중소기업의 평판도 우수기업 선정이 기업가치에 미치는 영향

We examine the impact of consumer perceptions and assessments of goods and services produced by the entity, i.e. reputation index, on firm value. We select major reputation indexes in Korea and review the details of the announcements, and conduct analysis on how small and medium-sized enterprises can use them to strengthen their business activities and corporate value. The content of the six reputation indexes published in Korea and the selected SMEs are examined as sample firms. Empirical data are collected to investigate the impact of the reputation level on annual corporate value and announcement of the reputation award on short-term market value and to analyze how the reputation enhancement strategy actually works in the market. The empirical results find that the higher reputation indexes have positive impact on firm value, which is meaningful way to enhance the market value of small and medium-sized enterprises. Selection of small and medium-sized enterprises with excellent reputation has been found to have a significant positive impact on their management performance after the relevant period. In other word, there is a significant relationship between good reputation and firm value. The results suggest that it is necessary to have a management strategy to increase reputation power by establishing a clear identity and establishing trust from the beginning of brand introduction. To the extent the reputation power is linked with the firm value, our results suggest that corporate reputation can be an important measure to enhance the value of the firm.