Names and Reputations: An Empirical Analysis
检验了企业声誉理论的几个预测，发现业绩差的企业更可能改名：投诉记录高于均值一个标准差的管道公司改名概率增加133.2%。此外，经营历史长的企业更少改名或退出，而广告投入多的企业更倾向于改名而非退出，小市场企业更重视声誉。
This paper tests several predictions from the literature on firm reputation, and confirms a main result: poor performance leads a firm to conceal its reputation. A residential plumbing firm with a record of complaints one standard deviation above the mean is 133.2 percent more likely to change its name. In addition, firms with longer track records are less likely to change their names or exit, while firms with more firm-specific investments, such as advertising, are more likely to change their names than exit. In addition, firms in small markets value their reputations comparatively more than firms in large markets.