Skip to main content
SpringerLink
Log in

Thinking Outside of the Firm: Self-Transcendence Values’ Effects on Corporate Reputation

  • Original Article
  • Published:
Corporate Reputation Review Aims and scope Submit manuscript

Abstract

While organizational values’ implications for firm effectiveness and employee outcomes have been studied extensively in management literature, the question of how organizational values influence marketing outcomes remains under-researched. Our research applies stakeholder theory to propose that an expanded organizational values framework is needed to account for marketing-relevant stakeholders (e.g., customers and the general public) and not solely those “inside” the firm (e.g., employees and shareholders). Using Schwartz’s human values model, the Stakeholder-organizational values framework is conceptualized and empirically explored. We use a corpus of CEO letters to examine the differential effects of firms’ emphases on Self-enhancement (e.g., corporate profitability) values versus Self-transcendence (e.g., societal benefits) values on customer satisfaction and corporate reputation. The study finds a significant relationship between firm Self-transcendence values orientation and corporate character reputation. Ultimately, the framework and original dictionary of terms provide an innovative method for assessing firms’ organizational values from a multi-stakeholder perspective.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2
Fig. 3

Similar content being viewed by others

References

  • Adams, Renée B., Amir N. Licht, and Lilach Sagiv. 2011. Shareholders and stakeholders: How do directors decide? Strategic Management Journal 32 (12): 1331–1355.

    Article  Google Scholar 

  • Anderson, R.E., and S. Swaminathan. 2011. Customer satisfaction and loyalty in e-markets: A PLS path modeling approach. Journal of Marketing Theory and Practice 19 (2): 221–234.

    Article  Google Scholar 

  • Angelovska, A. 2019. Why reputation leaders should be focused on higher purpose this year. Reputation Institute. https://insights.reputationinstitute.com/homepage/higher-purpose-global-trends. Accessed 20 Jan 2020.

  • Bansal, P. 2003. From issues to actions: The importance of individual concerns and organizational values in responding to natural environmental issues. Organization Science 14 (5): 510–527.

    Article  Google Scholar 

  • Barnett, M. 2011. PepsiCo's Indra Nooyi: Capitalism with a purpose. Fortune (October 5), https://fortune.com/2011/10/05/pepsicos-indra-nooyi-capitalism-with-a-purpose/. Accessed 24 Jan 2020.

  • Bhattacharya, C.B., and S. Sen. 2003. Consumer–company identification: A framework for understanding consumers’ relationships with companies. Journal of Marketing 67 (2): 76–88.

    Article  Google Scholar 

  • Borg, Ingwer, Patrick J. F. Groenen, Karen A. Jehn, Wolfgang Bilsky, and Shalom H. Schwartz. 2011. Embedding the organizational culture profile into Schwartz’s theory of universals in values. Journal of Personnel Psychology 10 (1): 1–12.

  • Bourne, Humphrey, Mark Jenkins, and Emma Parry. 2019. Mapping espoused organizational values. Journal of Business Ethics 159 (1): 133–148.

    Article  Google Scholar 

  • Brown, T., and P. Dacin. 1997. The company and the product: Corporate associations and consumer product responses. Journal of Marketing 61 (1): 68–84.

    Article  Google Scholar 

  • Chong, M. 2007. The role of internal communication and training in infusing corporate values and delivering brand promise: Singapore Airlines’ experience. Corporate Reputation Review 10: 201–212.

    Article  Google Scholar 

  • Conaway, R.N., and W.J. Wardroope. 2010. Do their words really matter? Thematic analysis of U.S. and Latin American CEO letters. Journal of Business Communication 47: 141–168.

    Article  Google Scholar 

  • Chun, R., and G. Davies. 2006. The influence of corporate character on customers and employees: Exploring similarities and differences. Journal of the Academy of Marketing Science 34 (2): 138–146.

    Article  Google Scholar 

  • De Clercq, S., J. Fontaine, and F. Anseel. 2008. In search of a comprehensive value model for assessing supplementary person—organization fit. The Journal of Psychology 142 (3): 277–302.

