FIRM PERFORMANCE: HOW HAS IT BEEN MEASURED IN MARKETING AND FINANCE RESEARCH?
Resumen
Conduzimos um levantamento sobre como a performance das empresa está sendo mensurada ao analisar 119 artigos publicados de 2006 até 2017 em alguns dos mais citados journals de marketing e finanças. Os resultados demonstram a existência de 77 diferentes métricas de performance empresarial. A lista de métricas evidencia como a avaliação desse constructo não é um consenso. Pesquisadores de marketing têm frequentemente usado métricas objetivas e subjetivas. Pesquisadores de finanças não usam nenhuma métrica subjetiva. Adicionalmente, existe uma falta de pesquisas que explorem os aspectos teóricos da performance empresarial e discutam como esse constructo multidimensional deve ser mensurado. É também notável como marketing pode melhorar seu trabalho em performance empresarial através de uma interface com finanças.
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ANGULO, Luis Fernando; RIALP, Josep. The interplay between cumulative customer satisfaction and brand value: Its effect on cash flow, ROI and Tobin's Q. ROI and Tobin's Q (September 8, 2007), 2007.
ASSAF, A. George et al. Internationalization and performance of retail firms: a Bayesian dynamic model. Journal of Retailing, v. 88, n. 2, p. 191-205, 2012.
BRITO, Eliane Pereira Zamith; BRITO, Luiz Artur Ledur; MORGANTI, Fábio. Innovation and corporate performance: profit or growth?. RAE eletrônica, v. 8, n. 1, p. 0-0, 2009.
CHAKRAVARTY, Anindita; KUMAR, Alok; GREWAL, Rajdeep. Customer orientation structure for internet-based business-to-business platform firms. Journal of Marketing, v. 78, n. 5, p. 1-23, 2014.
COMBS, James G.; RUSSELL CROOK, T.; SHOOK, Christopher L. The dimensionality of organizational performance and its implications for strategic management research. In: Research methodology in strategy and management. Emerald Group Publishing Limited, 2005. p. 259-286.
DAY, George; FAHEY, Liam. Valuing market strategies. Journal of Marketing, v. 52, n. 3, p. 45-57, 1988.
DESS, Gregory G.; ROBINSON JR, Richard B. Measuring organizational performance in the absence of objective measures: the case of the privately‐held firm and conglomerate business unit. Strategic Management Journal, v. 5, n. 3, p. 265-273, 1984.
DOYLE, Peter. Valuing marketing's contribution. European Management Journal, v. 18, n. 3, p. 233-245, 2000.
FAMA, Eugene F.; FRENCH, Kenneth R. Industry costs of equity. Journal of Financial Economics, v. 43, n. 2, p. 153-193, 1997.
GIANNETTI, Mariassunta; LIAO, Guanmin; YU, Xiaoyun. The brain gain of corporate boards: Evidence from China. The Journal of Finance, v. 70, n. 4, p. 1629-1682, 2015.
GITMAN, Lawrence J.; JUCHAU, Roger; FLANAGAN, Jack. Principles of managerial finance. Pearson Higher Education AU, 2015.
GLICK, William H.; WASHBURN, Nathan T.; MILLER, C. Chet. The myth of firm performance. In: Annual Meeting of the Academy of Management. 2005.
GONG, Guojin; LOUIS, Henock; SUN, Amy X. Earnings management and firm performance following open‐market repurchases. The Journal of Finance, v. 63, n. 2, p. 947-986, 2008.
GRUCA, Thomas S.; REGO, Lopo L. Customer satisfaction, cash flow, and shareholder value. Journal of Marketing, v. 69, n. 3, p. 115-130, 2005.
HAMANN, P. Maik et al. Exploring the dimensions of organizational performance: A construct validity study. Organizational Research Methods, v. 16, n. 1, p. 67-87, 2013.
HOMBURG, Christian et al. The loss of the marketing department’s influence: is it really happening? And why worry?. Journal of the Academy of Marketing Science, v. 43, n. 1, p. 1-13, 2015.
HYMAN, Michael R.; MATHUR, Ike. Retrospective and prospective views on the marketing/finance interface. Journal of the Academy of Marketing Science, v. 33, n. 4, p. 390-400, 2005.
JEONG, Jaeseok. Exploring the impact of advertising on brand equity and shareholder value. 2004. Doctoral dissertation.
