The aim of this paper is to determine the relationship among two intangible assets. Specifically, we studied the relationship between organizational learning and corporate reputation because both have similar properties which suggest the existence of a strong positive association. Organizational learning is a critical infrastructure that supports the strategy formulation and implementation systems of a company where corporate reputation is a key element, relying on the perceptions of stakeholders about the behaviour of the company. Consequently, organizational learning has a positive effect on corporate reputation. An empirical study was done for the Spanish accounting audit firm in 2010, because professional service firms seem to be more sensitive to organizational learning and corporate reputation, and to the attitude of employees (mainly managers). Auditing is a labour-intensive service, where the managers and employees are important actors in the interaction with customers and, therefore, in the development of organizational learning and the configuration of the firm's corporate reputation. This paper also analyzes the influence of organizational learning and corporate reputation on financial performance, because both are intangible assets through which firms can achieve competitive advantage. Subsequently, a regression analysis confirms that organizational learning activities have a positive and significant effect on some dimensions of corporate reputation, differentiating its major influence on internal and/or external dimensions. As well as this, the direct and indirect effects among organizational learning, corporate reputation and financial performance of the firm are tested through a structural equations model. The results exhibit the positive and direct influence of corporate reputation on financial performance and the positive and indirect effect (through corporate reputation) of organizational learning on that firm's results. Therefore, this study serves as an important contribution to the literature by examining and identifying the positive relation between organizational learning activities and corporate reputation, testing their direct and indirect effect on business results, in particular on financial performance.
