford.edu/reputation