Relationship between Customer Equity andThe Relationship between Customer Equity andMarket Value of Netflix and E-trade

• Main Authors: Hsin-Yu Chao, 趙心瑜
• Other Authors: 曹修源
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/9rg7tw

碩士 === 國立中興大學 === 行銷學系所 === 102 === The intangible assets of financial statements are not, on their own, sufficient to meet the need of investors. Therefore, in order to make up this defect, this research discusses whether future customer cash flow could response on market value. The data was estimated using quarterly data of Netflix and E-trade from 2003 to 2013. The main purpose of the research is to discuss the relation between customer equity and market value by regression analysis. First, the author ran a simple regression with market value of a company as the dependent variable and customer value as the independent variable. Second, we added an adjustment factor, called the customer equity index (market value over customer equity) as independent variables. The first results showed that customer equity of Netflix can predict market value. The results of E-trade regression analysis indicate that customer equity alone were unable to reliably predict market value. Therefore, after adding customer equity index,the results showed that Netflix and E-trade produced a good prediction. However,customer equity index along with customer equity did constitute a good predictor of market value. Our research inferred that charging system and definition of calculation customer equity were all different. This may lead customer equity can’t alone predict market value. Besides, we could observe from yearly marketing events. When big issue affects the parameters of customer equity and it will affect customer equity and market value. This research did a regression analysis in the dynamic and static model, adding an independent variable Leverage Effect. It’s proved that customer equity and LE can predict market value more precisely. In this dynamic customer equity, we can predict future market value. This is one of the investment valuations offering for shareholders and investors.