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ANNUAL REVIEW 2010

Saïd Business SchoolUNIVERSITY OF OXFORD

ANNUAL REVIEW 2010

OXFORD UNIVERSITY

CENTRE FOR CORPORATE REPUTATION

02 OXFORD UNIVERSITY CENTRE FOR CORPORATE REPUTATION ANNUAL REVIEW 2010 03

CONTENTS

OXFORD UNIVERSITY CENTRE FOR CORPORATE REPUTATIONSaïd Business SchoolPark End StreetOxford OX1 1HPUnited KingdomT: +44 (0) 1865 288900F: +44 (0) 1865 278820

www.sbs.oxford.edu/reputation

WELCOMEWelcome 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.

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

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 YoungerDirector

Rupert Younger, Director

03 WELCOME FROM THE DIRECTOR04 OUR PEOPLE06 RESEARCH AND PROJECTS21 CASE STUDIES22 REPUTATION SYMPOSIUM 201026 EDUCATION 27 INTERNATIONAL RESEARCH FELLOWS30 VISITING PROFESSOR31 VISITING FELLOWS32 PRINCIPAL EVENTS 2010 34 APPENDIX PUBLICATIONS: JOURNALS; CONFERENCE PAPERS; SEMINARS, WORKSHOPS,

LECTURES AND INVITED PRESENTATIONS; WORKING PAPERS.

OUR PEOPLE CENTRE EXECUTIVERupert 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.

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.

RESEARCH STAFFDr Liz Dávid-Barrett joined the Centre in

October 2010 as a Research Fellow working

with Dr Christopher McKenna.

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


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


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.

ASSOCIATESDr 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.


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 RELATIONALCorporations 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 REPUTATIONSCorporations have a reputation FOR something

WITH someone, and therefore have MULTIPLE

reputations. Furthermore, these reputations

may conflict or contradict each other.

REPUTATION SIGNALS HAVE VALUEThe 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 INTERMEDIATEDReputation 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.

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

REPUTATION AND RELATIONS: THE DYNAMICS OF REPUTATION FORMATION Dr Meredith Rolfe and Dr David Barron, Oxford

University Centre for Corporate Reputation,

Saïd Business School

Professor Thomas H Noe Dr Meredith Rolfe

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.

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 overlookedaspect of reputation: perceived political power and standing inthe public sphere. Using a combination of national surveys and experimental protocols, we are able to explore these questions and others.

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.”

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.”


ANNUAL REVIEW 2009/10 1110 OXFORD UNIVERSITY CENTRE FOR CORPORATE REPUTATION

Milena MuellerDr Liz Dávid Barrett

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

CSR INNOVATION AND CORPORATE REPUTATION: A CROSS-CULTURAL PERSPECTIVE Dr Kunal Basu and Milena Mueller, Oxford


Saïd Business School; with Sourav Mukherji,

Associate Professor, Organizations & Strategy,

Indian Institute of Management, Bangalore

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.

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.

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.”

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.”

Dr Kasim Randeree

THE IMPACT OF MAJOR PROGRAMME FAILURE ON CORPORATE REPUTATIONDr Kasim Randeree, BT Centre,


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.”

CORPORATIONS HAVE MULTIPLE REPUTATIONS continued


Dr Will Harvey

LABOUR MARKETS AND GLOBAL TALENT Dr Will Harvey and Professor Tim Morris,


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.”

Dr Aaron ThegeyaDr Steve New

REPUTATION SIGNALS HAVE VALUE

CORPORATE REPUTATION AND THE SUPPLY CHAIN: PROVENANCE, TRACEABILITY AND INFORMATION Dr Steve New and Dr Tamar Yogev, Oxford



INVESTMENT BANKING STRUCTURE AND REPUTATIONProfessor 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

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.

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.

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.”

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.”


Andrea PoloDr Basak Yakis-Douglas

STRATEGY COMMUNICATIONS: ADOPTION, CONTENT AND IMPACTSProfessor Richard Whittington, New College

& Saïd Business School, University of Oxford

and Dr Basak Yakis-Douglas, Oxford University

Centre for Corporate Reputation, Saïd Business

School

USING REPUTATIONAL SANCTIONS TO ENFORCE CORPORATE REGULATIONProfessor 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

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 share-prices and analyst and media commentary.

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.

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.”

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.”

REPUTATION SIGNALS HAVE VALUE continued


REPUTATION IS INTERMEDIATED


Dr Jonathan Silberstein-Loeb

BUSINESS JOURNALISM AND CORPORATE DECISION MAKING Dr Jonathan Silberstein-Loeb,



This project aims to address the way in which the media, as a high status reputation intermediary, impacts corporate decision-making, 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 cross-

cultural comparisons."

