Article2014

Talented people and strong brands: The contribution of human capital and brand equity to firm value

Arnd Vomberg · Christian Homburg · Torsten Bornemann

232 citations0/0 files storedStrategic Management Journal

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Intellectual Capital and Performance Analysis Financial Reporting and Valuation Research Corporate Identity and Reputation

Abstract

Research and managerial practice generally contend that human capital and brand equity constitute a company's most valuable resources. Relying on similar underlying theoretical rationales, research on the value relevance of these two resources has developed in different disciplines. Combining diverse data sources, the authors examine the simultaneous effects of brand equity and human capital on firm value. In addition, they consider how much the effects of these two resources differ between services and manufacturing. Results provide evidence for a complementary relationship between human capital and brand equity and show that both resources create relatively more value in a service setting . Copyright © 2014 John Wiley & Sons, Ltd.

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References

1991Firm Resources and Sustained Competitive Advantage 2004Firm resources and sustained competitive advantage 1993Conceptualizing, Measuring, and Managing Customer-Based Brand Equity 1995THE IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON TURNOVER, PRODUCTIVITY, AND CORPORATE FINANCIAL PERFORMANCE.1989Asset Stock Accumulation and Sustainability of Competitive Advantage 1989Social Identity Theory and the Organization 1991Towards a dynamic theory of strategy 2000Strategic Brand Management: Building, Measuring, and Managing Brand Equity.

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