The Performance of Global Brands in the 2008 Financial Crisis: A Test of Two Brand Value Measures

The financial brand value chain: How brand investments contribute to the financial health of firms

“…Other studies suggest that advertising/brand equity reduces the systematic market risk of a firm (e.g., Johansson, Dimofte, & Mazvancheryl, 2012;McAlister, Srinivasan, & Kim, 2007). Collectively, prior studies provide substantial evidence that both advertising expenditures and brands are value-relevant, i.e.…”

“…Researchers have used both customer-based measures (e.g., Johansson et al, 2012;Mizik & Jacobson, 2008;Rego et al, 2009) and financial measures of brand equity (e.g., Barth et al, 1998;Madden, Fehle, & Fournier, 2006) to analyze the financial implications of brand investments. Customer mind-set measures evaluate the customer-based sources of brand equity while financial measures summarize the net benefit from brand equity in a single dollar metric that reflects the value of the intangible asset (Ailawadi, Lehmann, & Neslin, 2003;Keller & Lehmann, 2003).…”

“…More than 40,000 U.S. consumers of more than 1,500 large brands across diverse industry categories are surveyed online to measure consumers' brand knowledge and perceptions (Johansson, Dimofte, & Mazvancheryl, 2012;Rego et al, 2009) For the same period, we collected all yearly necessary financial data from COMPUSTAT, the Center for Research in Security Prices (CRSP), and Bloomberg's. In total, we cover 155 firms from ten industry sectors in our database.…”

Improving Consumer Mindset Metrics and Shareholder Value through Social Media: The Different Roles of Owned and Earned Media

“…Previous research has shown that favorable consumer mindset metrics translate to higher stock performance with lower risk (Fornell et al 2006;Johansson, Dimofte, and Mazvancheryl 2012;Mizik and Jacobson 2008). Tuli and Bharadwaj (2009) report that firms with superior customer satisfaction have lower systematic risk.…”

Relating Brand Equity and Customer Equity: An Exploratory Study

“…Brand management incorporates several types of element, such as goods and services information, related benefits, users, quality, attitudes towards products, brand awareness, brand associations and brand loyalty, among others (Aaker 1991;Keller 1993Keller , 2003 . These elements have a financial counterpart because they are able to moderate customer choice and therefore affect brand sales (Srivastava et al 1998;Barwise & Farley 2004;Rao et al 2004;Johansson et al 2012) . From a purely financial perspective, BE includes the expected extra cash flows that a branded good or service will provide to the company with regard to another one having exactly the same features but without a brand name or brand-building efforts (Shocker & Weitz 1988;Fischer 2007;Shankar et al 2008) .…”