In 2002, Congress passed the Sarbanes-Oxley Act, which requires firms to assess internal controls and report internal control weaknesses. My study examines the causes and consequences of material weaknesses (MW) reported under Section 302 of SOX. First, I investigate whether firms that report MW are associated with less effective audit committees and boards of directors. Using 184 firms that reported MW and a matched-pair sample of control firms, I find that firms with lower audit committee financial expertise, smaller audit committees, and lower board independence are more likely to have MW. Second, I examine whether the managerial labor market imposes penalties on top management, audit committees, and boards of directors for internal control failures. I find that MW firms have significantly higher turnover of their audit committee members and outside directors than the control firms following the MW detection. Audit committee members and outside directors in the MW firms also lose more outside directorships than their counterparts in the control firms. Additional analyses show that the extent of reputational penalties increase with the severity of the MW detected. Third, I examine whether the MW firms improve their governance structures upon the MW detection. The results indicate that MW firms experience greater improvement in their governance structures than the control firms. By the second year following the MW detection, the MW and control firms no longer differ in terms of audit committee independence, audit committee financial expertise, audit committee size, and board independence. Last, I examine whether the market reacts positively to the improvement in governance structures. I find a positive relation between the two-year buy-and-hold abnormal returns and the MW firms improvement in audit committee size and board independence. This result is consistent with the improvement in governance structures restoring investor confidence in financial reporting.

Guerrilla marketing is a relatively new way of doing marketing. It is initially used by small companies and/or individuals allowing them to act like large companies. However, more and more large companies use Guerrilla marketing these days. The usage of Guerrilla management can bring advantages but can also increase risks. At this moment little research is done about the way how large companies manage the reputational risk associated with Guerrilla marketing. This is a problem in both science and practise. The purpose of this thesis is therefore to contribute to the understanding of how large companies manage the possible reputational risk that Guerrilla marketing and the communication of Guerrilla marketing brings along. This research is based on several theories, both emerging and dominant about Guerrilla marketing, Viral Marketing, Buzz marketing, Reputational risk and Reputational Risk Management. To do the research, in-depth interviews were held with experts when it comes to managing reputational risk and new marketing tools of four large companies based in Sweden. The analyses show that large companies manage the increasing reputational risks in some extend. Main findings are that the companies do not monitor Guerrilla marketing processes and do not have a central coordination for reputational risk management. This shows that not all companies are really aware of the risk that new marketing tools bring along and do not have a solid reputational risk management.

In the first chapter, I investigate reputational effects of the disclosure of negative information in a market affected by adverse selection. A series of recent discoveries has increased consumer concern over the presence of counterfeits in the market for fine and rare wine. For the thousands of bottles sold at auction each year, house reputation is used as a quality assurance mechanism to signal product authenticity. Using sales data from 2005-2015 for the ten largest auction houses, I study consumer reaction following two recent disclosures of an auction house having offered or sold counterfeit wine. My identification strategy to examine reputation involves a series of triple difference regressions analyzing equilibrium prices and quantities. I discover one house experienced no losses following a 2008 incident involving 107 counterfeit bottles. However, three houses associated with a 2012 incident involving thousands of bottles were found to have suffered significant reputation losses following the incident. These losses are demonstrated by a 3-8% decrease in equilibrium sales prices and a 6-9% decrease in sales quantities in the year following the disclosure. The second chapter of my dissertation involves the transitivity of stated preferences. Revealed preference theory states that, in order for an individual’s preferences to be consistent with utility maximization, they must satisfy the principle of transitivity. Any deviations from this principle result in a logically inconsistent response pattern. I develop a new framework to study the rationality of stated preferences, accounting for both the number and severity of non-transitive responses an individual makes. I implement this method using a nationally representative survey of 3,234 respondents from the U.S. general population and discover that more than 52% of the population exhibit non-transitive preferences. In addition to measuring the number and severity of non-transitive preferences exhibited by each respondent, another aim of this manuscript is to evaluate the relationship between response transitivity and the individual outcomes of each respondent under the premise that high quality decisions are the result of greater decision-making ability. After controlling for demographic characteristics including age, education, race, gender, ethnicity, and work status, non-transitive patterns are correlated with lower incomes and poorer health.

