The portfolios with strong brand value: More returns? Lower risk?
This study focuses on the brand value-shareholder return relationship using the approach of Madden et al. (2006) based on Aaker (1991) and compares “Strong Brands Portfolio”, created through brand values in “Turkey's Most Valuable Brands” annual report of Brand Finance published between 2007-,...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2020-03-01
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| Series: | Borsa Istanbul Review |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214845019302789 |
| _version_ | 1811200273700356096 |
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| author | Semra Bank Evrim Erdogan Yazar Ugur Sivri |
| author_facet | Semra Bank Evrim Erdogan Yazar Ugur Sivri |
| author_sort | Semra Bank |
| collection | DOAJ |
| description | This study focuses on the brand value-shareholder return relationship using the approach of Madden et al. (2006) based on Aaker (1991) and compares “Strong Brands Portfolio”, created through brand values in “Turkey's Most Valuable Brands” annual report of Brand Finance published between 2007-, 2015, within alternative benchmark portfolio in terms of risk and return. In this context, although the analysis made by different weighting methods over asset pricing models has found that a portfolio of strong brands may provide significant abnormal returns with significantly lower market risk for shareholders, it is understood that the brand values published by Brand Finance are not fully priced in the Turkish stock market by considering the magnitude of that value. Keywords: Shareholder return, Portfolio analysis, Brand value, Brand equity, JEL classification: M31, G11, G12 |
| first_indexed | 2024-04-12T02:02:01Z |
| format | Article |
| id | doaj.art-00bc61e6a4df4e23945a394ee75cfcb0 |
| institution | Directory Open Access Journal |
| issn | 2214-8450 |
| language | English |
| last_indexed | 2024-04-12T02:02:01Z |
| publishDate | 2020-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Borsa Istanbul Review |
| spelling | doaj.art-00bc61e6a4df4e23945a394ee75cfcb02022-12-22T03:52:39ZengElsevierBorsa Istanbul Review2214-84502020-03-012016479The portfolios with strong brand value: More returns? Lower risk?Semra Bank0Evrim Erdogan Yazar1Ugur Sivri2Faculty of Economics and Administrative Sciences, Department of Business Administration, Karadeniz Technical University, Trabzon, 61080, TurkeyFaculty of Economics and Administrative Sciences, Department of Business Administration, Ondokuz Mayis University, Samsun, 55139, Turkey; Corresponding author.Faculty of Economics and Administrative Sciences, Department of Economics, Recep Tayyip Erdogan University, Rize, 53100, TurkeyThis study focuses on the brand value-shareholder return relationship using the approach of Madden et al. (2006) based on Aaker (1991) and compares “Strong Brands Portfolio”, created through brand values in “Turkey's Most Valuable Brands” annual report of Brand Finance published between 2007-, 2015, within alternative benchmark portfolio in terms of risk and return. In this context, although the analysis made by different weighting methods over asset pricing models has found that a portfolio of strong brands may provide significant abnormal returns with significantly lower market risk for shareholders, it is understood that the brand values published by Brand Finance are not fully priced in the Turkish stock market by considering the magnitude of that value. Keywords: Shareholder return, Portfolio analysis, Brand value, Brand equity, JEL classification: M31, G11, G12http://www.sciencedirect.com/science/article/pii/S2214845019302789 |
| spellingShingle | Semra Bank Evrim Erdogan Yazar Ugur Sivri The portfolios with strong brand value: More returns? Lower risk? Borsa Istanbul Review |
| title | The portfolios with strong brand value: More returns? Lower risk? |
| title_full | The portfolios with strong brand value: More returns? Lower risk? |
| title_fullStr | The portfolios with strong brand value: More returns? Lower risk? |
| title_full_unstemmed | The portfolios with strong brand value: More returns? Lower risk? |
| title_short | The portfolios with strong brand value: More returns? Lower risk? |
| title_sort | portfolios with strong brand value more returns lower risk |
| url | http://www.sciencedirect.com/science/article/pii/S2214845019302789 |
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