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Ownership structure, customer satisfaction and brand equity

Anna Torres () and Josep Tribó
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Anna Torres: https://www.upf.edu/web/econ/faculty/-/asset_publisher/6aWmmXf28uXT/persona/id/3418621

Authors registered in the RePEc Author Service: Anna Torres Lacomba ()

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: This paper studies the interaction between ownership structure, taken as a proxy for shareholders’ commitment, and customer satisfaction - the main driver of consumer loyalty - and their impact on a firm’s brand equity. The results show that customer satisfaction has a positive direct effect on brand equity but an indirect negative one because of reductions in ownership concentration. This latter effect emerges when managers are mainly customer-oriented. Such result gives out a warning signal that highlights the perverse effect of implementing policies, focused excessively on satisfying customers at the expense of shareholders, on a firm’s brand equity. The empirical analysis uses an incomplete panel data comprising 69 firms from 11 nations, for the period 2002-2005.

Keywords: Corporate social responsibility; brand equity; shareholders’ commitment and customer loyalty (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2007-03, Revised 2007-06
New Economics Papers: this item is included in nep-mkt and nep-soc
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