Only Famous if People Know you?re Name: External Audiences, Transference, and Firm Performance of Celebrity Firms and CEO?s

Abstract

In recent years the concept of celebrity has shifted from a purely entertainment-based focus into the business realm. Initial work examined celebrity CEOs and celebrity firms separately. This study examines both forms of celebrity with a preliminary measure that has two components: one that taps into the media, the other an external audience. The findings show evidence of initial, direct linkages with accounting firm performance. One measure of firm celebrity also partially mediated the relationship between CEO celebrity and firm performance.