Stakeholder Orientation and Corporate Reputation: A Quantitative Study on US Companies *

Intangibles, such as corporate reputation, are increasingly considered the major source for value creation and company success. Given the importance of having a strong corporate reputation, new strategic and operational approaches are emerging to manage it, such as stakeholder-based practices. Relying on extensive data over a period of six years, this study develops and tests the relationship between stakeholder orientation and corporate reputation. Results show that the sign of the relationship is positive and statistically significant, supporting the view that a stakeholder-oriented disclosure strategy can be associated with a series of bottom-line benefits such as an improvement in corporate reputation