메뉴 건너뛰기




Volumn 73, Issue 6, 2009, Pages 137-153

Valuing branded businesses

Author keywords

Brand; Conditional sales multiplier; Enterprise valuation; Relative valuation

Indexed keywords


EID: 70449378058     PISSN: 00222429     EISSN: None     Source Type: Journal    
DOI: 10.1509/jmkg.73.6.137     Document Type: Article
Times cited : (82)

References (54)
  • 2
    • 21344491635 scopus 로고
    • The Financial Information Content of Perceived Quality
    • 31 (May)
    • - and Robert Jacobson (1994), "The Financial Information Content of Perceived Quality," Journal of Marketing Research, 31 (May), 191-201.
    • (1994) Journal of Marketing Research , pp. 191-201
    • Jacobson, R.1
  • 3
    • 0035540609 scopus 로고    scopus 로고
    • The Value Relevance of Brand Attitude in High-Technology Markets
    • 38 (November)
    • - and -(2001), "The Value Relevance of Brand Attitude in High-Technology Markets," Journal of Marketing Research, 38 (November), 485-493
    • (2001) Journal of Marketing Research , pp. 485-493
  • 5
    • 0242361144 scopus 로고    scopus 로고
    • Revenue Premium as an Outcome Measure of Brand Equity
    • October
    • Ailawadi, Kusum L., Donald R. Lehmann, and Scott A. Neslin (2003), "Revenue Premium as an Outcome Measure of Brand Equity," Journal of Marketing, 67 (October), 1-17.
    • (2003) Journal of Marketing , vol.67 , pp. 1-17
    • Ailawadi Kusum, L.1    Donald, R.L.2    Neslin, S.A.3
  • 6
    • 0002132140 scopus 로고
    • The Effect of the Set of Comparable Firms on the Accuracy of the Price-Earnings Valuation Method
    • Alford, Andrew W. (1992), "The Effect of the Set of Comparable Firms on the Accuracy of the Price-Earnings Valuation Method," Journal of Accounting Research, 30 (1), 94-108.
    • (1992) Journal of Accounting Research , vol.30 , Issue.1 , pp. 94-108
    • Alford Andrew, W.1
  • 7
    • 84981567383 scopus 로고
    • Computing Robust Standard Errors for Within-Groups Estimators
    • Arellano, Manuel (1987), "Computing Robust Standard Errors for Within-Groups Estimators," Oxford Bulletin of Economics and Statistics, 49(4), 431-433
    • (1987) Oxford Bulletin of Economics and Statistics , vol.49 , Issue.4 , pp. 431-433
    • Arellano, M.1
  • 8
    • 70449418743 scopus 로고    scopus 로고
    • Mean Reversion in Earnings and the Use of E/P Multiples in Corporate Valuation
    • Bajaj, Mukesh, David J. Denis, and Atulya Sarin (2004), "Mean Reversion in Earnings and the Use of E/P Multiples in Corporate Valuation," Journal of Applied Finance, 14 (1), 4-10.
    • (2004) Journal of Applied Finance , vol.14 , Issue.1 , pp. 4-10
    • Bajaj, M.1    Denis, D.J.2    Sarin, A.3
  • 9
    • 0002437989 scopus 로고    scopus 로고
    • Relative Valuation Roles of Equity Book Value and Net Income as a Function of Financial Health
    • Barth, Mary E., William H. Beaver, and Wayne R. Landsman (1998), "Relative Valuation Roles of Equity Book Value and Net Income as a Function of Financial Health," Journal of Accounting and Economics, 25 (1), 1-33.
    • (1998) Journal of Accounting and Economics , vol.25 , Issue.1 , pp. 1-33
    • Barth Mary, E.1    Beaver, W.H.2    Landsman, W.R.3
  • 10
  • 11
    • 0033235090 scopus 로고    scopus 로고
    • Market Rewards Associated with Patterns of Increasing Earnings
    • John A. Elliott, and Mark W. Finn (1999), "Market Rewards Associated with Patterns of Increasing Earnings," Journal of Accounting Research, 37 (2), 387-413.