    Article  Google Scholar 

  • Deal, T., and A. Kennedy. 1982. Corporate cultures: The rites and rituals. New York: Perseus Books Publishing.

    Google Scholar 

  • Deephouse, D.L. 2000. Media reputation as a strategic resource: An integration of mass communication and resource-based theories. Journal of Management 26 (6): 1091.

    Article  Google Scholar 

  • Deshpandé, R., and J.U. Farley. 1999. Executive insights: Corporate culture and market orientation: Comparing Indian and Japanese firms. Journal of International Marketing 7 (4): 111–127.

    Article  Google Scholar 

  • Deshpandé, R., and J.U. Farley. 2004. Organizational culture, market orientation, innovativeness, and firm performance: An international research odyssey. International Journal of Research in Marketing 21 (1): 3–22.

    Article  Google Scholar 

  • Donaldson, T., and L.E. Preston. 1995. The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review 20 (1): 65–91.

    Article  Google Scholar 

  • Donker, H., D. Poff, et al. 2008. Corporate values, codes of ethics, and firm performance: A look at the Canadian context. Journal of Business Ethics 82 (3): 527–537.

    Article  Google Scholar 

  • Dougherty, D. 1992. Interpretive barriers to successful product innovation in large firms. Organization Science 3 (2): 179–202.

    Article  Google Scholar 

  • Dowling, G., and P. Moran. 2012. Corporate reputations: Built in or bolted on? California Management Review 54 (2): 25–42.

    Article  Google Scholar 

  • Enz, C.A. 1988. The role of value congruity in intraorganizational power. Administrative Science Quarterly 33 (2): 284–304.

    Article  Google Scholar 

  • Fombrun, C., and M. Shanley. 1990. What’s in a name? Reputation building and corporate strategy. Academy of Management Journal 33 (2): 233–258.

    Article  Google Scholar 

  • Fornell, C., M.D. Johnson, E. Anderson, J. Cha, and B.E. Bryant. 1996. The American customer satisfaction index: Nature, purpose, and findings. Journal of Marketing 60 (4): 7–18.

    Article  Google Scholar 

  • Fraj, E., E. Martínez, and J. Matute. 2011. Green marketing strategy and the firm’s performance: The moderating role of environmental culture. Journal of Strategic Marketing 19 (4): 339–355.

    Article  Google Scholar 

  • Freeman, R.E. 1984. Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.

    Google Scholar 

  • Gartenberg, C., A. Prat, and G. Serafeim. 2019. Corporate purpose and financial performance. Organization Science 30 (1): 1–18.

    Article  Google Scholar 

  • Geppert, J., and J.E. Lawrence. 2008. Predicting firm reputation through content analysis of shareholders’ letter. Corporate Reputation Review 11 (4): 285–307.

    Article  Google Scholar 

  • Hartnell, C.A., A.Y. Ou, and A. Kinicki. 2011. Organizational culture and organizational effectiveness: A meta-analytic investigation of the competing values framework’s theoretical suppositions. Journal of Applied Psychology 96 (4): 677.

    Article  Google Scholar 

  • Harvey, W.S., S. Osman, and M. Tourky. 2021. Building internal reputation from organisational values. Corporate Reputation Review. https://doi.org/10.1057/s41299-020-00109-x.

    Article  Google Scholar 

  • Helm, S. 2007. The role of corporate reputation in determining investor satisfaction and loyalty. Corporate Reputation Review 10 (1): 22–37.

    Article  Google Scholar 

  • Homburg, C., N. Koschate, and W.D. Hoyer. 2005. Do satisfied customers really pay more? A study of the relationship between customer satisfaction and willingness to pay. Journal of Marketing 69 (2): 84–96.

    Article  Google Scholar 

  • Janis, I.L., and R.H. Fadner. 1943. A coefficient of imbalance for content analysis. Psychometrika 8: 105–119.

    Article  Google Scholar 

  • Kabanoff, B., and J. Daly. 2002. Espoused values of organisations. Australian Journal of Management. 27: 89.

