Unified brand strategy and operation quality of business group: evidence from stock price crash risk
Under the framework of a reputation governance mechanism, this paper analyzes how the unified brand strategy (UBS) impacts the operation quality of business groups. Evidence indicates that a higher degree of brand unity reduces the stock price crash risk, thereby enhancing operational quality. Cross...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2025-02-01
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| Series: | China Journal of Accounting Studies |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/21697213.2025.2453683 |
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| _version_ | 1832087273789718528 |
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| author | Cheng Zhang Qingsheng Zeng Qinwen Wu |
| author_facet | Cheng Zhang Qingsheng Zeng Qinwen Wu |
| author_sort | Cheng Zhang |
| collection | DOAJ |
| description | Under the framework of a reputation governance mechanism, this paper analyzes how the unified brand strategy (UBS) impacts the operation quality of business groups. Evidence indicates that a higher degree of brand unity reduces the stock price crash risk, thereby enhancing operational quality. Cross-sectional analysis further supports the reputation theory, showing that the negative correlation between UBS and stock price crash risk is significant when the group receives high professional attention and has a strong brand reputation. The study also finds that UBS improves earnings quality, profitability, and earnings sustainability, further boosting operational quality. These findings provide important guidance for China’s rapid and stable development of the brand economy and the construction of a unified national market. |
| format | Article |
| id | doaj-art-d70d183a4a594e88af0b08115a17f015 |
| institution | Kabale University |
| issn | 2169-7213 2169-7221 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | China Journal of Accounting Studies |
| spelling | doaj-art-d70d183a4a594e88af0b08115a17f0152025-02-06T06:49:09ZengTaylor & Francis GroupChina Journal of Accounting Studies2169-72132169-72212025-02-0112910.1080/21697213.2025.2453683Unified brand strategy and operation quality of business group: evidence from stock price crash riskCheng Zhang0Qingsheng Zeng1Qinwen Wu2School of Accountancy & Institute of Accounting and Finance, Shanghai University of Finance and Economics, Shanghai, ChinaSchool of Accountancy & Institute of Accounting and Finance, Shanghai University of Finance and Economics, Shanghai, ChinaPostdoctoral Programme of Bank of Communications, Bank of Communications, Shanghai, ChinaUnder the framework of a reputation governance mechanism, this paper analyzes how the unified brand strategy (UBS) impacts the operation quality of business groups. Evidence indicates that a higher degree of brand unity reduces the stock price crash risk, thereby enhancing operational quality. Cross-sectional analysis further supports the reputation theory, showing that the negative correlation between UBS and stock price crash risk is significant when the group receives high professional attention and has a strong brand reputation. The study also finds that UBS improves earnings quality, profitability, and earnings sustainability, further boosting operational quality. These findings provide important guidance for China’s rapid and stable development of the brand economy and the construction of a unified national market.https://www.tandfonline.com/doi/10.1080/21697213.2025.2453683Unified brand strategybusiness groupreputation governance mechanismstock price crash riskearnings quality |
| spellingShingle | Cheng Zhang Qingsheng Zeng Qinwen Wu Unified brand strategy and operation quality of business group: evidence from stock price crash risk China Journal of Accounting Studies Unified brand strategy business group reputation governance mechanism stock price crash risk earnings quality |
| title | Unified brand strategy and operation quality of business group: evidence from stock price crash risk |
| title_full | Unified brand strategy and operation quality of business group: evidence from stock price crash risk |
| title_fullStr | Unified brand strategy and operation quality of business group: evidence from stock price crash risk |
| title_full_unstemmed | Unified brand strategy and operation quality of business group: evidence from stock price crash risk |
| title_short | Unified brand strategy and operation quality of business group: evidence from stock price crash risk |
| title_sort | unified brand strategy and operation quality of business group evidence from stock price crash risk |
| topic | Unified brand strategy business group reputation governance mechanism stock price crash risk earnings quality |
| url | https://www.tandfonline.com/doi/10.1080/21697213.2025.2453683 |
| work_keys_str_mv | AT chengzhang unifiedbrandstrategyandoperationqualityofbusinessgroupevidencefromstockpricecrashrisk AT qingshengzeng unifiedbrandstrategyandoperationqualityofbusinessgroupevidencefromstockpricecrashrisk AT qinwenwu unifiedbrandstrategyandoperationqualityofbusinessgroupevidencefromstockpricecrashrisk |