    • (1999) Journal of Accounting Research , vol.37 , Issue.2 , pp. 387-413
    • Elliott, J.A.1    Finn, M.W.2
  • 13
    • 0036591216 scopus 로고    scopus 로고
    • Who is my peer? A valuation-based approach to the selection of comparable firms
    • Bhojraj, Sanjeev and Charles M.C. Lee (2002), "Who Is My Peer? A Valuation-Based Approach to the Selection of Comparable Firms," Journal of Accounting Research, 40 (2), 407-439. (Pubitemid 36256446)
    • (2002) Journal of Accounting Research , vol.40 , Issue.2 , pp. 407-439
    • Bhojraj, S.1    Lee, C.M.C.2
  • 14
    • 0002864222 scopus 로고
    • Asset Valuation with Incomplete Markets
    • Boatsman, James R. and Elba F. Baskin (1981), "Asset Valuation with Incomplete Markets," Accounting Review, 56 (1), 38-53.
    • (1981) Accounting Review , vol.56 , Issue.1 , pp. 38-53
    • Boatsman James, R.1    Baskin, E.F.2
  • 15
    • 41849103324 scopus 로고    scopus 로고
    • Market Structure and the Geographic Distribution of Brand Shares in Consumer Packaged Goods Industries
    • University of Chicago.
    • Bronnenberg, Bart J., Sanjay K. Dhar, and Jean-Pierre Dube (2005), "Market Structure and the Geographic Distribution of Brand Shares in Consumer Packaged Goods Industries," working paper, Booth School of Business, University of Chicago.
    • (2005) Working Paper, Booth School of Business
    • Bronnenberg Bart, J.1    Dhar, S.K.2    Dube, J.-P.3
  • 16
    • 0038401009 scopus 로고    scopus 로고
    • Heterogeneous Investment Opportunities in Multiple-Segment Firms and the Incremental Value Relevance of Segment Accounting Data
    • Chen, Peter F. and Guochang Zhang (2003), "Heterogeneous Investment Opportunities in Multiple-Segment Firms and the Incremental Value Relevance of Segment Accounting Data," Accounting Review, 78 (2), 397-428.
    • (2003) Accounting Review , vol.78 , Issue.2 , pp. 397-428
    • Chen Peter, F.1    Zhang, G.2
  • 18
    • 0033236252 scopus 로고    scopus 로고
    • Sustained Spending and Persistent Response: A New Look at Long-Term Marketing Profitability
    • November
    • Dekimpe, Marnik G. and Dominique M. Hanssens (1999), "Sustained Spending and Persistent Response: A New Look at Long-Term Marketing Profitability," Journal of Marketing Research, 36 (November), 397-412.
    • (1999) Journal of Marketing Research , vol.36 , pp. 397-412
    • Dekimpe, M.G.1    Hanssens, D.M.2
  • 19
    • 70449340559 scopus 로고    scopus 로고
    • Valuing Brand Assets: A Cost-Effective and Easy-to-Implement Measurement Approach
    • Fischer, Marc (2007), "Valuing Brand Assets: A Cost-Effective and Easy-to-Implement Measurement Approach," MSI Working Paper Series, Report 07-107.
    • (2007) MSI Working Paper Series, Report , pp. 07-107
    • Marc, F.1
  • 21
    • 54149091435 scopus 로고    scopus 로고
    • Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research
    • Stanford University.
    • Gow, Ian D., Gaizka Ormazabal, and Daniel J. Taylor (2007), "Correcting for Cross-Sectional and Time-Series Dependence in Accounting Research," working paper, Graduate School of Business, Stanford University.
    • (2007) Working Paper, Graduate School of Business
    • Gow Ian, D.1    Ormazabal, G.2    Taylor, D.J.3
  • 22
    • 0034971485 scopus 로고    scopus 로고
    • Spurious Regressions with Stationary Series
    • Granger, Clive W.J., Namwon Hyung, and Yongil Jeon (2001), "Spurious Regressions with Stationary Series," Applied Economics, 33 (7), 899-904.
