非财务指标的经济后果——顾客满意度与未来财务业绩研究分析论文.docVIP

外文翻译 原文 Customer Satisfaction and Future Financial Pcrformancc Discussion of Arc Nonfinancial Measures Leading Indicators of Financial Performance? An Analysis of Customer Satisfaction Material SourceiJoumal Of Accounting Research AuthoriRichard A. Lambert IIntroduction Inner and Larkers paper is one of the first to empirically examine the relation between customer satisfaction measures and economic variables like customer retention,future sales,and stock price. The theory is that more-satisfied customers will return with their friends and buy again in the future. Under generally accepted accounting principles, neither these future revenues nor their capitalized values appear on firms financial statements. Moreover, the current and past expenditures made to generate customer satisfaction are treated as expenses, not as assets. Customer satisfaction measures therefore are hypothesized to be indicators of future revenue, and perhaps fiiture profits. It is hard to find fault with this argument. In fact, the paper does not provide any theories or arguments that suggest anything otherwise. The apparent virtues of customer satisfaction measures are well recognized by companies, and many companies cite customer satisfaction as a primary objective in their mission statements. They expend resources to collect customer satisfaction data for their own internal purposes and increasingly arc tying executive compensation to customer satisfaction measures. By packaging three studies into one paper, the authors are able to address a wider range of hypotheses relating to customer satisfaction than they could with any single study. The first study examines the relation between customer satisfaction and customer retention and future revenues at the individual consumer level for a telecommunications company. The second study looks at customer satisfactions levels aggregated at the branch level for a bank. This enables the authors to examine both spillover cffccts to o