The financial value impact of perceptual brand attributes
Mizik and Jacobson test which brand asset metrics add explanatory power for stock returns beyond accounting measures, using five attributes from a survey-based brand measure: differentiation, relevance, esteem, knowledge and energy. Relevance and energy add information; esteem and knowledge do not, since their effects already appear in current accounting results. Changes in differentiation signal future accounting performance, which affects returns. Results hold across alternative performance measures, risk adjustments and additional attributes. The full text was not read.
Mizik and Jacobson test which brand asset metrics add explanatory power for stock returns beyond accounting measures, using five attributes from a survey-based brand measure: differentiation, relevance, esteem, knowledge and energy. Relevance and energy add information; esteem and knowledge do not, since their effects already appear in current accounting results. Changes in differentiation signal future accounting performance, which affects returns. Results hold across alternative performance measures, risk adjustments and additional attributes. The full text was not read.
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Mizik, N., & Jacobson, R. (2008). The financial value impact of perceptual brand attributes. Journal of Marketing Research, 45(1). doi:10.1509/jmkr.45.1.15 https://doi.org/10.1509/jmkr.45.1.15