This thesis seeks to explore and understand the appointment process of first-time FTSE 100 NEDs. It has been widely acknowledged for over three decades that the appointment process of NEDs is an opaque process involving a homogeneous group of people in an ‘old boys’ network. Corporate governance reforms recommend a formal and transparent appointment process which taps into a wider pool of talent. Companies comply with these recommendations yet there has been scant change in the composition of corporate boards. The pilot study consisted of nine interviews with the main stakeholders in the appointment process of a NED, namely Chairman, Executive Search Firms and NEDs. Analysis of the interview transcripts revealed that reputational capital was the basis on which a first-time NED appointment was made after the Chairman had carried out an extensive vetting process to establish the fit of the individual. The main study, based on 15 first-time FTSE 100 NED interviews, sought to understand reputational capital, its constituent parts and how individuals developed it. Further, it sought to explore how an individual’s fit for a NED was established. The analysis revealed that the reputational capital of an appointed NED was a blend of sufficient levels of human, social and cultural capital which had been communicated to the Chairman and other members of the corporate elite. A first-time NED, in gaining a foothold on a corporate board was also entitled to membership of the corporate elite. As reputational capital drives success of directors in the corporate elite, new individuals needed to fit with the norms and values appropriate for membership and carry no reputational risk for existing members particularly the Chairman. This research offers three main contributions to the literature. Firstly, at a theoretical level it extends the concept of board capital to include cultural capital in addition to human and social capital. Secondly, it proposes a conceptual framework which demonstrates how an individual builds reputational capital over the course of a career to secure fit for a first- time NED, as a position in the corporate elite. The framework clarifies our understanding of reputational capital as a combination of human, social and cultural capital in a unique blend of board capital. This board capital is communicated through reputation building activities to members of the corporate elite. Thirdly, at an empirical level it provides an understanding of the FTSE 100 NED appointment process.

A thesis submitted to the Faculty of Arts in fulfillment of the requirements for the Degree of Doctor of Philosophy in the Department of Communication Science at the University of Zululand, 2017 / The South African education system requires urgent intervention to improve the quality of its tarnished image. The Department of Basic Education has been criticised and referred to as a national catastrophe which is characterised by pockets of disasters by Basic Education Minister Angie Motshekga. There are numerous challenges and crises which diminish the image of the Department of Basic Education. The media has further influenced the negative perception by stakeholders of the education system leaving the reputation of the Department of Basic Education and local schools tarnished. This thesis examines how reputational management could be used to promote the image of basic education in uThungulu. The first part of the study reviews literature on reputation management, media effects, crisis management, challenges and strategies for reputation management. Subsequent chapters describe the construction of a survey instrument employed to measure and evaluate the relevance of reputation management at public schools. A questionnaire was used to glean information about impact of utilising reputation management to improve Basic Education. Staff from the uThungulu district municipality, as well as, members of the local community responded to the questionnaire. MoonStats was used to organise data from the questionnaire into logical, sequential and meaningful categories. Further, MoonStats and Excel assisted in generating descriptive statistics, graphs and bivariate statistics which made it easier to compare variables. Penultimate chapters blend the insights gained from the literature review to interpret the results obtained through the study. Among other issues, it was interesting to note both sample groups agreed that local schools and the Department of Basic Education are faced with numerous crises and challenges which diminishes its reputation, therefore, it was recommended that the implementation of effective reputational management communication strategies will actively address these issues and restore a positive image within the Department of Basic Education.

With few previous data and literature based on the South African banking sector, the key aim of this study was to contribute further results concerning the effect of operational loss events on the reputation of South African banks. The main distinction between this study and previous empirical research is that a small sample of South African banks listed on the JSE, between 2000 and 2014 was used. Insurance companies fell outside the scope of the study. The study primarily focused on identifying reputational risk among Regal Treasury Bank, Saambou Bank, African Bank and Standard Bank. The events announced by these banks occurred between 2000 and 2014. The precise date of the announcement of the operational events was also determined. Stock price data were collected for those banks that had unanticipated operational loss announcements (i.e. the event). Microsoft Excel models applied to the reputational loss as the difference between the operational loss announcement and the loss in the stock returns of the selected banks. The results indicated significant negative abnormal returns on the announcement day for three of the four banks. For one of the banks it was assumed that the operational loss was not significant enough to cause reputational risk. The event methodology similar to previous literature, furthermore examined the behaviour of return volatility after specific operational loss events using the sample of banks. The study further aimed at making two contributions. Firstly, to analyse return volatility after operational loss announcements had been made among South African banks, and secondly, to compare the sample of affected banks with un-affected banks to further identify whether these events spilled over into the banking industry and the market. The volatility of these four banks were compared to three un-affected South African banks. The results found that the operational loss events for Regal Treasury Bank and Saambou Bank had no influence on the unaffected banks. However the operational loss events for African Bank and Standard Bank influenced the sample of unaffected banks and the Bank Index, indicating systemic risk.