    • (2001) Applied Economics , vol.33 , Issue.7 , pp. 899-904
    • Granger Clive, W.J.1    Hyung, N.2    Jeon, Y.3
  • 23
    • 33748065484 scopus 로고
    • Spurious Regressions in Econometrics
    • Paul Newbold (1974), "Spurious Regressions in Econometrics," Journal of Econometrics, 2 (2), 111-120
    • (1974) Journal of Econometrics , vol.2 , Issue.2 , pp. 111-120
    • Newbold, P.1
  • 24
    • 0001777659 scopus 로고
    • Errors in Variables in Panel Data
    • Griliches, Zvi and Jerry A. Hausman (1986), "Errors in Variables in Panel Data," Journal of Econometrics, 31 (1), 93-118.
    • (1986) Journal of Econometrics , vol.31 , Issue.1 , pp. 93-118
    • Griliches, Z.1    Hausman, J.A.2
  • 26
    • 0346703006 scopus 로고    scopus 로고
    • Spurious Regression and Residual-Based Tests for Cointegration in Panel Data
    • Kao, Chihwa (1999), "Spurious Regression and Residual-Based Tests for Cointegration in Panel Data," Journal of Econometrics, 90 (1), 1-44.
    • (1999) Journal of Econometrics , vol.90 , Issue.1 , pp. 1-44
    • Kao, C.1
  • 27
    • 21144478550 scopus 로고
    • Conceptualizing, Measuring, and Managing Customer-Based Brand Equity
    • January
    • Keller, Kevin Lane (1993), "Conceptualizing, Measuring, and Managing Customer-Based Brand Equity," Journal of Marketing, 57 (January), 1-22.
    • (1993) Journal of Marketing , vol.57 , pp. 1-22
    • Keller, K.L.1
  • 28
    • 0004266342 scopus 로고    scopus 로고
    • Englewood Cliffs, NJ: Prentice Hall.
    • - (1998), Strategic Brand Management. Englewood Cliffs, NJ: Prentice Hall.
    • (1998) Strategic Brand Management.
  • 29
    • 1542395917 scopus 로고    scopus 로고
    • How Do Brands Create Value?
    • Donald R. Lehmann (2003), "How Do Brands Create Value?" Marketing Management, 12 (3), 26-31.
    • (2003) Marketing Management , vol.12 , Issue.3 , pp. 26-31
    • Lehmann, D.R.1
  • 30
    • 33847049935 scopus 로고    scopus 로고
    • Brands and Branding: Research Findings and Future Priorities
    • - and -(2006), "Brands and Branding: Research Findings and Future Priorities," Marketing Science, 25 (6), 740-760
    • (2006) Marketing Science , vol.25 , Issue.6 , pp. 740-760
  • 31
    • 22444452289 scopus 로고    scopus 로고
    • Exploring the Brand Value-Shareholder Value Nexus for Consumer Goods Companies
    • Kerin, Roger A. and Raj Sethuraman (1998), "Exploring the Brand Value-Shareholder Value Nexus for Consumer Goods Companies," Journal of the Academy of Marketing Science, 26 (4), 260-273 (Pubitemid 128135295)
    • (1998) Journal of the Academy of Marketing Science , vol.26 , Issue.4 , pp. 260-273
    • Kerin, R.A.1    Sethuraman, R.2
  • 33
    • 39049114145 scopus 로고    scopus 로고
    • Unrecorded Intangible Assets: Abnormal Earnings and Valuation
    • Kohlbeck, Mark and Terry D. Warfield (2007), "Unrecorded Intangible Assets: Abnormal Earnings and Valuation," Accounting Horizons, 21 (1), 23-31.
    • (2007) Accounting Horizons , vol.21 , Issue.1 , pp. 23-31
    • Kohlbeck, M.1    Warfield, T.D.2
  • 34
    • 0348002828 scopus 로고    scopus 로고
    • Multiples Used to Estimate Corporate Value
    • Lie, Erik and Heidi J. Lie (2002), "Multiples Used to Estimate Corporate Value," Financial Analysts Journal, 58 (2), 44-54.
