The Effect of Incongruence Between CEO and Corporate Brand Personality on Financial Analysts’ Attitudes and Assessment of a Company’s Performance

Abstract

This research assesses the role of two types of nonfinancial information in investor relations: The personality of the Chief Executive Officer (CEO) and the personality of the corporate brand. As both personalities determine the identity of a company and the relationship with its stakeholders, we investigate their relevance and the effect of incongruence between these two personalities on financial analysts. Eleven semistructured interviews were conducted to answer the theoretically derived research questions. Empirical findings show that both personalities are relevant to analysts and that perceived incongruence between these personalities can cause adverse effects. Company size, stage of company development and strength of the corporate brand emerge as influencing factors. The findings point to the importance of integrated communication concerning a company’s relevant personalities when relating to stakeholders.