KABADAYI, Sertan; EYUBOGLU, Nermin; THOMAS, Gloria P. The performance implications of designing multiple channels to fit with strategy and environment. Journal of Marketing, v. 71, n. 4, p. 195-211, 2007.
KATSIKEAS, Constantine S. et al. Assessing performance outcomes in marketing. Journal of Marketing, v. 80, n. 2, p. 1-20, 2016.
KNOWLES, Jonathan; AMBLER, Tim. Orientation and marketing metrics. Maclaran, P. et alli. Ed.: The Sage Handbook of Marketing Theory. Los Angeles, Sage, p. 379-396, 2009.
LEHMANN, Donald R. Metrics for making marketing matter. Journal of Marketing, v. 68, n. 4, p. 73-75, 2004.
MADANOGLU, Melih; LEE, Kyuho; CASTROGIOVANNI, Gary J. Franchising and firm financial performance among US restaurants. Journal of Retailing, v. 87, n. 3, p. 406-417, 2011.
MADDEN, Thomas J.; FEHLE, Frank; FOURNIER, Susan. Brands matter: An empirical demonstration of the creation of shareholder value through branding. Journal of the Academy of Marketing Science, v. 34, n. 2, p. 224-235, 2006.
Marketing Science Institute (MSI). Research Priorities 2006-2008: a guide to MSI Research Programs and Procedures. Retrieved April 7, 2008, from http://www.msi.org.
Marketing Science Institute (MSI). Research Priorities 2008 -2010. Retrieved January 15, 2011, from http://www.msi.org/pdf/MSI_RP08-10.pdf.
Marketing Science Institute (MSI). Research Priorities 2010 -2012. Retrieved January 15, 2011, from http://www.msi.org/pdf/MSI_RP10-12.pdf.
Marketing Science Institute (MSI). Research Priorities 2012 -2014. Retrieved August 19, 2012, from http://www.msi.org/research/index.cfm?id=338.
Marketing Science Institute (MSI). Research Priorities 2014 -2016. Retrieved February 06, 2017, from http://www.msi.org/uploads/files/MSI_RP14-16.pdf.
MICHELI, Pietro; MANZONI, Jean-Francois. Strategic performance measurement: Benefits, limitations and paradoxes. Long Range Planning, v. 43, n. 4, p. 465-476, 2010.
MIZIK, Natalie; JACOBSON, Robert. The financial value impact of perceptual brand attributes. Journal of Marketing Research, v. 45, n. 1, p. 15-32, 2008.
MOORMAN, Christine; DAY, George S. Organizing for marketing excellence. Journal of Marketing, v. 80, n. 6, p. 6-35, 2016.
MORGAN, Neil A. Marketing and business performance. Journal of the Academy of Marketing Science, v. 40, n. 1, p. 102-119, 2012.
MORGAN, Neil A.; CLARK, Bruce H.; GOONER, Rich. Marketing productivity, marketing audits, and systems for marketing performance assessment: integrating multiple perspectives. Journal of Business Research, v. 55, n. 5, p. 363-375, 2002.
MORGAN, Neil A.; FENG, Hui; WHITLER, Kimberly A. Marketing capabilities in international marketing. Journal of International Marketing, v. 26, n. 1, p. 61-95, 2018.
PACE, Eduardo Sérgio Ulrich; BASSO, Leonardo Fernando Cruz; SILVA, Marcos Alessandro da. Indicadores de desempenho como direcionadores de valor. Revista de Administração Contemporânea, v. 7, n. 1, p. 37-65, 2003.
REIBSTEIN, David J.; DAY, George; WIND, Jerry. Guest editorial: is marketing academia losing its way?. Journal of Marketing, v. 73, n. 4, p. 1-3, 2009.
RICHARD, Pierre J. et al. Measuring organizational performance: Towards methodological best practice. Journal of Management, v. 35, n. 3, p. 718-804, 2009.
ROSS, S. A.; WESTERFIELD, R. W.; JAFFE, J. F. Corporate Finance, Homewood, IL. McGraw-Hill/Irwin. Previous editions, v. 1993, n. 1996, p. 1999, 1998.
RUST, Roland T. et al. Measuring marketing productivity: Current knowledge and future directions. Journal of Marketing, v. 68, n. 4, p. 76-89, 2004.