    Article  Google Scholar 

  • Kashmiri, Saim, and Vijay Mahajan. 2017. Values that shape marketing decisions: Influence of chief executive officers’ political ideologies on innovation propensity, shareholder value, and risk. Journal of Marketing Research 54 (2): 260–278.

    Article  Google Scholar 

  • Kohut, G.F., and A.H. Segars. 1992. The president’s letter to stockholders: An examination of corporate communication strategy. The Journal of Business Communication 29: 7–21.

    Article  Google Scholar 

  • Kotler, P., H. Kartajaya, and I. Setiawan. 2010. Marketing 3.0: From products to customers to the human spirit. New York: Wiley.

    Book  Google Scholar 

  • Lamin, A., and S. Zaheer. 2012. Wall street vs. main street: Firm strategies for defending legitimacy and their impact on different stakeholders. Organization Science 23 (1): 47–66.

    Article  Google Scholar 

  • Luo, X., and C.B. Bhattacharya. 2006. Corporate social responsibility, customer satisfaction, and market value. Journal of Marketing 70 (4): 1–18.

    Article  Google Scholar 

  • Luo, X., and C.B. Bhattacharya. 2009. The debate over doing good: Corporate social performance, strategic marketing levers, and firm-idiosyncratic risk. Journal of Marketing 73 (6): 198–213.

    Article  Google Scholar 

  • Luo, X., and S. Du. 2012. Good companies launch more new products. Harvard Business Review 90 (4): 28.

    Google Scholar 

  • Malbašić, I., C. Rey, and V. Potočan. 2015. Balanced organizational values: From theory to practice. Journal of Business Ethics 130 (2): 437–446.

    Article  Google Scholar 

  • Marinova, D., J. Ye, and J. Singh. 2008. Do frontline mechanisms matter? Impact of quality and productivity orientations on unit revenue, efficiency, and customer satisfaction. Journal of Marketing 72 (2): 28–45.

    Article  Google Scholar 

  • Maxham, J.G., III., and R.G. Netemeyer. 2003. Firms reap what they sow: The effects of shared values and perceived organizational justice on customers’ evaluations of complaint handling. Journal of Marketing 67 (1): 46–62.

    Article  Google Scholar 

  • Mishina, Y., E.S. Block, and M.J. Mannor. 2012. The path dependence of organizational reputation: How social judgment influences assessments of capability and character. Strategic Management Journal 33 (5): 459–477.

    Article  Google Scholar 

  • Morgan, R.M., and S.D. Hunt. 1994. The commitment-trust theory of relationship marketing. Journal of Marketing 58 (3): 20–38.

    Article  Google Scholar 

  • O’Reilly, C.A., III., J. Chatman, and D.F. Caldwell. 1991. People and organizational culture: A profile comparison approach to assessing person-organization fit. Academy of Management Journal 34 (3): 487–516.

    Article  Google Scholar 

  • Pennebaker, J. W., R. J. Booth, and M. E. Francis. 2007. Operator’s manual: Linguistic inquiry and word count: LIWC2007. Austin, Texas: LIWC. http://homepage.psy.utexas.edu/HomePage/Faculty/Pennebaker/Reprints/LIWC2007_OperatorManual.pdf. Accessed 1 Oct 2019.

  • Peters, T.J., and R.H. Waterman. 1982. In search of excellence: Lessons from America’s best-run companies. New York: Harper & Row Publishers.

    Google Scholar 

  • Pettigrew, A.M. 1979. On studying organizational cultures. Administrative Science Quarterly 24 (4): 570–581.

    Article  Google Scholar 

  • Porto, Juliana B., and Maria Cristina Ferreira. 2017. A scale of organizational values framed on Schwartz’s theory of cultural values. Psicologia: Teoria e Pesquisa 32: 1–10.

    Google Scholar 

  • Pirson, M., and D. Malhotra. 2011. Foundations of organizational trust: What matters to different stakeholders? Organization Science 22 (4): 1087–1104.

