--Nov 10, 2008
Financial metrics Illustrative Papers
Cash flow volatility Gruca and Rego 2005
Fischer et al. 2006
Systematic risk Fornell et al. 2006
McAlister et al. 2007
Aksoy et al 2008
Idiosyncratic risk Luo 2007, 2009
Tobin’s q Simon and Sullivan 1993
Rao et al. 2004
Firm valuation Pauwels et al. 2004
Market-to-book ratio Fornell et al. 2006
Stock returns Fang et al. 2008 1Stock value gap Sorescu and Spanjol 2008
Morgan and Rego 2009
Aksoy et al 2008
Srinivasan et al. 2009 2Joshi and Hanssens 2009
Luo and Homburg 2008
Return on assets Bayus, Erickson, and Jacobson 2003
Return on sales
Return on equity
DV IV Illustrative Papers Analyst earning forecasting, Advertising and R&D Luo and De Jong Long-term abnormal stock return expenditure
Analyst recommendations Customer satisfaction Luo, Homburg, and Wieseke Analyst coverage Advertising and R&D Barth, Kasznik, and Manichols
Analyst forecast consensus (the Advertising and R&D Barron, Byard, Kile, and Riedl
correlation in analysts' forecast expenditure 2002
1 Sorescu, Alina B. and Spanjol, Jelena (2008) “Innovation's Effect on Firm Value and Risk: Insights
from Consumer Packaged Goods.” Journal of Marketing, 72 (2), p114-132. 2 Joshi, Amit M. and Dominique M. Hanssens, “Movie Advertising and the Stock Market Valuation of
Studios: A Case of "Great Expectations?" Marketing Science, forthcoming.
Feedback from stock prices to marketing strategy IV DV Illustrative Papers
Stock return Firm’s decision making Rappaport 1987
Analyst forecasts Subrahmanyam and Titman 2001
Markovitch, Steckel, and Yeung
Cash flow, volatility Capital expenditures, R&D, Minton and Schrand 1999
Stock return, volatility, WOM, Stock return, volatility, WOM, Luo 2009
cash flows cash flows
Stock price Sales increase, firm survival Markovitch and Golder 2008
Marketing metrics Illustrative Metrics Illustrative Papers
Brand Equity Financial World’s measure of brand Barth et al. 1998
equity Mizik and Jacobson 2008 3 Young and Rubicam Brand Asset Bahadir et al. 20081Morgan and Rego 2009 Valuator
Goldfarb, Lu, and Moorthy 2009
Customer American Customer Ittner and Larcker 1998
Satisfaction Satisfaction Index Anderson et al. 2004
Fornell et al. 2006
Luo and Homburg 2008
Luo and Nguyen 2008
Villanueva, Yoo, and Hanssens 2008 4Aksoy et al 2008
Anderson and Sattar A. Mansi 2009
Customer Metrics Customer Lifetime Value (CLV) Gupta et al. 2004
Customer Equity (CE) Maxham, Netemeyer, and
Product Quality Equitrend Perceived Quality Aaker and Jacobson 1994
JDPA Perceived Appeal and Quality Srinivasan et al. 2007
Product Review (Lexis- Nexis) Tellis and Johnson 2007
Word of mouth Service transition strategy Fang, Palmatier, and Steenkamp 5Marketing spendings Marketing strategy 2008
Seog 2009 6Other Marketing capability Krasnikov and Jayachandran 2008
Merger and Acquisition Swaminathan, Murshed, and Hulland 72008
Srinivasan and Hanssens 2009
3 Bahadir, S. Cem, Bharadwaj, Sundar G, and Srivastava, Rajendra K.(2008), “Financial Value of Brands in Mergers and Acquisitions: Is Value in the Eye of the Beholder?” Journal of Marketing, 72 (6), p49-64 4 Aksoy, Lerzan, Bruce Cooil, Christopher Groening, Timothy L Keiningham, and Atakan Yalçın (2008),
“The Long-Term Stock Market Valuation of Customer Satisfaction,” Journal of Marketing, 2008, 72 (4), p105-122.
5 Fang, Eric (Er), Robert W Palmatier, and Jan-Benedict E.M. Steenkamp (2008), “ Effect of Service Transition Strategies on Firm Value,” Journal of Marketing, 72 (5), p1-14.
6 Krasnikov, Alexander and Satish Jayachandran (2008), “The Relative Impact of Marketing, Research-
and-Development, and Operations Capabilities on Firm Performance,” Journal of Marketing, 72 (4), p1-11.
7 Swaminathan, Vanitha, Feisal Murshed, and John Hulland (2008), “Value Creation Following Merger and Acquisition Announcements: The Role of Strategic Emphasis Alignment,” Journal of Marketing Research (JMR), 45 (1), p33-47.
