The Research On Factors Influencing The Customer Equity Value Based On Financial Indices

Domestic and foreign experts and scholars from marketing, finance and capitalmanagement operation fields have studied the concept, constituent, measurementmethods and management and improvement of customer equity from differentperspectives. However, these research results still have some problems in practicalapplications, for example, the source problem of data used for measuring customerequity. Previous data of measuring customer equity generally are obtained fromcustomer relationship management database of enterprises, but because customer dataare the commercial secrets for each enterprise, they are hard to acquire; and some dataalso need a large number of complicated market researches to get. Therefore, the dataused for measuring customer equity lack of the objectivity and aren’t easy to obtain.Since customer equity have been recognized as part of "intangible assets" in thefinancial statements in theory, moreover, several foreign companies have disclosed anumber of related information with customer equity in its annual report, the customerequity value should also be able to be represented by the specific financial data.Therefore, studying and carrying out the empirical analysis the relationship betweenthe financial indices and customer equity value, and then measuring customer equityby applying objective financial data have become a key issue on the in-depthmeasurement research of customer equity.The subject of this paper is researching the factors influencing supplierenterprise’s customer equity value in the context of B2B, and according to theliterature review of the related theories of customer equity, this paper defines theconstituents of customer equity value: the purchase value, knowledge value andword-of-mouth value. Specifically, firstly, proposed the factors of purchase value,knowledge value and word-of-mouth value respectively and then as far as possibleselected the impersonal, available financial indices as observations of every factor.Secondly, detailedly analyzed and explained how these factors affect thecorresponding value composition of customer equity. Finally, in terms of thequalitative analysis results, by the multiple linear regression method, carried outempirical analysis of the relationship between the factors and purchase value with the open, accessible, objective financial data; through the questionnaire design and survey,empirically analyzed the correlations between the knowledge value andword-of-mouth value and their factors respectively.The empirical analysis results of factors of purchase value show that: thecorrelativity between R&D capability, profitability of the customer corporation and itstotal purchases (purchase value of customer equity) is positive in the longitudinalanalysis; there is the positive correlation between the level of production technology,development capacity and its total purchases in the horizontal analysis. The empiricalanalysis results of factors of knowledge value show that, there is the positivecorrelation between the industry relevance of the customer enterprise and its suppliers,customer enterprise’s position in the industry and innovation capability and theapplied actual number of customer knowledge. The empirical analysis results offactors of word-of-mouth value show that, the correlativity between the desire,capability and opportunities of the customer enterprise and word-of-mouth value ispositive.