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首页> 外文期刊>Journal of the Academy of Marketing Science >Is customer satisfaction a relevant metric for financial analysts?
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Is customer satisfaction a relevant metric for financial analysts?

机译:客户满意度是否是财务分析师的相关指标?

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This study examines the effects of customer satisfaction on analysts' earnings forecast errors. Based on a sample of analysts following companies measured by the American Customer Satisfaction Index (ACSI), we find that customer satisfaction reduces earnings forecast errors. However, analysts respond to changes in customer satisfaction but not to the ACSI metric per se. Furthermore, the effects of customer satisfaction are asymmetric; for example, analysts are more willing to use good news (i.e. an increase in customer satisfaction information) than bad news (i.e. a decrease in satisfaction). Similarly, customer satisfaction reduces negative deviation more than positive deviation of the analysts' forecasts from actual earnings. Furthermore, the effects of customer satisfaction depend upon the base level of satisfaction that the firm has achieved. Finally, the effects of customer satisfaction on analysts' forecast errors differ across firms with volatile satisfaction scores and those with stable satisfaction scores. We discuss the implications of our results for marketers and participants in financial markets.
机译:这项研究考察了客户满意度对分析师的收益预测误差的影响。根据跟随美国顾客满意度指数(ACSI)衡量公司的分析师样本,我们发现顾客满意度降低了收益预测误差。但是,分析师对客户满意度的变化做出了响应,但对ACSI指标本身没有做出响应。此外,客户满意度的影响是不对称的。例如,与坏消息(即满意度降低)相比,分析师更愿意使用好消息(即提高客户满意度信息)。同样,客户满意度减少的负偏差要大于分析师与实际收益的正偏差。此外,客户满意度的影响取决于公司所达到的基本满意度。最后,对于满意度波动较大的公司和满意度稳定的公司,客户满意度对分析师的预测误差的影响是不同的。我们讨论了结果对营销人员和金融市场参与者的影响。

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