Modelling IT brand values supplied by consultancy service companies: empirical evidence for differences
Abstract
Brands are the most precious intangible companies’ assets. Company managers need to know their brand value and the aspects determining it. As no transparent brands market exists, the main objective of this study was to model brand values that the world’s main valuation consultants publish. The obtained results indicate that 80% of the value of these brands is accounted for by both the net results of the companies that own brands and their value on the Stock Exchange. These results allow brand values to be estimated using quantitative and objective information by simple methods, unlike those used by valuation consultants. Moreover, one temporal analysis and another for different industries confer these outcomes consistency.
First published online 18 December 2020
Keyword : brand rankings, brand strength, brand value, intangible asset, net results, Stock Exchange, technology sector
How to Cite
Alcaide, Ángeles ., Guadalajara, N. ., & De La Poza, E. . (2021). Modelling IT brand values supplied by consultancy service companies: empirical evidence for differences. Technological and Economic Development of Economy, 27(1), 120-148. https://doi.org/10.3846/tede.2020.13755
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Cid-López, A., Hornos, M. J., Carrasco, R. A., & Herrera-Viedma, E. (2015). A hybrid model for decision-making in the information and communications technology sector. Technological and Economic Development of Economy, 21(5), 720–737. https://doi.org/10.3846/20294913.2015.1056281
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Damodaran, A. (2012). Investment valuation: Tools and techniques for determining the value of any asset. John Wiley and Sons.
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Dutordoir, M., Verbeeten, F., & De Beijer, D. (2015). Stock price reactions to brand value announcements: Magnitude and moderators. International Journal of Research in Marketing, 32(1), 34–47. https://doi.org/10.1016/j.ijresmar.2014.08.001
Eng, L., & Keh, H. (2007). The effects of advertising and brand value on future operating and market performance. Journal of Advertising, 36(49), 91–100. https://doi.org/10.2753/JOA0091-3367360407
Erdem, T., & Swait, J. (1998). Brand equity as a signaling phenomenon. Journal of Consumer Psychology, 7(2), 131–157. https://doi.org/10.1207/s15327663jcp0702_02
Flisikowski, K., & Kucharska, W. (2018). The condition of economies. Do most valuable global brands matter? Equilibrium. Quarterly Journal of Economics and Economic Policy, 13(2), 251–264. https://doi.org/10.24136/eq.2018.013
González, O., Berenguer, G., & Serra, A. (2019). The impact of value co-creation on hotel brand equity and customer satisfaction. Tourism Management, 75, 51–65. https://doi.org/10.1016/j.tourman.2019.04.024
Guadalajara, N., & López, M. A. (2018). The inflated valuation problem in Valencia, Spain, and implications for firm size. International Journal of Strategic Property Management, 22(4), 300–313. https://doi.org/10.3846/ijspm.2018.4348
Gujarati, D. N. (2003). Basic econometrics (4th ed.). McGraw-Hill.
Haigh, D. (1996). Founder and CEO, brand finance. http://brandfinance.com/who-we-are/our-people/person/david-haigh/
He, Q., Guaita-Martínez, J. M., & Botella-Carrubi, D. (2020). How Brand equity affects firm productivity: The role of R&D and human capital. Economic Research-Ekonomska Istraživanja, 33(1), 2976– 2992. https://doi.org/10.1080/1331677X.2019.1686045
Hirose, Y. (2002). The report of the committee on brand valuation. Ministry of Economy, Trade and Industry (METI). The Government of Japan.
Hoeffler, S., & Keller, K. (2003). The marketing advantage of strong brands. Journal of Brand Management, 10(6), 421–445. https://doi.org/10.1057/palgrave.bm.2540139
Honamardi, Z., Sepasi, S., & Azar, A. (2019). Comparing the impact of brand value on corporate profit in B2B and B2C businesses: A case study. Iranian Journal of Management Studies, 12(1), 121–147. https://doi.org/10.22059/IJMS.2018.261053.673187
Interbrand. (2019). Methodology. https://www.interbrand.com/best-brands/best-global-brands/methodology/
International Financial Reporting Standards (IFRS Standards). (2018). Issued IFRS Standards 2018 (Red Book). https://www.ifrs.org/news-and-events/2018/03/issued-ifrs-standards-2018-red-bookavailable-to-order-now/
International Organization for Standardization. (2010). Brand valuation – Requirements for monetary brand valuation (ISO 10668). https://www.iso.org/standard/46032.html
International Valuation Standards Council. (2017). International Valuation Standards. https://www.ivsc.org/standards/international-valuation-standards
Janoskova, K., & Krizanova, A. (2017). Comparison of selected internationally recognized brand valuation methods. Oeconomia Copernicana, 8(1), 99–110. https://doi.org/10.24136/oc.v8i1.7
Johansson, J. K., Dimofte, C. V., & Mazvancheryl, S. K. (2012). The performance of global brands in the 2008 financial crisis: A test of two brand value measure. International Journal of Research in Marketing, 29(3), 235–245. https://doi.org/10.1016/j.ijresmar.2012.01.002
Juliá-Igual, J. F., Cervelló-Royo, R., & Berné-Lafuente, I. (2017). Market value analyses of a Chinese e-commerce holding group: A multicriteria approach. Service Business, 11(3), 475–490. https://doi.org/10.1007/s11628-016-0316-3
Kamakura, W. A., & Russell, G. J. (1993). Measuring brand value with scanner data. International Journal of Research in Marketing, 10(1), 9–22. https://doi.org/10.1016/0167-8116(93)90030-3
Kantar. (2019). Millward Brown. http://www.millwardbrown.com/brandz/rankings-and-reports/topglobal-brands/2015/methodology
Kapferer, J. N., & Thoenig, J. C. (1991). The Brand: Engine of competitiveness of the companies and growth of the economies. McGraw-Hill Editions.
Keller, K. L. (1993). Conceptualizing, measuring and managing customer-based brand equity. Journal of Marketing, 57(1), 1–22. https://doi.org/10.1177/002224299305700101
Keller, K. L., & Lehmann, D. R. (2006). Brands and branding: Research findings and future priorities. Marketing Science, 25(6), 740–759. https://doi.org/10.1287/mksc.1050.0153
Kim, E. (2019). A study on the Chinese translation methods of multinational brand name. The Journal of Humanities and Social Science, 10(2), 129–140. https://doi.org/10.22143/HSS21.10.2.10
Kotler, P., & Keller, K. L. (2006). Marketing management. Prentice-Hall International Edition.
Kucharska, W., Flisikowski, K., & Confente, I. (2018). Do global brands contribute to the economy of their country of origin? A dynamic spatial approach. Journal of Product & Brand Management, 27(7), 768–780. https://doi.org/10.1108/JPBM-10-2017-1641
Lambin, J. (1995). Strategic marketing. McGraw-Hill Editions.
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