Does company reputation have wealth effect—Empirical evidence from the Chinese security market

The effect of company reputation on its market value is an important issue of foreign reputation research. Based on the characteristic of Chinese capital market, this paper use the method of event studies, examined whether Chinese listed companies´ reputation has wealth effect. And the conclusion is none. One of the main causes is the low efficiency of our capital market, and the other cause is the low effectiveness of reputation punishment and the weakness of the investor protection.