    • (2002) Financial Analysts Journal , vol.58 , Issue.2 , pp. 44-54
    • Lie, E.1    Lie, H.J.2
  • 36
    • 34247633040 scopus 로고    scopus 로고
    • Is Cash Flow King in Valuations?
    • -, -, and -(2007), "Is Cash Flow King in Valuations?" Financial Analysts Journal, 63 (2), 1-13.
    • (2007) Financial Analysts Journal , vol.63 , Issue.2 , pp. 1-13
  • 37
    • 34247134472 scopus 로고    scopus 로고
    • Advertising, Research and Development, and Systematic Risk of the Firm
    • January
    • McAlister, Leigh, Raji Srinivasan, and MinChung Kim (2007), "Advertising, Research and Development, and Systematic Risk of the Firm," Journal of Marketing, 71 (January), 35-48.
    • (2007) Journal of Marketing , vol.71 , pp. 35-48
    • McAlister, L.1    Srinivasan, R.2    Kim, M.3
  • 38
    • 33745999440 scopus 로고    scopus 로고
    • How Does Objective Quality Affect Perceived Quality? Short-Term Effects, Long-Term Effects, and Asymmetries
    • Mitra, Debanjan, and Peter N. Golder (2006), "How Does Objective Quality Affect Perceived Quality? Short-Term Effects, Long-Term Effects, and Asymmetries," Marketing Science, 25 (3), 230-248
    • (2006) Marketing Science , vol.25 , Issue.3 , pp. 230-248
    • Mitra, D.1    Golder, P.N.2
  • 39
    • 40549131050 scopus 로고    scopus 로고
    • The Financial Value Impact of Perceptual Brand Attributes
    • February
    • Mizik, Natalie and Robert Jacobson (2008), "The Financial Value Impact of Perceptual Brand Attributes," Journal of Marketing Research, 45 (February), 15-32.
    • (2008) Journal of Marketing Research , vol.45 , pp. 15-32
    • Mizik, N.1    Jacobson, R.2
  • 40
    • 21344487808 scopus 로고
    • A Survey-Based Method for Measuring and Understanding Brand Equity and Its Extendability
    • May
    • Park, C.S. and V. Srinivasan (1994), "A Survey-Based Method for Measuring and Understanding Brand Equity and Its Extendability," Journal of Marketing Research, 31 (May), 271-288
    • (1994) Journal of Marketing Research , vol.31 , pp. 271-288
    • Park, C.S.1    Srinivasan, V.2
  • 41
    • 8644285309 scopus 로고    scopus 로고
    • New Products, Sales Promotions, and Firm Value: The Case of the Automobile Industry
    • October
    • Pauwels, Koen, Jorge Silva-Risso, Shuba Srinivasan, and Dominique M. Hanssens (2004), "New Products, Sales Promotions, and Firm Value: The Case of the Automobile Industry," Journal of Marketing, 68 (October), 142-156
    • (2004) Journal of Marketing , vol.68 , pp. 142-156
    • Pauwels, K.1    Silva-Risso, J.2    Srinivasan, S.3    Hanssens, D.M.4
  • 42
    • 84892702170 scopus 로고    scopus 로고
    • Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
    • Petersen, Mitchell A. (2009), "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," Review of Financial Studies, 22 (1), 435-480
    • (2009) Review of Financial Studies , vol.22 , Issue.1 , pp. 435-480
    • Petersen Mitchell, A.1
  • 43
    • 70449402061 scopus 로고    scopus 로고
    • Evidence Concerning the Importance of Perceived Brand Differentiation
    • Romaniuk, Jenni, Byron Sharp, and Andrew Ehrenberg (2007), "Evidence Concerning the Importance of Perceived Brand Differentiation," Australasian Marketing Journal, 15 (2), 42-54.
