Customer Satisfaction and Shareholder Value
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- 1 October 2004
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing
- Vol. 68 (4) , 172-185
- https://doi.org/10.1509/jmkg.68.4.172.42723
Abstract
In this article, the authors develop a theoretical framework that specifies how customer satisfaction affects future customer behavior and, in turn, the level, timing, and risk of future cash flows. Empirically, they find a positive association between customer satisfaction and shareholder value. They also find significant variation in the association across industries and firms.Keywords
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