Journal article
Customer Satisfaction, Cash Flow, and Shareholder Value
Journal of marketing, Vol.69(3), pp.115-130
07/2005
DOI: 10.1509/jmkg.69.3.115.66364
Abstract
In this article, the authors strengthen the chain of effects that link customer satisfaction to shareholder value by establishing the link between satisfaction and two characteristics of future cash flows that determine the value of the firm to shareholders: growth and stability. Using longitudinal American Customer Satisfaction Index and COMPUSTAT data and hierarchical Bayesian estimation, the authors find that satisfaction creates shareholder value by increasing future cash flow growth and reducing its variability. They test the stability of findings across several firm and industry characteristics, and they assess the robustness of the results using multimeasure and multimethod estimation.
Details
- Title: Subtitle
- Customer Satisfaction, Cash Flow, and Shareholder Value
- Creators
- Thomas S. Gruca - University of IowaLopo L. Rego - University of Iowa
- Resource Type
- Journal article
- Publication Details
- Journal of marketing, Vol.69(3), pp.115-130
- DOI
- 10.1509/jmkg.69.3.115.66364
- ISSN
- 0022-2429
- eISSN
- 1547-7185
- Language
- English
- Date published
- 07/2005
- Academic Unit
- Marketing
- Record Identifier
- 9984380538502771
Metrics
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