RUYTER, Ko; WETZELS, Martin. The marketing–finance interface: A relational exchange perspective. Journal of Business Research, v. 50, n. 2, p. 209-215, 2000.
SAINAGHI, Ruggero; PHILLIPS, Paul; ZAVARRONE, Emma. Performance measurement in tourism firms: A content analytical meta-approach. Tourism Management, v. 59, p. 36-56, 2017.
SHARMA, Amalesh; SABOO, Alok R.; KUMAR, V. Investigating the Influence of Characteristics of the New Product Introduction Process on Firm Value: The Case of the Pharmaceutical Industry. Journal of Marketing, v. 82, n. 5, p. 66-85, 2018.
SHETH, Jagdish N.; SISODIA, Rajendra S. Feeling the heat-part 1. Marketing Management, v. 4, n. 2, p. 8, 1995.
SHETH, Jagdish N.; SISODIA, Rajendra S. Marketing productivity: issues and analysis. Journal of Business Research, v. 55, n. 5, p. 349-362, 2002.
SMART, Scott B.; MEGGINSON, William L.; GITMAN, Lawrence J. Corporate finance. Thomson/South-Western, 2004.
SRIVASTAVA, Rajendra K.; SHERVANI, Tasadduq A.; FAHEY, Liam. Market-based assets and shareholder value: A framework for analysis. Journal of Marketing, v. 62, n. 1, p. 2-18, 1998.
VENKATRAMAN, Natarjan; RAMANUJAM, Vasudevan. Measurement of business performance in strategy research: A comparison of approaches. Academy of management review, v. 11, n. 4, p. 801-814, 1986.
WALL, Toby D. et al. On the validity of subjective measures of company performance. Personnel psychology, v. 57, n. 1, p. 95-118, 2004.
Web of Science. Journal Citation Reports. Retrieved May 15, 2009, from http://webofknowledge.com.
Web of Science. Journal Citation Reports. Retrieved Jan 18, 2018, from http://webofknowledge.com.
WIESEL, Thorsten; SKIERA, Bernd; VILLANUEVA, Julian. Customer equity: an integral part of financial reporting. Journal of Marketing, v. 72, n. 2, p. 1-14, 2008.
ZINKHAN, George M.; VERBRUGGE, James A. The marketing/finance interface: two divergent and complementary views of the firm. Journal of Business Research, v. 50, n. 2, p. 143-148, 2000.
ASSAF, A. George et al. Internationalization and performance of retail firms: a Bayesian dynamic model. Journal of Retailing, v. 88, n. 2, p. 191-205, 2012.
BRITO, Eliane Pereira Zamith; BRITO, Luiz Artur Ledur; MORGANTI, Fábio. Innovation and corporate performance: profit or growth?. RAE eletrônica, v. 8, n. 1, p. 0-0, 2009.
CHAKRAVARTY, Anindita; KUMAR, Alok; GREWAL, Rajdeep. Customer orientation structure for internet-based business-to-business platform firms. Journal of Marketing, v. 78, n. 5, p. 1-23, 2014.
COMBS, James G.; RUSSELL CROOK, T.; SHOOK, Christopher L. The dimensionality of organizational performance and its implications for strategic management research. In: Research methodology in strategy and management. Emerald Group Publishing Limited, 2005. p. 259-286.
DAY, George; FAHEY, Liam. Valuing market strategies. Journal of Marketing, v. 52, n. 3, p. 45-57, 1988.
DESS, Gregory G.; ROBINSON JR, Richard B. Measuring organizational performance in the absence of objective measures: the case of the privately‐held firm and conglomerate business unit. Strategic Management Journal, v. 5, n. 3, p. 265-273, 1984.
DOYLE, Peter. Valuing marketing's contribution. European Management Journal, v. 18, n. 3, p. 233-245, 2000.
FAMA, Eugene F.; FRENCH, Kenneth R. Industry costs of equity. Journal of Financial Economics, v. 43, n. 2, p. 153-193, 1997.
GIANNETTI, Mariassunta; LIAO, Guanmin; YU, Xiaoyun. The brain gain of corporate boards: Evidence from China. The Journal of Finance, v. 70, n. 4, p. 1629-1682, 2015.
GITMAN, Lawrence J.; JUCHAU, Roger; FLANAGAN, Jack. Principles of managerial finance. Pearson Higher Education AU, 2015.
