In the classic passage, Philippians 2:9-11 Paul says, "Wherefore God also hath highly exalted Him, and given Him a name which is above every name - that every tongue should confess that Jesus Christ is Lord, to the glory of God the Father."
The word “hupsoo”, which is translated 'exalted' is never used of the Resurrection. It is the word for, ‘ascension' or 'exaltation’. Thus it was by His ascension that Jesus was marked out to be Lord, as by His resurrection He was marked out to be the Son of God in power (Rom. 1:4).
By the resurrection Jesus Christ is seen to be Victor over death and corruption.
By the ascension He is seen to be Lord, with all power in heaven and earth (Matthew 28:18).
As sin was shown to be subject to Him by His sinless life, as death was shown to be subject to Him by His resurrection, so all things in heaven and earth are shown to be subject to Him by His ascension.
It was not that the ascension effects His lordship any more than the resurrection effects His victory over death.
Rather, the ascension is the designation and the demonstration of His Lordship.
It is the designation in that it is the reward of the Father for His perfect obedience. In His humanity He was subject to His Father.
It is demonstration since He ascended of His own will, His own power and in His own right. It is true to say that God raised Him and that He raised Himself. God took Him up and He ascended of His own power.
This excerpt is from a Rolfe Barnard sermon entitled, "The Ascended Lord". Edited by Eulala J. Bullock. Free PDF edition by Grace-eBooks.com.