Customer Satisfaction and Stock Returns Risk
نویسندگان
چکیده
منابع مشابه
Customer Satisfaction and Stock Prices: High Returns, Low Risk
Do investments in customer satisfaction lead to excess returns? If so, are these returns associated with higher stock market risk? The empirical evidence presented in this article suggests that the answer to the first question is yes, but equally remarkable, the answer to the second question is no, suggesting that satisfied customers are economic assets with high returns/low risk. Although thes...
متن کاملCommentary - The Economic and Statistical Significance of Stock Returns on Customer Satisfaction
A to Jacobson and Mizik [Jacobson, R., N. Mizik. 2009. The financial markets and customer satisfaction: Reexamining possible financial market mispricing of customer satisfaction. Marketing Sci. 28(5) 810–819], excess stock portfolio returns for firms with strong customer satisfaction are small and statistically insignificant, and if there is any above-market performance at all, it is due to a s...
متن کاملComoment risk and stock returns
Article history: Received 27 June 2012 Received in revised form 26 June 2013 Accepted 2 July 2013 Available online 10 July 2013 We estimate investable comoment equity risk premiums for the US markets. The stock's contribution to the asymmetry and the fat tails of the market portfolio's payoff are priced into a coskewness premium and a cokurtosis premium. We construct zero-investment strategies ...
متن کاملDefault Risk, Shareholder Advantage, and Stock Returns∗
In this paper, we study the relationship between default probability and stock returns. Using the market-based measure of Expected Default Frequency (EDF) constructed by Moody’s KMV, we first demonstrate that higher default probabilities are not necessarily associated with higher expected stock returns, a finding that complements the existing empirical evidence. We then show that the puzzling...
متن کاملValue at Risk and Expected Stock Returns
This paper provides empirical evidence that firm size, liquidity, and Value-at-Risk (VaR) explain the cross-sectional variation in expected returns, while market beta and total volatility have almost no power to capture the cross-section of expected returns at the firm level. The strong positive relation between average returns and VaR turns out to be robust across different investment horizons...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Marketing
سال: 2009
ISSN: 0022-2429,1547-7185
DOI: 10.1509/jmkg.73.6.184