Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective
This paper extends the growing research on the dark side of B2B relationships by exploring the differences in third-party certification effects based on social capital with professional financial services firms, using a proprietary dataset with confidential voting records of the nominations for I...
| Main Authors: | , , , |
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| Format: | Journal Article |
| Published: |
Elsevier
2021
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| Online Access: | http://hdl.handle.net/20.500.11937/82261 |
| _version_ | 1848764488554119168 |
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| author | Cheng, Louis TW Sharma, Piyush Shen, Jianfu Ng, Allen CC |
| author_facet | Cheng, Louis TW Sharma, Piyush Shen, Jianfu Ng, Allen CC |
| author_sort | Cheng, Louis TW |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper extends the growing research on the dark side of B2B relationships by exploring
the differences in third-party certification effects based on social capital with professional
financial services firms, using a proprietary dataset with confidential voting records of the
nominations for Investor Relation Awards in Hong Kong. Results confirm the dark side of
these relationships by showing that the nominated firms with more favorable voting from
international (vs. local) analysts experience stronger certification effect with higher
valuations upon announcement. Moreover, nominated (but not awarded) firms with lower
levels of information transparency demonstrate a larger certification effect but they also show
significant improvement in their information transparency after the event, which represents
an unexpected bright outcome from this dark side of B2B relationships. Overall, these
findings extend the social capital argument that international financial services firms bring
higher positive return through the support of their own professional and social network. |
| first_indexed | 2025-11-14T11:20:09Z |
| format | Journal Article |
| id | curtin-20.500.11937-82261 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:20:09Z |
| publishDate | 2021 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-822612024-04-22T00:49:04Z Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective Cheng, Louis TW Sharma, Piyush Shen, Jianfu Ng, Allen CC This paper extends the growing research on the dark side of B2B relationships by exploring the differences in third-party certification effects based on social capital with professional financial services firms, using a proprietary dataset with confidential voting records of the nominations for Investor Relation Awards in Hong Kong. Results confirm the dark side of these relationships by showing that the nominated firms with more favorable voting from international (vs. local) analysts experience stronger certification effect with higher valuations upon announcement. Moreover, nominated (but not awarded) firms with lower levels of information transparency demonstrate a larger certification effect but they also show significant improvement in their information transparency after the event, which represents an unexpected bright outcome from this dark side of B2B relationships. Overall, these findings extend the social capital argument that international financial services firms bring higher positive return through the support of their own professional and social network. 2021 Journal Article http://hdl.handle.net/20.500.11937/82261 10.1016/j.jbusres.2021.01.031 http://creativecommons.org/licenses/by-nc-nd/4.0/ Elsevier fulltext |
| spellingShingle | Cheng, Louis TW Sharma, Piyush Shen, Jianfu Ng, Allen CC Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title | Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title_full | Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title_fullStr | Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title_full_unstemmed | Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title_short | Exploring the dark side of third-party certification effect in B2B relationships: A professional financial services perspective |
| title_sort | exploring the dark side of third-party certification effect in b2b relationships: a professional financial services perspective |
| url | http://hdl.handle.net/20.500.11937/82261 |