品牌权益与资本市场反应的关联性研究综述  

Research on the Correlation between Brand Equity and Capital Market Response

作　　者：何浏[1,2] 黎小林[3,2] 杨伊侬[1] 王海忠[2] 

机构地区：[1]五邑大学经济管理学院,广东江门529020 [2]中山大学管理学院,广东广州510275 [3]广东商学院工商管理学院,广东广州510320

出　　处：《广东商学院学报》2011年第5期25-34,共10页Journal of Guangdong University of Business Studies

基　　金：广东省软科学项目(2010B070300108);教育部哲学社会科学重大课题攻关项目(08JZD0019);广州市社科基金(08B02)项目

摘　　要：品牌权益可以从消费者和公司两个层面来定义和测量,其中消费者层面的品牌权益主要从品牌权益的来源来测量,公司层面的品牌权益主要从品牌权益的结果来测量。研究品牌活动对资本市场股东价值的影响主要有营销生产率链模型、营销价值链模型和品牌价值链模型;研究品牌价值的资本市场反映计量主要有"四因素"财务模型、"事件研究"法和"股票回报响应"模型。研究品牌资产及其价值在金融资本市场的表现,有利于企业经营者确立"长期绩效导向"的理念,并为资本市场相关者提供一个全新的投资决策分析视角。Companies are more interested than ever in understanding and measuring their returns obtained from marketing investments. The accountability and ROI of marketing expenditures continues to be a key area of concern. Taking the brand value chain theory as the analytic frame, following the research model for the maim study cues, and sorting out and reviewing the relevant literatures from theories of brand value and capital market response, the paper provides a clear idea map to explore the concept of brand equity structure, and a related path to reveal the influencing mechanism between brand equity and capital market value. It assumes that the research on the capital market performance of brand asset and its value helps business managers establish their management philosophy of a ＂long term performance orientation＂ and provides a new perspective of investment for capital market participators. Lastly, it proposes some important implications for related academic researches and future research directions.

关 键 词：品牌营销 品牌权益 品牌资产 资本市场 

分 类 号：F273.2[经济管理—企业管理] F830.91[经济管理—国民经济] F224