Pengaruh Brand Equity pada Shareholder Values

Aliffianto, Achmad Yanu ORCID: https://orcid.org/0000-0003-3186-0831 (2012) Pengaruh Brand Equity pada Shareholder Values. In: Seminar Nasional Sistem & Teknologi Informasi (SNASTI) 2012, 04 Oktober 2012, Surabaya.

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Abstract

Study in this paper are used to assess which brand asset metrics provide additional information content to accounting performance measures in explaining stock returns. Emphasis on the analysis of the five "pillars" (ie, central brand attributes) that forms the basis for the Brand Asset Valuation Model updated by Young & Rubicam (2000) which consists of: differentiation, relevance, esteem, knowledge, and energy. The analysis shows that brands that have relevance and energy to provide additional information for accounting measurement in explaining stock returns. However, esteem and knowledge are not, that is, their effects are reflected in current accounting-measurement items included in the brand relevance and energy. Financial markets do not look brand differentiation as a provider of incremental information, should have contributed to the brand differentiation. Changes in differentiation are indicative of future performance of accounting, which in turn affects stock returns. Conclusions This study, invariant to the use of alternative accounting performance measures, risk adjustment, and the inclusion of additional brand attributes into the analysis.

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