    Article  Google Scholar 

  • Quinn, R.E., and J. Rohrbaugh. 1983. A spatial model of effectiveness criteria: Towards a competing values approach to organizational analysis. Management Science 29 (3): 363–377.

    Article  Google Scholar 

  • Rokeach, M. 1973. The nature of human values. New York: NY, Free Press.

    Google Scholar 

  • Schaefer, A., S. Williams, and R. Blundel. 2020. Individual values and SME environmental engagement. Business & Society 59 (4): 642–675.

    Article  Google Scholar 

  • Schein, E. 1985. Organizational culture and leadership: A dynamic view. San Francisco, CA: Jossey-Bass.

    Google Scholar 

  • Schnietz, K.E., and M.J. Epstein. 2005. Exploring the financial value of a reputation for corporate social responsibility during a crisis. Corporate Reputation Review 7 (4): 327–345.

    Article  Google Scholar 

  • Schwartz, S.H. 1992. Universals in the content and structure of values. Advances in Experimental Social Psychology 25: 1–65.

    Article  Google Scholar 

  • Schwartz, S.H., and K. Boehnke. 2004. Evaluating the structure of human values with confirmatory factor analysis. Journal of Research in Personality 38 (3): 230–255.

    Article  Google Scholar 

  • Sheth, J.N., N.K. Sethia, and S. Srinivas. 2011. Mindful consumption: A customer-centric approach to sustainability. Journal of the Academy of Marketing Science 39 (1): 21–39.

    Article  Google Scholar 

  • Susanti, V., and A. Samudro. 2021. Assessing the role of corporate reputation on brand satisfaction: A study of chemical industry. Corporate Reputation Review. https://doi.org/10.1057/s41299-021-00118-4.

    Article  Google Scholar 

  • Taylor, C.R. 2019. What the business roundtable’s statement on the purpose of a corporation means for the study of corporate social responsibility in advertising. International Journal of Advertising 38 (8): 1067–1069.

    Article  Google Scholar 

  • Torelli, C.J., A. Özsomer, S.W. Carvalho, H.T. Keh, and N. Maehle. 2012. Brand concepts as representations of human values: Do cultural congruity and compatibility between values matter? Journal of Marketing 76 (4): 92–108.

    Article  Google Scholar 

  • Tuli, K.R., and S.G. Bharadwaj. 2009. Customer satisfaction and stock returns risk. Journal of Marketing 73 (6): 184–197.

    Article  Google Scholar 

  • Wagstaff, M.F., G.L. Flores, A. Cannella, S. Sarkar, and C. Choirat. 2021. Construct validity of unobtrusive measures of organizational ethical climates. Corporate Reputation Review 24: 158–177.

    Article  Google Scholar 

  • Wetzelhütter, Daniela, Chigozie Nnebedum, Jacques De Wet, and Johann Bacher. 2020. Testing a modified version of Schwartz’s portrait values questionnaire to measure organizational values in a university context. Journal of Human Values 26 (3): 209–227.

    Article  Google Scholar 

  • White, J.C., P.R. Varadarajan, and P.A. Dacin. 2003. Market situation interpretation and response: The role of cognitive style, organizational culture, and information use. Journal of Marketing 67 (3): 63–79.

    Article  Google Scholar 

  • Yarbrough, L., N. Morgan, and D.W. Vorhies. 2011. The impact of product market strategy-organizational culture fit on business performance. Journal of the Academy of Marketing Science 39 (4): 555–573.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Marketing and Logistics, Craig School of Business, California State University, Fresno, 5245 N. Backer Avenue M/S, PB07, Fresno, CA, 93740, USA

    Monique L. Bell

Authors
  1. Monique L. Bell
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Monique L. Bell.

Ethics declarations

Conflict of interest

On behalf of all authors, the corresponding author states that there is no conflict of interest.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Bell, M.L. Thinking Outside of the Firm: Self-Transcendence Values’ Effects on Corporate Reputation. Corp Reputation Rev 26, 150–165 (2023). https://doi.org/10.1057/s41299-022-00143-x

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1057/s41299-022-00143-x

Keywords

Search

Navigation