Corporate reputation as social capital, strategic resource, and legitimacy mechanism: a literature review

Corporate Reputation (CR) has long been studied in psychology, sociology, economics, politics, marketing, and management. Although much has been written on the topic, research on reputation remains fragmented. Thus, the literature frequently treats reputation as a social judgment, social capital, a strategic resource, a signaling device, and a source of legitimacy. This article provides a comprehensive literature review. In addition to tracing the development of the concept of reputation, the review examines its multidimensionality and its manifestation at the individual, organizational, and institutional levels. The review explores the relationships between corporate reputation, image, and branding in greater detail. Beyond reducing uncertainty for stakeholders, it also facilitates cooperation among them and serves as a strategic resource that can generate competitive advantage. In addition, it provides legitimacy for organizations, practices, and institutions. Finally, the review offers practical recommendations for reputation management and identifies five key lessons regarding the distinctions, strategic value, development, and contemporary relevance of Corporate Reputation.