Communication about rebranding: the case of Polish listed companies

RESEARCH OBJECTIVE: Rebranding is a crucial driver of modern marketing strategies that can only be successful if appropriately communicated to society. This research aims to explain which rebranding-related information companies disclose in their communication on this process using various information dissemination channels. THE RESEARCH PROBLEM AND METHODS: To examine the content of 200 disclosures about rebranding, we used topic modelling, which identifies latent patterns of word co-occurrence using computer algorithms and the distribution of words in the analyzed corpus (set of documents). We applied an unsupervised Bayesian machine-learning approach for topic modelling called latent Dirichlet allocation (LDA), a cutting-edge method that is still not widely used by scholars. THE PROCESS OF ARGUMENTATION: Rebranding pays out over the lifetime of a company, but society has to be appropriately informed of this decision. The information should be comprehensive, disclosed through multiple channels, and addressed to all stakeholders. However, the question is whether this theoretical knowledge finds its application in companies’ practice. We researched each rebranding case of all Polish companies listed on the WSE since 1991 and analyzed how they communicated their rebranding through diverse types information disclosure. RESEARCH RESULTS: Polish companies are very selective, both in the content of information disclosed and the communication channels they use. They tend to avoid explaining the reasons for rebranding that are vital for society. Information is mainly disclosed through company websites or press releases and primarily has an informal character. They ignore official stock exchange communication channels, even though rebranding information could greatly influence financial performance and value creation. CONCLUSIONS, INNOVATIONS AND RECOMMENDATIONS: Our findings implicate a need to increase listed companies’ awareness concerning the importance of communicating marketing strategy and its potential benefits in the creation of investor relations.