With few previous data and literature based on the South African banking sector, the key aim of this study was to contribute further results concerning the effect of operational loss events on the reputation of South African banks. The main distinction between this study and previous empirical research is that a small sample of South African banks listed on the JSE, between 2000 and 2014 was used. Insurance companies fell outside the scope of the study. The study primarily focused on identifying reputational risk among Regal Treasury Bank, Saambou Bank, African Bank and Standard Bank. The events announced by these banks occurred between 2000 and 2014. The precise date of the announcement of the operational events was also determined. Stock price data were collected for those banks that had unanticipated operational loss announcements (i.e. the event). Microsoft Excel models applied to the reputational loss as the difference between the operational loss announcement and the loss in the stock returns of the selected banks. The results indicated significant negative abnormal returns on the announcement day for three of the four banks. For one of the banks it was assumed that the operational loss was not significant enough to cause reputational risk. The event methodology similar to previous literature, furthermore examined the behaviour of return volatility after specific operational loss events using the sample of banks. The study further aimed at making two contributions. Firstly, to analyse return volatility after operational loss announcements had been made among South African banks, and secondly, to compare the sample of affected banks with un-affected banks to further identify whether these events spilled over into the banking industry and the market. The volatility of these four banks were compared to three un-affected South African banks. The results found that the operational loss events for Regal Treasury Bank and Saambou Bank had no influence on the unaffected banks. However the operational loss events for African Bank and Standard Bank influenced the sample of unaffected banks and the Bank Index, indicating systemic risk.

The number of women farmers in the United States is increasing at a substantial rate. Women are fulfilling various roles on the farm and stepping into formal leadership positions in the agricultural community. This study surveys the perception of women reputational leaders in Kentucky agriculture among traditional agricultural leaders, the opportunities available to women in agriculture, the sources empowering women to serve in leadership capacities in agriculture, and how women reputational leaders influence agriculture and agricultural policy in Kentucky. The research revealed that the dynamic of Kentucky agriculture is shifting. Women have made significant strides in agriculture as farmers and professionals, resulting in women assuming formal leadership posts at all levels. Findings indicate there are ample opportunities for women in agriculture to receive informal training and education that will benefit their farm operation, but the programs should be designed solely with women’s needs in mind to be effective. Recommendations for further research include an intersectionality study of Kentucky’s women leaders in agriculture, a study of the potency of the Cooperative Extension Service and post-secondary educational institutions for grooming women leaders, and research to help determine why women tend to seek out volunteer roles in agricultural organizations rather than leadership positions.

