The financial markets and customer satisfaction: Reexamining possible financial market mispricing of customer satisfaction

Marketing Science

Volumn 28, Issue 5, 2009, Pages 810-819

  Jacobson, Robert ^a   Mizik, Natalie ^b  

^a Diogenes Consulting   (United States)

^b Columbia University ^*  (United States)

Author keywords

Customer satisfaction; Efficient markets; Financial performance; Marketing metrics; Mispricing; Valuation

Indexed keywords

EID: 70349945936     PISSN: 07322399     EISSN: 1526548X     Source Type: Journal    
DOI: 10.1287/mksc.1090.0495     Document Type: Article

References (18)

1. Aksoy, L., B. Cooil, C. Groening, T. L. Keiningham, A. Yalçin. 2008. The long-term stock market valuation of customer satisfaction. J. Marketing 72(4) 105-122.
2. Barber, B. M., J. D. Lyon. 1997. Detecting long-run abnormal stock returns: The empirical power and specification of test statistics. J. Financial Econom. 43(3) 341-372.
3. Carhart, M. 1997. On persistence in mutual fund performance. J. Finance 52(1) 57-82.
4. Chambers, D. J., R. Jennings, R. B. Thompson. 2002. Excess returns to R&D-intensive firms. Rev. Accounting Stud. 7(2-3) 133-158.
5. Chan, L. K. C., J. Lakonishok, T. Sougiannis. 2001. The stock, market valuation of research and development expenditures. J. Finance 56(6) 2431-2456. (Pubitemid 33585028)
6. Chow, G. C. 1960. Tests of equality between sets of coefficients in two linear regressions. Econometrica 28(3) 591-605.
7. Daniel, K., S. Titman. 2003. Market reactions to tangible and intangible information. NBER Working Paper 9743. http://www. nber.org/papers/w9743.pdf.
8. Daniel, K., D. Hirshleifer, A. Subrahmanyam. 1998. Investor psychology and security market under- and overreactions. J. Finance 53(6) 1839-1885. (Pubitemid 128639703)
9. Dewald, W. G., J. G. Thursby, R. G. Anderson. 1986. Replication in empirical economics: The journal of money, credit and banking project. Amer. Econom. Rev. 76(4) 587-603.
10. Eberhart, A. C., W F. Maxwell, A. R. Siddique. 2004. An examination of long-term abnormal stock returns and operating performance following R&D increases. J. Finance 59(2) 623-650.
11. Fama, E. F. 1998. Market efficiency, long-term returns, and behavioral finance. J. Financial Econom. 49(3) 283-306. (Pubitemid 128440541)
12. Fornell, C., S. Mithas, F. V. Morgeson III, M. S. Krishnan. 2006. Customer satisfaction and stock, prices: High returns, low risk. J. Marketing 70(1) 3-14. (Pubitemid 43202415)
13. Hauser, J. R., D. I. Simester, B. Wernerfeit. 1994. Customer satisfaction incentives. Markding Sci. 13(4) 327-350.
14. Lewellen, J., S. Nagel. 2006. The conditional CAPM does not explain asset-pricing anomalies. J. Financial Econom. 82(2) 289-314. (Pubitemid 44469271)
15. McAlister, L., R. Srinivasan, M. Kim. 2007. Advertising, research and development, and systematic risk of the firm. J. Marketing 71(1) 35-48.
16. Mizik, N., R. Jacobson. 2007. Myopic marketing management: Evidence of the phenomenon and its long-term performance consequences in the SEO context. Marketing Sci. 26(3) 361-379.
17. O'Sullivan, D., M. C. Hutchinson, V. O'Connell. 2009. Empirical evidence of the stock market's (mis)pricing of customer satisfaction. Internat. J. Res. Marketing 26(2) 154-161.
18. Pastor, L., P. Veronesi. 2007. Technological revolutions and stock prices. Working paper, Graduate School of Business, University of Chicago, Chicago.