The impact of customer capital on company's market value: An empirical study from 100 U.S. stock market leaders
Article Category: Empirical Paper
Data publikacji: 31 gru 2021
Zakres stron: 299 - 312
Otrzymano: 07 maj 2020
Przyjęty: 02 gru 2021
DOI: https://doi.org/10.2478/ijme-2021-0025
Słowa kluczowe
© 2021 Serhii Lehenchuk et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Objective
The aim of the paper is to establish the relationship between the customer capital and the company's market value (MV). Examining this impact seems justified as the topic has been rarely investigated till now.
Methods
The regression analysis was used to achieve the research objective. We analyzed reports of 100 U.S. stock market leaders for 2018, which were prepared in accordance with the requirements of International Financial Reporting Standard 3 «Business Combinations» and included information about customer capital.
Findings
The hypothesis that the customer capital has a direct impact on the company's MV is confirmed by the results of this study.
Practical implication
The proposed regression model (Model 3) can be used for needs of value-based management.
Originality/value
Customer capital as a tool of value-based management is a poorly studied topic in the context of understanding the importance of the role of intangibles in creating value for company.