Customer-based corporate valuation: integrating the concepts of customer equity and shareholder value
Abstract: Purpose – Synthesis of the customer lifetime value and the shareholder value (SHV) approach in order to develop an integrated, marketing-based method for corporate valuation. Design/ methodology/ approach – Discusses the limitations and assumptions of existing methods to estimate customer value components and examines the limitations of the SHV concept. By linking the customer equity (CE) and the SHV approach, a formal model to calculate corporate value is developed. The discounted cash flow method is used for modelling the profit streams. Findings – Provides formulas for the estimation of both the individual lifetime value of a customer and CE. Provides a comprehensive model to estimate corporate value based on customer-related cash flows and traditional financial metrics. Introduces typical cases, in which the use of a customer-based valuation seems beneficial. Illustrates how our approach can be applied by using a simple case study on M&A in the telecommunication industry. Gives
- Location
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Deutsche Nationalbibliothek Frankfurt am Main
- Extent
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Online-Ressource
- Language
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Englisch
- Notes
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Veröffentlichungsversion
begutachtet
In: Management Decision ; 43 (2005) 3 ; 331-348
- Event
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Veröffentlichung
- (where)
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Mannheim
- (when)
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2005
- Creator
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Bauer, Hans H.
Hammerschmidt, Maik
- URN
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urn:nbn:de:0168-ssoar-5819
- Rights
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Open Access; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Last update
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25.03.2025, 1:49 PM CET
Data provider
Deutsche Nationalbibliothek. If you have any questions about the object, please contact the data provider.
Associated
- Bauer, Hans H.
- Hammerschmidt, Maik
Time of origin
- 2005
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