Ken Okamura

CORPORATE REPUTATION IN BANKINGDr Ken Okamura and Professor Alan Morrison,



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.”

REPUTATION SIGNALS HAVE VALUE continued

Dr Christopher McKenna

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



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.”

REPUTATION IS INTERMEDIATED continued


CASE STUDIES

Rowena Olegario

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.

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.

REPUTATION SYMPOSIUM 2010


WAVING THE FLAG: THE INFLUENCE OF COUNTRY OF ORIGIN ON CORPORATE REPUTATION William Newburry, Knight Ridder Research

Professor, College of Business Administration,

Florida International University

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 Kimberly D. Elsbach, Professor of

Management, Stephen G. Newberry Chair in

Leadership, Graduate School of Management,

University of California

CREATING LEADING CORPORATE REPUTATIONS THROUGH CORPORATE BRANDING: THE CASE OF NOVO NORDISK 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

STRATEGIC DISCLOSURE: MANAGING CORPORATE REPUTATION BY BRINGING STRATEGY TO THE FORE Basak Yakis-Douglas, Research Fellow,


Reputation, Saïd Business School, University

of Oxford; Richard Whittington, Professor of

Strategic Management, Saïd Business School,

University of Oxford

AFTER THE FALL: A BEHAVIOURAL THEORY OF REPUTATION REPAIRMooweon 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 PERSPECTIVEChristopher 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 Silberstein-Loeb, 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: CROSS-COUNTRY COMPARISONSGregory 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

REPUTATION SYMPOSIUM 2010 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 David Barron, University Reader in

Organizational Sociology, Saïd Business

School, University of Oxford; Meredith Rolfe,

Senior Research Fellow, Oxford University


Business School , University of Oxford

ON BEING BAD: WHY STIGMA IS NOT THE SAME AS A BAD REPUTATIONYuri Mishina, Assistant Professor of

Management, Eli Broad College of Business,

Michigan State University; Cynthia E. Devers,

Wisconsin School of Business, University of

Wisconsin-Madison

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 ASSETViolina 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

KEEPING SCORE: MEASURES OF CORPORATE REPUTATIONNaomi A. Gardberg, Baruch College – CUNY,

Department of Management; Grahame R. Dowling, Professor, School of Business,

University of Technology, Sydney

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 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

INDUSTRY SELF REGULATION AS A SOLUTION TO REPUTATION COMMONS: A CASE OF THE NEW YORK CLEARING HOUSE ASSOCIATION Lori Qingyuan Yue, Assistant Professor,

Marshall School of Business, University of

Southern California; Paul Ingram, Columbia

Business School, Columbia University

A LABOUR OF LOVE? UNDERSTANDING REPUTATION FORMATION WITHIN THE LABOUR MARKETWilliam Harvey, Research Fellow, Oxford


Saïd Business School, University of Oxford; Tim Morris, Professor of Management Studies, Saïd



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.

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.

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.

INTERNATIONAL RESEARCH FELLOWS

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.

1. Professor Edward BalleisenDuke University

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

4. Professor David DeephouseUniversity of Alberta

School of Business

5. Professor Janet M. DukerichThe University of Texas

at Austin McCombs School

of Business

6. Professor Kimberly ElsbachUniversity of California, Davis

Graduate School of Management

1 2

3 4

5 6

Professor Ron Burt

INTERNATIONAL RESEARCH FELLOWS continued

7

13

8

14

9

15

10

16 17

11 12


SELECTED INTERNATIONAL RESEARCH FELLOW PUBLICATIONS 2010

Balleisen, E. Private Cops on the Fraud

Beat: The Limits of American Business Self-

Regulation, 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.

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.

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.

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.

7. Professor Dietmar FinkBonn-Rhein-Sieg University

of Applied Sciences

8. Professor Guo GuoqingRenmin University of China

9. Professor Gregory Jackson Freie Universität Berlin

10. Professor Jonathan Karpoff Foster School of Business,

University of Washington

11. Professor Christopher KobrakESCP Europe

12. Professor Guido Palazzo HEC, Lausanne

13. Professor Frank PartnoyUniversity of San Diego School

of Law

14. Professor Violina RindovaMcCombs School of Business

The University of Texas at Austin

15. Professor Roland RustRobert H. Smith School of Business,

University of Maryland

16. Professor David VogelUniversity of California, Berkeley

17. Professor Harrie Vredenburg University of Calgary

Professor David Whetten

PROFESSOR DAVID WHETTEN

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.

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.

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.

