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Firm Celebrity

Celebrity firms are organizations that attract high levels of public attention and generate positive emotional responses from stakeholder audiences. Firm celebrity is socially constructed by the media and is viewed as a strategic resource with the potential for economic value. Firm celebrity does not guarantee long-term effectiveness or success, but it does alter the economic opportunities available to firms that attain this status. Thus, celebrity is viewed as an intangible asset for a firm. Firm celebrity differs from CEO celebrity in that the focus of the social actor in question and the benefits of the status are both at the firm level. In turn, firm celebrity differs from firm reputation based on the emotional resonance associated with the increased media attention. This entry examines the ...

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