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.
File(s): File format is application/pdf https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/economic-insights/2017/q2/eiq22017_loyalcustomers.pdf
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Economic Insights
Publication Date: 2017-04