Sameer Al Ansari

Baroness Valerie Amos

Norman Askew

Brendan Barber

Lionel Barber

John Barton

Roger Carr

Stephen Catlin

Peter Cawdron

Stuart Chambers

Doug Daft

Guy Dawson

Hugo Dixon

Mario Draghi

Terry Duddy

Steve Easterbrook

Phil Evans

Bill Forrester

Philippa Foster Back OBE

Sir Roy Gardner

Sergey Generalov

Anthony Gordon Lennox

Andrew Gowers

Lord Tony Grabiner QC

Andrew Grant

Tony Habgood

Andy Haste

Andy Hornby

Johannes Huth

Mary Jo Jacobi

Lord Robin Janvrin

Lady Barbara Judge

Fred Kempe

Justin King

John Kingman

Will Lawes

Allan Leighton

Carol Leonard

Bo Lerenius

Simon Lewis

Simon Lorne

Stefano Lucchini

Sir Laurie Magnus

David Mansfield

David Mayhew

Dr Thomas Middelhoff

Raymond Nasr

Torsten Oltmanns

Sir John Parker

Mike Parker

Tim Parker

Roger Parry

John Peace

Sir Ian Prosser

Sir Michael Rake

Jeff Randall

Don Robert

Sir Steve Robson

Manny Roman

Sir Stuart Rose*

Roland Rudd

Robin Saunders

Dr Paolo Scaroni

Prof Dr Burkhard Schwenker*

Sir Martin Sorrell

Oliver Stocken

Robert Swannell

John Tiner

David Tyler

Lucas Van Praag

Mark Warham

Sara Weller

Patience Wheatcroft

David Wighton

Bob Wigley

John Witherow

Rupert Younger

Gerhard Zeiler

VISITING PROFESSOR

VISITING FELLOWS


* New appointments in 2010

MARCHTheory workshop. Professional Service Firms.

Speaker, Professor Tim Morris

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)

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

MAYSeminar 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

JUNEArrival of Visiting Academic Jose Galan,

University of Salamanca

Seminar Series: Internationalisation and Brand

Protection in British Business: Insights from

Business History. Speaker, Teresa da Silva Lopes, University of York

SEPTEMBERExecutive 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


Reputation Symposium 2010, Jesus College,

Oxford (see details on page 22)

Appointment of Visiting Professor David Whetten

NOVEMBER Seminar Series: Reputation and the

company in nineteenth-century Britain.

Speaker, Dr James Taylor, Lancaster

University

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,


Business School, University of Oxford.

Discussant, Dr Kevin Money, Director of

The John Madejski Centre for Reputation,

Henley Business School, University of

Reading

DECEMBERSeminar: The Economics of Reputation

Reformation. Presenter, Dr Thomas Noe,


Business School, University of Oxford.

Discussant, Professor Alan Morrison,



JANUARYDistinguished Speaker


Fellow, Johannes Huth.

Corporate governance

and reputation from the

perspective of a private

equity practitioner

FEBRUARYSeminar 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


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

PRINCIPAL EVENTS 2010


PUBLICATIONSREFEREED CONFERENCE PAPERSBarron, 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


Harvey, W.S. and Morris, T. (2010). ‘A

Labour of love? Understanding reputation

formation within the labour market.’ Centre for


Noe T. (2010). ‘The economics of reputation

formation.’ Centre for Corporate Reputation

Symposium.

Olegario, R., McKenna, C. and Silberstein-Loeb, 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, 1893-

1945', 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, 1893-

1945', 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 PRESENTATIONSHarvey, 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.’

Polo, A. Conference on Empirical Legal

Studies, Yale University (November 2010).

‘Regulatory Sanctions and Reputational

Damage in Financial Markets.’

Polo, A. Anton Philips Workshop, Tilburg

University (December 2010). ‘Regulatory

Sanctions and Reputational Damage in

Financial Markets.’

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.’

WORKING PAPERSBarron, D. and Rolfe, M. Measuring

Reputation. Oxford University Centre for

Corporate Reputation Working Paper.

Harvey, W. and Morris, T. How are reputation

and quality built within management

consultancy firms? Oxford University Centre for

Corporate Reputation Working Paper.

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.

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.

JOURNALSHarvey, W.S. and Morris, T. (under review*).

How do University of Oxford students form

reputations of companies?

Harvey, W.S. and Morris, T. (under

review*). Definitions, networks, signals

and stakeholders. Linking organizational

communication to corporate reputation.

New, S.J. (2010). The Transparent Supply

Chain. Harvard Business Review. 28/10: 76-82.

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

REPORTSDavid-Barrett, E. Avoiding Corruption Risks

in the City: The Bribery Act 2010, City of

London Corporation Special Interest Paper.


OXFORD UNIVERSITY CENTRE FOR CORPORATE REPUTATION


Park End Street

Oxford OX1 1HP

United Kingdom

T: +44 (0)1865 288900

F: +44 (0)1865 278820

www.sbs.oxford.edu/reputation

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