GLICK, William H.; WASHBURN, Nathan T.; MILLER, C. Chet. The myth of firm performance. In: Annual Meeting of the Academy of Management. 2005.
GONG, Guojin; LOUIS, Henock; SUN, Amy X. Earnings management and firm performance following open‐market repurchases. The Journal of Finance, v. 63, n. 2, p. 947-986, 2008.
GRUCA, Thomas S.; REGO, Lopo L. Customer satisfaction, cash flow, and shareholder value. Journal of Marketing, v. 69, n. 3, p. 115-130, 2005.
HAMANN, P. Maik et al. Exploring the dimensions of organizational performance: A construct validity study. Organizational Research Methods, v. 16, n. 1, p. 67-87, 2013.
HOMBURG, Christian et al. The loss of the marketing department’s influence: is it really happening? And why worry?. Journal of the Academy of Marketing Science, v. 43, n. 1, p. 1-13, 2015.
HYMAN, Michael R.; MATHUR, Ike. Retrospective and prospective views on the marketing/finance interface. Journal of the Academy of Marketing Science, v. 33, n. 4, p. 390-400, 2005.
JEONG, Jaeseok. Exploring the impact of advertising on brand equity and shareholder value. 2004. Doctoral dissertation.
KABADAYI, Sertan; EYUBOGLU, Nermin; THOMAS, Gloria P. The performance implications of designing multiple channels to fit with strategy and environment. Journal of Marketing, v. 71, n. 4, p. 195-211, 2007.
KATSIKEAS, Constantine S. et al. Assessing performance outcomes in marketing. Journal of Marketing, v. 80, n. 2, p. 1-20, 2016.
KNOWLES, Jonathan; AMBLER, Tim. Orientation and marketing metrics. Maclaran, P. et alli. Ed.: The Sage Handbook of Marketing Theory. Los Angeles, Sage, p. 379-396, 2009.
LEHMANN, Donald R. Metrics for making marketing matter. Journal of Marketing, v. 68, n. 4, p. 73-75, 2004.
MADANOGLU, Melih; LEE, Kyuho; CASTROGIOVANNI, Gary J. Franchising and firm financial performance among US restaurants. Journal of Retailing, v. 87, n. 3, p. 406-417, 2011.
MADDEN, Thomas J.; FEHLE, Frank; FOURNIER, Susan. Brands matter: An empirical demonstration of the creation of shareholder value through branding. Journal of the Academy of Marketing Science, v. 34, n. 2, p. 224-235, 2006.
Marketing Science Institute (MSI). Research Priorities 2006-2008: a guide to MSI Research Programs and Procedures. Retrieved April 7, 2008, from http://www.msi.org.
Marketing Science Institute (MSI). Research Priorities 2008 -2010. Retrieved January 15, 2011, from http://www.msi.org/pdf/MSI_RP08-10.pdf.
Marketing Science Institute (MSI). Research Priorities 2010 -2012. Retrieved January 15, 2011, from http://www.msi.org/pdf/MSI_RP10-12.pdf.
Marketing Science Institute (MSI). Research Priorities 2012 -2014. Retrieved August 19, 2012, from http://www.msi.org/research/index.cfm?id=338.
Marketing Science Institute (MSI). Research Priorities 2014 -2016. Retrieved February 06, 2017, from http://www.msi.org/uploads/files/MSI_RP14-16.pdf.
MICHELI, Pietro; MANZONI, Jean-Francois. Strategic performance measurement: Benefits, limitations and paradoxes. Long Range Planning, v. 43, n. 4, p. 465-476, 2010.
MIZIK, Natalie; JACOBSON, Robert. The financial value impact of perceptual brand attributes. Journal of Marketing Research, v. 45, n. 1, p. 15-32, 2008.
MOORMAN, Christine; DAY, George S. Organizing for marketing excellence. Journal of Marketing, v. 80, n. 6, p. 6-35, 2016.
MORGAN, Neil A. Marketing and business performance. Journal of the Academy of Marketing Science, v. 40, n. 1, p. 102-119, 2012.
MORGAN, Neil A.; CLARK, Bruce H.; GOONER, Rich. Marketing productivity, marketing audits, and systems for marketing performance assessment: integrating multiple perspectives. Journal of Business Research, v. 55, n. 5, p. 363-375, 2002.