Thesis (MBA)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: Reputation is “the overall estimation in which a company is held by its constituents. A corporate reputation represents the ’net‘ affective or emotional reaction – good or bad, weak or strong – of customers, investors, employees, and the general public to the company’s name” (Fombrun, 1996: 37). For an organisation to remain competitive, achieve its goals and thrive a favourable reputation is the platform for approval and acceptance by the different stakeholders of the organisation. Reputation is also a way in which companies can attain competitive advantage from other similar organisations by displaying its unique competencies or differences. A good reputation of a company is an intangible asset that plays a major role in a company’s general success. A positive corporate reputation assists with employee recruitment, attracts investors, aid premium pricing and product quality, make financial resources availability easier and constrain the movement of competitors (Watson, 2007: 371). A reputational crisis is “the loss of the common estimation of the good name attributed to an organisation”. In recent years, more companies experienced reputational crises. These crises can occur in the form of a product-harm crisis, a recall crisis or any other form of situation that can damage a company’s reputation and where the company was not prepared for the subsequent events (Booth, 2000: 197). This research paper provides an overview of the Toyota recall crisis to put the events and situation the company faced in context and consequently discusses the current crisis management methods and crisis communication strategies methodology. The argument for the usefulness of a new approach to crisis management, namely the Qualitative Politicised Influence Diagram (QPID) approach, is presented and applied to the Toyota reputational crisis. As companies in the global age of communication, environmental responsibility, the internet and social media experience the snowball effect of any issue that can become a major threat to its reputation, a new approach to the management of a crisis can be of significant value. / AFRIKAANSE OPSOMMING: Reputasie is "wat mense oor die algemeen van 'n maatskappy dink. 'n Maatskappy se reputasie verteenwoordig die ‘netto’ affektiewe of emosionele reaksie – goed of sleg, swak of sterk – wat kliënte, beleggers, werknemers, en die algemene publiek aan die maatskappy se naam koppel" (Fombrun; 1996:37). Vir 'n organisasie om kompeterend te bly, om sy doelwitte te bereik en te floreer, moet hy 'n gunstige reputasie hê om deur die verskillende belanghebbendes van die organisasie goedgekeur en aanvaar te word. Reputasie is ook 'n manier waarop maatskappye 'n mededingende voordeel kan verkry teenoor ander soortgelyke organisasies deur hulle unieke vaardighede of verskille te vertoon. 'n Maatskappy se goeie reputasie is 'n ontasbare bate wat 'n belangrike rol speel in sy algemene sukses. 'n Positiewe korporatiewe reputasie help om nuwe werknemers te werf, beleggers te lok, premiepryse en produkkwaliteit te ondersteun, die beskikbaarstelling van finansiële hulpbronne makliker te maak, en die beweging van mededingers te beperk (Watson, 2007:371) 'n Reputasiekrisis is wanneer "'n organisasie die algemene mening dat hy 'n goeie naam het, verloor". Die afgelope paar jaar ervaar al hoe meer maatskappye reputasiekrisisse. Hierdie krisisse kan in die vorm wees van 'n produk wat skade kan veroorsaak, 'n produk wat herroep moet word, of enige ander soort situasie wat 'n maatskappy se reputasie nadelig kan beïnvloed, waar die maatskappy nie voorbereid is op die daaropvolgende gebeure nie (Booth, 2000:197). Hierdie navorsing gee 'n oorsig oor Toyota se herroep-krisis ten einde die gebeure en die situasie wat die maatskappy in die gesig gestaar het, in konteks plaas, en bespreek daarna die huidige krisisbestuurmetodes en krisiskommunikasiestrategiemetodologie. Daar word geargumenteer waarom 'n nuwe benadering tot krisisbestuur, naamlik die “Qualitative Politicised Influence Diagram” (QPID), nuttig sal wees, en genoemde benadering word op Toyota se reputasiekrisis toegepas. Soos maatskappye in hierdie era van globale kommunikasie, omgewingsverantwoordelikheid, die internet en sosiale media die sneeubaleffek ervaar van enige kwessie wat 'n groot bedreiging vir 'n maatskappy se reputasie kan inhou, kan 'n nuwe benadering tot die bestuur van 'n krisis uiters waardevol wees.

This thesis seeks to explore and understand the appointment process of first-time FTSE 100 NEDs. It has been widely acknowledged for over three decades that the appointment process of NEDs is an opaque process involving a homogeneous group of people in an ‘old boys’ network. Corporate governance reforms recommend a formal and transparent appointment process which taps into a wider pool of talent. Companies comply with these recommendations yet there has been scant change in the composition of corporate boards. The pilot study consisted of nine interviews with the main stakeholders in the appointment process of a NED, namely Chairman, Executive Search Firms and NEDs. Analysis of the interview transcripts revealed that reputational capital was the basis on which a first-time NED appointment was made after the Chairman had carried out an extensive vetting process to establish the fit of the individual. The main study, based on 15 first-time FTSE 100 NED interviews, sought to understand reputational capital, its constituent parts and how individuals developed it. Further, it sought to explore how an individual’s fit for a NED was established. The analysis revealed that the reputational capital of an appointed NED was a blend of sufficient levels of human, social and cultural capital which had been communicated to the Chairman and other members of the corporate elite. A first-time NED, in gaining a foothold on a corporate board was also entitled to membership of the corporate elite. As reputational capital drives success of directors in the corporate elite, new individuals needed to fit with the norms and values appropriate for membership and carry no reputational risk for existing members particularly the Chairman. This research offers three main contributions to the literature. Firstly, at a theoretical level it extends the concept of board capital to include cultural capital in addition to human and social capital. Secondly, it proposes a conceptual framework which demonstrates how an individual builds reputational capital over the course of a career to secure fit for a first- time NED, as a position in the corporate elite. The framework clarifies our understanding of reputational capital as a combination of human, social and cultural capital in a unique blend of board capital. This board capital is communicated through reputation building activities to members of the corporate elite. Thirdly, at an empirical level it provides an understanding of the FTSE 100 NED appointment process.