    • (2007) Australasian Marketing Journal , vol.15 , Issue.2 , pp. 42-54
    • Romaniuk, J.1    Sharp, B.2    Ehrenberg, A.3
  • 44
    • 70449373757 scopus 로고    scopus 로고
    • BRAN*EQT: A Model and Simulator for Estimating, Tracking, and Managing Multicategory Brand Equity
    • Shankar, Venkatesh, Pablo Azar, and Matthew Fuller (2007), "BRAN*EQT: A Model and Simulator for Estimating, Tracking, and Managing Multicategory Brand Equity," MSI Working Paper Series, Report 07-108.
    • (2007) MSI Working Paper Series, Report , pp. 07-108
    • Shankar, V.1    Azar, P.2    Fuller, M.3
  • 46
    • 0347372296 scopus 로고
    • The Measurement and Determinants of Brand Equity: A Financial Approach
    • Simon, Carol J. and Mary W. Sullivan (1993), "The Measurement and Determinants of Brand Equity: A Financial Approach," Marketing Science, 12 (1), 28-52.
    • (1993) Marketing Science , vol.12 , Issue.1 , pp. 28-52
    • Simon Carol, J.1    Sullivan, M.W.2
  • 47
    • 25844462967 scopus 로고    scopus 로고
    • An approach to the measurement, analysis, and prediction of brand equity and its sources
    • DOI 10.1287/mnsc.1050.0405
    • Srinivasan, V., Chan Su Park, and Dae Ryun Chang (2005), "An Approach to the Measurement, Analysis, and Prediction of Brand Equity and Its Sources," Management Science, 51 (9), 1433-1448 (Pubitemid 41394247)
    • (2005) Management Science , vol.51 , Issue.9 , pp. 1433-1448
    • Srinivasan, V.1    Park, C.S.2    Chang, D.R.3
  • 48
    • 35348966182 scopus 로고    scopus 로고
    • Monitoring the Dynamics of Brand Equity Using Store-Level Data
    • April
    • Sriram, S., Subramanian Balachander, and Manohar U. Kalwani (2007), "Monitoring the Dynamics of Brand Equity Using Store-Level Data," Journal of Marketing, 71 (April), 61-78.
    • (2007) Journal of Marketing , vol.71 , pp. 61-78
    • Sriram, S.1    Balachander, S.2    Kalwani, M.U.3
  • 49
    • 0032373171 scopus 로고    scopus 로고
    • Market-Based Assets and Shareholder Value: A Framework for Analysis
    • Srivastava, Rajendra K., Tasadduq A. Shervani, and Liam Fahey (1998), "Market-Based Assets and Shareholder Value: A Framework for Analysis," Journal of Marketing, 62 (January), 2-18. (Pubitemid 128119774)
    • (1998) Journal of Marketing , vol.62 , Issue.1 , pp. 2-18
    • Srivastava, R.K.1    Shervani, T.A.2    Fahey, L.3
  • 51
    • 38549141843 scopus 로고    scopus 로고
    • Brand Effects on Choice and Choice Set Formation under Uncertainty
    • Swait, Joffre and Tülin Erdem (2007), "Brand Effects on Choice and Choice Set Formation Under Uncertainty," Marketing Science, 26 (5), 679-698
    • (2007) Marketing Science , vol.26 , Issue.5 , pp. 679-698
    • Swait, J.1    Erdem, T.2
  • 52
    • 34247479655 scopus 로고    scopus 로고
    • The Impact of a Product-Harm Crisis on Marketing Effectiveness
    • Van Heerde, Harald, Kristiaan Helsen, and Marnik G. Dekimpe (2007), "The Impact of a Product-Harm Crisis on Marketing Effectiveness," Marketing Science, 26 (2), 230-248
    • (2007) Marketing Science , vol.26 , Issue.2 , pp. 230-248
    • Van Heerde, H.1    Helsen, K.2    Dekimpe, M.G.3
  • 53
    • 0000095552 scopus 로고
    • A Heteroskedastic-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
    • White, Halbert L. (1980), "A Heteroskedastic-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, 48 (4), 817-838
    • (1980) Econometrica , vol.48 , Issue.4 , pp. 817-838
    • White Halbert, L.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.