MORGAN, Neil A.; FENG, Hui; WHITLER, Kimberly A. Marketing capabilities in international marketing. Journal of International Marketing, v. 26, n. 1, p. 61-95, 2018.
PACE, Eduardo Sérgio Ulrich; BASSO, Leonardo Fernando Cruz; SILVA, Marcos Alessandro da. Indicadores de desempenho como direcionadores de valor. Revista de Administração Contemporânea, v. 7, n. 1, p. 37-65, 2003.
REIBSTEIN, David J.; DAY, George; WIND, Jerry. Guest editorial: is marketing academia losing its way?. Journal of Marketing, v. 73, n. 4, p. 1-3, 2009.
RICHARD, Pierre J. et al. Measuring organizational performance: Towards methodological best practice. Journal of Management, v. 35, n. 3, p. 718-804, 2009.
ROSS, S. A.; WESTERFIELD, R. W.; JAFFE, J. F. Corporate Finance, Homewood, IL. McGraw-Hill/Irwin. Previous editions, v. 1993, n. 1996, p. 1999, 1998.
RUST, Roland T. et al. Measuring marketing productivity: Current knowledge and future directions. Journal of Marketing, v. 68, n. 4, p. 76-89, 2004.
RUYTER, Ko; WETZELS, Martin. The marketing–finance interface: A relational exchange perspective. Journal of Business Research, v. 50, n. 2, p. 209-215, 2000.
SAINAGHI, Ruggero; PHILLIPS, Paul; ZAVARRONE, Emma. Performance measurement in tourism firms: A content analytical meta-approach. Tourism Management, v. 59, p. 36-56, 2017.
SHARMA, Amalesh; SABOO, Alok R.; KUMAR, V. Investigating the Influence of Characteristics of the New Product Introduction Process on Firm Value: The Case of the Pharmaceutical Industry. Journal of Marketing, v. 82, n. 5, p. 66-85, 2018.
SHETH, Jagdish N.; SISODIA, Rajendra S. Feeling the heat-part 1. Marketing Management, v. 4, n. 2, p. 8, 1995.
SHETH, Jagdish N.; SISODIA, Rajendra S. Marketing productivity: issues and analysis. Journal of Business Research, v. 55, n. 5, p. 349-362, 2002.
SMART, Scott B.; MEGGINSON, William L.; GITMAN, Lawrence J. Corporate finance. Thomson/South-Western, 2004.
SRIVASTAVA, Rajendra K.; SHERVANI, Tasadduq A.; FAHEY, Liam. Market-based assets and shareholder value: A framework for analysis. Journal of Marketing, v. 62, n. 1, p. 2-18, 1998.
VENKATRAMAN, Natarjan; RAMANUJAM, Vasudevan. Measurement of business performance in strategy research: A comparison of approaches. Academy of management review, v. 11, n. 4, p. 801-814, 1986.
WALL, Toby D. et al. On the validity of subjective measures of company performance. Personnel psychology, v. 57, n. 1, p. 95-118, 2004.
Web of Science. Journal Citation Reports. Retrieved May 15, 2009, from http://webofknowledge.com.
Web of Science. Journal Citation Reports. Retrieved Jan 18, 2018, from http://webofknowledge.com.
WIESEL, Thorsten; SKIERA, Bernd; VILLANUEVA, Julian. Customer equity: an integral part of financial reporting. Journal of Marketing, v. 72, n. 2, p. 1-14, 2008.
ZINKHAN, George M.; VERBRUGGE, James A. The marketing/finance interface: two divergent and complementary views of the firm. Journal of Business Research, v. 50, n. 2, p. 143-148, 2000.
Publicado
2020-09-01
Cómo citar
Silveira, R. H., Oliveira, M. O. R. de, Frio, R. S., Trombetta, M. S., & Luce, F. B. (2020). FIRM PERFORMANCE: HOW HAS IT BEEN MEASURED IN MARKETING AND FINANCE RESEARCH?. Caderno De Administração, 28(1), 16-45. https://doi.org/10.4025/cadadm.v28i1.51061
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Os autores podem manter os direitos autorais pelo seu trabalho, mas repassam direitos de publicação à revista Caderno de Administração. A revista poderá usar o trabalho para fins não-comerciais, incluindo direito de enviar o trabalho em bases de dados de Acesso Livre.
