Journal Article

The Value of Loyal Customers

Abstract: Is there a rational reason that stock prices in some industries greatly exceed book values? The answer may lie in the idea that customers are capital.

Keywords: stocks; customers; business; advertising;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Economic Insights

Publication Date: 2017-04

Volume: 2

Issue: 2

Pages: 11-17