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Recent research has strengthened the idea that customer satisfaction boosts
Shareholder Value (SV) by increasing cash flow growth and reducing its
volatility (Anderson et al., 2004; Gruca and Rego, 2005).
Akroush’s (2012) comprehensive study concluded that marketing orientation
can substantially improve both customer satisfaction and financial
performance with a significant impact on SV.
Akroush, M. (2012) An empirical model of marketing strategy and shareholder value - A value-based marketing perspective. Competitiveness
Review: An International Business Journal. Vol.22(1), pp.48-89.
Anderson, E.; Fornell, C. ; Mazvancheryl, S. (2004) Customer Satisfaction and Shareholder Value. Journal of Marketing. Vol.68(4), pp.172-
185.
Doyle, P. (2000) Value-based marketing. Journal of Strategic Marketing. Vol.8, pp.299-311.
Gruca, T.; Rego, L. (2005) Customer Satisfaction, Cash Flow, and Shareholder Value. Journal of Marketing. Vol.69(3), pp.115-130.
Hooley, G. J.; Piercy, N.; Nicoulaud, B. (2008) Marketing strategy and competitive positioning. 4th ed. Harlow : Financial Times Prentice
Hall.
Mcdonald, M. (2006) Do your marketing strategies create or destroy shareholder value?. The Journal of Database Marketing & Customer
Strategy Management. Vol.13(2), pp.102-107(6).
Rappaport, A. (1988) Cash flow analysis of corporate performance. (Finance: A Guide to Creating Shareholder Value). Small Business
Reports, Vol.13(9), p.80-87.
Ryals, L.; Knox, S. (2005) Measuring risk-adjusted customer lifetime value and its impact on relationship marketing strategies and
shareholder value. European Journal of Marketing. Vol.39(5-6), pp.456-472.
Srivastava, R. K. ; Shervani, T. A. ; Fahey, L. (1999) Marketing, business processes, and shareholder value: An organizationally embedded
view of marketing activities and the discipline of marketing. Journal of Marketing. Vol.63, pp.168-179.
by Salomé Correia
August 19th, 2015