The Dynamic Effects of Customer Satisfaction on Firm’s Profitability and Value
1
조회
0
다운로드
4
인용
0
참고문헌
키워드
초록
It is natural that firms would like to increase their profits and value through customer satisfaction (CS). It is therefore important for academic and practical purposes to investigate the relationship between CS and firm's performance. Previous studies about this relationship have examined mainly the current effect of CS on firm's performance. According to research that many marketing activities have dynamic effects over time, however, the dynamic effect of CS on firm's performance needs to be tested. Failure to assess the dynamic effects might lead to an underestimation of the impact of CS. This study thus attempts to investigate the dynamic effects of CS on a firm's profitability and value by using panel data analysis. The results show that CS has dynamic effects on a firm's profitability and value. There was a significant improvement in model fit compared with the model examining current effects only. On the other hand, it was difficult to interpret the estimation results of the alternative model incorporating two lagged variables of CS, and there was also a multicollinearity problem.
Abstract
It is natural that firms would like to increase their profits and value through customer satisfaction (CS). It is therefore important for academic and practical purposes to investigate the relationship between CS and firm's performance. Previous studies about this relationship have examined mainly the current effect of CS on firm's performance. According to research that many marketing activities have dynamic effects over time, however, the dynamic effect of CS on firm's performance needs to be tested. Failure to assess the dynamic effects might lead to an underestimation of the impact of CS. This study thus attempts to investigate the dynamic effects of CS on a firm's profitability and value by using panel data analysis. The results show that CS has dynamic effects on a firm's profitability and value. There was a significant improvement in model fit compared with the model examining current effects only. On the other hand, it was difficult to interpret the estimation results of the alternative model incorporating two lagged variables of CS, and there was also a multicollinearity problem.
참고문헌 (25)
- Anderson, Eugene W., "Customer Satisfaction,Market Share and Profitability:Finding from Sweden", Journal of Marketing, 58, pp.53~66 (1994)
- Anderson, Eugene W., "Customer Satisfaction, Productivity and Profitability: Differences Between Goods and Services", Marketing Science, 16(2), pp.129~145 (1997)
- Anderson, EugeneW., "Customer Satisfaction and Shareholder Value", Journal of Marketing, 68, pp.172~185 (2004)
- Bernhardt, Kenneth J., "A Longitudinal Analysis of Satisfaction and Profitability", Journal of Business Research, 47(2), pp.161~171 (2000)
- Choi, Young-Soo, "Usefulness of EVA,EPS,ROA And ROE:An Empirical Analysis", Korean Tax and Accounting Research, 7, pp.337~352 (2000)
- Edvardsson, Bo, "The effects of Satisfaction and Loyalty on Profits and Growth:Products versus Services", Total Quality Management, 11(7), pp.917~927 (2000)
- Fornell, Claes, "A National Customer Satisfaction Barometer: The Swedish Experience", Journal of Marketing, 55, pp.1~21 (1992)
- Greene, William H., "Econometric Analysis" (1997), Prentice Hall
- Grisffin, Abbie, "The Voice of the Customer", Marketing Science, 12, pp.1~27 (1993)
- Gruca, Tomas S., "Customer Satisfaction, Cash Flow and Shareholder Value", Journal of Marketing, 69, pp.115~130 (2005)
- Heerde, Harald J. Van, "The Estimation of Pre- and Postpromotion Dips with Store-Level Scanner Data", 37, pp.383~395 (2000)
- Ittner, Christopher D., "Are Nonfinancial Measures Leading Indicators of Financial Performance? An Analysis of Customer Satisfaction", Journal of Accounting Research, 36, pp.1~35 (1998)
- Jeon, Insoo, "Return on Customer Satisfaction Investment: Is CSI Financially Accountable?", Korean Marketing Review, 20(3), pp.65~84 (2005)
- Kim, Youngchan, "Latent growth curve modeling for the relationship among revenue, loyalty, and customer satisfaction", Korean Management Review, 35(4), pp.1203~1221 (2006)
- Koyck, L.M., "Distributed Lags and Investment Analysis" (1954), North-Holland Publishing Company
- Leeflang, Peter S. H., "Building Models for Marketing Decisions" (2000), Kluwer Academic Publishers
- Nelson, Eugene C., "Do Patient Perceptions of Quality relate to Hospital Financial Performance?", Journal of Health Care Marketing, pp.6~13 (1992)
- Park, Sang-June, "Customer Satisfaction Index and Business Performance", Korean Marketing Review, 18(3), pp.19~50 (2003)
- Simon, Hermann, "Price Management" (1989), North-Holland
- Tornow, Walter W., "Service Quality and Management Practices: A Look at Employee Attitudes, Customer Satisfaction, and Bottom-line Consequences", Human Resource Planning, 14(2), pp.105~115 (1991)
- Yeung, Matthew C.H., "From Customer Satisfaction to Profitability", Journal of Strategic Marketing, 8, pp.313~326 (2000)
- Yeung, Matthew C.H., "Customer Satisfaction and Profitability: A Reappraisal of the Nature of the Relationship", ournal of Targeting Measurement and Analysis for Marketing, 11(1), pp.24~33 (2002)
- Yi, Youjae, "A Theoretical Examination of Customer Satisfaction Research: Findings and Outlook", Journal of Consumer Studies, 11(2), pp.139~166 (2000)
- Yi, Youjae, "The Effects of Customer Satisfaction on Firm’s Profitability and Value", Korean Marketing Review, 21(2), pp.85~113 (2006)
- Yi, Youjae, "The Role of Customer Loyalty Variables in the Effects of Customer Satisfaction on Firm’s Performance", Journal of Korean Marketing Association, 22(1), pp.81~102 (2007)