Media Reputation as a Strategic Resource: An Integration of Mass Communication and Resource-Based Theories

Abstract

The resource-based view proposes that reputation is a resource leading to competitive advantage. Past research tested this by using Fortune ratings to measure reputation, but these ratings are theoretically weak. This paper integrates mass communication theory into past research to develop a concept called media reputation, defined as the overall evaluation of a firm presented in the media. Theoretical and empirical analyses indicate that media reputation is a resource that increases the performance of commercial banks.