engleski

The Role of Firm Reputation in Corporate Governance Processes

ABSTRACT: The paper deals with the idea of building more efficient and effective system of corporate governance by making use of the corporate reputation potential. Corporate governance is viewed as an integrative system of stakeholders’ relations as well as a form of meta-management that joins legal, financial, ethical and organizational issues of the firm performance. On the other side, corporate reputation is regarded as a multidimensional phenomena and unique strategic relational resource, able to provide assistance in achieving various goals of a company, as well as in shaping the preferable kind of relations with its numerous stakeholder groups. By examining its mediating role in the company's interaction with its ecosystem, the aim of the paper is revealing the powerful role of corporate reputation in the corporate governance processes. While the relevant literature is very ample, such a paradigm has not been constructed up till now. Beside, an integrated strategic approach to corporate reputation is still blurred. This article is aiming to fill those important gaps by proposing the strategic corporate reputation framework and an enriched reputation taxonomy that allows for shaping a reputational capability, an emerging integrated corporate governance mechanism, designed as a driver of the firm's market and non-market based competitiveness and suitable for auditing quality of the firm governance system, as well. Starting with the corporate governance theoretical background and shading lights on paradoxes of companies’ goals plethora, the paper continues with strategic approach to corporate reputation, and concludes with some potentially useful managerial implications. The empirical research results analysis that supports the insights proposed will be presented.

Corporate Reputation; Corporate Governance; Strategic Stakeholder Management

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