The Influence Of Corporate Reputation For The Enterprise Financing Ability To Study

In early2004, Chinese stock market crashed since calderon stock, many enterprises reputation in recent years have suffered a severe challenges, such as "Shuozhou false wine","Chongqing bridge collapse events","Sanlu milk powder events" and SK-Ⅱ sued containing harmful ingredients, all of these made the enterprise reputation suffering huge losses. Especially Sanlu milk powder "melamine" exposure, causing Sanlu company went bankrupt, Mengniu milk group was affected. Since poison milk exposure on the month, Mengniu in Hong Kong stock crazied shrunk. So enterprise reputation crisis caused by the collapse of the capital market financing ability, almost made enterprise suffocation degree, negative reputation on enterprises’financing efficiency is affected. This paper was based on this background, research enterprise reputation on enterprises’influence of financing ability.This paper mainly adopts theory analysis, game analysis and empirical analysis, mainly innovation lies in the most respected enterprise in China published by the listed company as sample, a panel data model to analyze the research of enterprise financing ability company reputation of influence. The research contents mainly five parts. The first chapter presents the background and significance, research purposes and methods; the second chapter related literature review of a company’s reputation, and from the angle of enterprises’financing defined reputation; the third chapter analyzes the formation process of financing enterprise reputation, and through simple game model to analyze the enterprise in the reputation of financing process of action mechanism; the fourth chapter through empirical analysis to study the enterprise reputation on enterprises’financing ability, and the influence of conclusion; the fifth chapter suggests on how to cultivate and management enterprise reputation.This paper summarizes influence enterprise financing capability of reputation structure, including the scale strength, growth characteristics, the core competitiveness, argues relations, financial performance in the five indicators. Selecting2001-2009voted "China’s most respected enterprise" of the listed companies. Through the regression analysis of panel data can reach the following conclusion:the reputation of the enterprise to have good passed positive signal investors, enterprise scale is bigger, can diversify business, resisting the ability of the risk is stronger, easier to get investors trust, and to promote the enterprise financing ability; investors will also consider enterprise’s growth, because higher growth will bring higher investment income, and easily get external credit funds support; in effect, the reputation of the factors of enterprise core competitiveness of enterprises is an important factor, the enterprise has a strong competition ability, increasing investor confidence and improving the enterprise financing ability; moreover, good argues for enterprises to obtain bank relationship of trust, easier to obtain credit funds support; enterprise’s profit ability, good reputation, to outside investors to convey a positive signal, they are more willing to invest in these enterprises, and thus enhancing the enterprise financing ability.