Advertising Advertising dollars Joshi and Hanssens 2007
(COMPUSTAT) McAlister et al. 2006
Advertising dollars Srinivasan, Pauwels, Silva-Risso and
(TNS Media) Hanssens 2009 Promotions Promotional expenditures Pauwels et al. 2004
(J.D. Power and Associates)
Distribution Channel Channel additions (Newspaper search Geyskens et al. 2002
of Internet channel additions)
New Products Product preannouncements Chaney et al. 1991
(Lexis-Nexis) Sorescu et al. 2006
New product introductions Pauwels et al. 2004
(J.D. Power and Associates Srinivasan et al. 2007
Srinivasan, Pauwels, Silva-Risso &
Journal of marketing year Illustrative papers 2 2009 Morgan and Rego3Srinivasan, Pauwels, Silva-Risso, and Hanssens 2008 Sorescu and Spanjol
Aksoy et al
Luo and Homburg
Fang, Palmatier, and Steenkamp
Krasnikov and Jayachandran
2007 McAlister et al
Journal of marketing research
year Illustrative papers 42009 Anderson and Mansi 5Srinivasan and Hanssens
2008 Villanueva, Yoo, and Hanssens
Swaminathan, Murshed, and Hulland 6Slotegraaf and Pauwels 7Heerde, and Pauwels
2007 Sorescu, Shankar, and Kushwaha 8Chu, Chintagunta, and Vilcassim 9Luo, Rindfleisch, and Tse
year Illustrative papers 102009 Goldfarb, Lu, and Moorthy 11Mizik 12Seog
Joshi and Hanssens 13Sood 142008 Maxham, Netemeyer, and Lichtenstein 15Markovitch and Golder
2007 Tellis and Johnson
1 Neil A. Morgan and Lopo L. Rego (2009), “Brand Portfolio Strategy and Firm Performance,” Journal of
2Morgan, Neil A. and Lopo L. Rego (2009), “Brand Portfolio Strategy and Firm Performance”, Journal of
3 Srinivasan, Shuba, Koen Pauwels, Jorge Silva-Risso and Dominique M. Hanssens (2009), “Product
Innovations, Advertising and Stock Returns”, Journal of Marketing, forthcoming.
4 Anderson, Eugene W. and Sattar A. Mansi (2009), “Does Customer Satisfaction Matter to Investors? Findings from the Bond Market,” Journal of Marketing Research, forthcoming.
5 Srinivasan, Shuba and Dominique M. Hanssens (2009), “Marketing and Firm Value: Metrics, Methods, Findings, and Future Directions”, Journal of Marketing Research, forthcoming.
6 Slotegraaf, Rebecca J and Koen Pauwels (2008), “The Impact of Brand Equity and Innovation on the Long-Term Effectiveness of Promotions,” Journal of Marketing Research (JMR), 45(3), p293-306. 7 Heerde,Harald J. van, Els Gijsbrechts, and Koen Pauwels (2008), “Winners and Losers in a Major Price War,” Journal of Marketing Research (JMR), 45(5), p499-518.
8 Chu, Chintagunta, and Vilcassim (2007), “Assessing the Economic Value of Distribution Channels: An Application to the Personal Computer Industry,” Journal of Marketing Research, 44 (1), p29-41. 9 Luo, Rindfleisch, and Tse (2007), “Working with Rivals: The Impact of Competitor Alliances on Financial Performance.” Journal of Marketing Research (JMR), 44 (1), p73-83. 10 Goldfarb ,Avi, Qiang Lu, and Sridhar Moorthy (2009), “Measuring Brand Value in an Equilibrium Framework,” Marketing Science, Forthcoming.
11 Jacobson, Mizik (2009), “The Financial Markets and Customer Satisfaction: Re-examining the Value Implications of Customer Satisfaction from the Efficient Markets Perspective,” Marketing Science,
12 Seog, Hyun (2009), “Financing as a Marketing Strategy,” Marketing Science, Forthcoming.
13 Sood, Tellis (2009), “Do Innovations Really Pay off? Total Stock Market Returns to Innovation,”
Marketing Science, Forthcoming.
14 James G. Maxham, III, Richard G. Netemeyer, and Donald R. Lichtenstein (2008), “The Retail Value
Chain: Linking Employee Perceptions to Employee Performance, Customer Evaluations, and Store
Performance, Marketing Science, 27 (2), p147-167.
15 Markovitch ,Dmitri G. and Peter N. Golder (2008), “Findings—Using Stock Prices to Predict Market Events: Evidence on Sales Takeoff and Long-Term Firm Survival,” Marketing Science, 27 (4), p717-729.