An empirical investigation of the relationship between brand value and firm value: Evidence from Turkey

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dc.authoridDoruk, Omer Tugsal/0000-0002-2382-1042
dc.authoridKONUK, SERHAT/0000-0003-1208-5112
dc.contributor.authorKonuk, Serhat
dc.contributor.authorDoruk, Omer Tugsal
dc.contributor.authorOnal, Yildirim Beyazit
dc.date.accessioned2025-01-06T17:36:44Z
dc.date.available2025-01-06T17:36:44Z
dc.date.issued2023
dc.description.abstractThis paper aims to investigate the relationship between brand value and firm value by using a two-step approach. In the first step, we use the financial-based brand valuation model (FBVEM) to obtain the brand value of firms that operated in the Turkish manufacturing industry during the period between 2014 and 2018. In the second step, we examine the effect of brand value on Tobin's Q. In doing so, we use a novel GMM, with a measurement errors model, which takes into account mismeasurements of the financial variables. We try to get an accurate estimation of the link between brand value and Tobin's Q in our analysis. The obtained findings show that the effect of brand value on firm value is positive in the Turkish manufacturing sector. Our results remain stable after robustness checks. This is the first well-controlled study that considers the endogeneity problem and consequent measurement errors in the relationship between brand value and firm value.
dc.identifier.doi10.1002/ijfe.2915
dc.identifier.issn1076-9307
dc.identifier.issn1099-1158
dc.identifier.scopus2-s2.0-85178469510
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1002/ijfe.2915
dc.identifier.urihttps://hdl.handle.net/20.500.14669/1983
dc.identifier.wosWOS:001111448800001
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherWiley
dc.relation.ispartofInternational Journal of Finance & Economics
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241211
dc.subjectbrand value
dc.subjectemerging countries
dc.subjectGMM with mismeasurement error
dc.subjectTobin's Q
dc.titleAn empirical investigation of the relationship between brand value and firm value: Evidence from Turkey
dc.typeArticle

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