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Category: book value

Adding Customers To Ratios

Posted on March 4, 2022June 19, 2022 by neilbendle

Marc Marshing has published a short book on using customer data in financial analysis. (I am assuming it was a dissertation or similar as it is closer to a paper than a traditional book). He talks about adding customers to ratios, specifically adding a measure of customer value to the price to book ratio. This…

Marketing Implications Of Financial Accounting

Posted on February 25, 2022February 25, 2022 by neilbendle

A book chapter I wrote with Jonathan Knowles and Moeen Butt has recently come out in the Review of Marketing Research (vol 18). In our chapter, we sought to give marketers a better understanding of accounting, specifically financial accounting. What then are the marketing implications of financial accounting? Keeping Score Marketers are trying to work…

What Can The Marketing-Finance Interface Tell Us About Witchcraft Trials?

Posted on October 2, 2020November 25, 2022 by neilbendle

Edeling, Srinivasan, and Hanssens have a useful new review paper on the Marketing-Finance Interface. The Value Of Review Papers Review papers, such as this, play a vital role in helping frame the field. They give Ph.D. students a way to get up to speed on prior contributions. Review papers also give more seasoned academics a…

Catch 22 And Accounting For Employees

Posted on November 15, 2019August 14, 2021 by neilbendle

A theme of mine is the challenge that marketers have with financial accounting. Essentially most marketing spending is accounted for as an expense. This is even if it has the explicit intention to be an investment. This makes financial reports pretty poor for understanding the marketing of a firm. What about Human Resources (HR). We…

The Right Metric Depends Upon Its Planned Use

Posted on June 1, 2018July 18, 2022 by neilbendle

Sometimes I worry that marketing academics have a bit of an inferiority complex. We seem to have an aversion to anything developed in marketing. Instead, we look back to psychology (if we are consumer behavior scholars). Or we look to economics (for more quantitative scholars). This means that we often see citations to other disciplines…

Why Are Intangible Investments Different To Tangible Investments?

Posted on April 13, 2018November 25, 2021 by neilbendle

Haskel and Westlake’s main point in Capitalism without Capital is that the world is changing and that the predominant form of investment nowadays (investments in intangibles) is different from investment in tangible assets. Why are intangible investments different to tangible investments? The Four Ss of Intangibles The authors, in making the case for intangible investments…

Why Financial Statements Fail “Digital” Companies

Posted on April 6, 2018December 7, 2021 by neilbendle

The way marketing features accounting statements is pretty awful. I have noted this often. Many of the issues raised are, however, applicable outside marketing. They occur with a wide range of intangible assets. Vijay Govindarajan and his colleagues, therefore, look at the providers of accounting for “digital” companies. They ask: Why Financial Statements Fail “Digital”…

Using The Language Of Business And Seeing Its Problems

Posted on March 9, 2018December 8, 2021 by neilbendle

Accounting, and finance more generally, is the language of business. This means marketers can’t get away from it. I recommend both using the language of business and seeing its problems. Engaging with Finance Language I think it is extremely valuable for people more broadly to understand the language of finance. Finance and accounting has challenges….

More On Accounting’s Failure To Deal With Intangibles

Posted on February 16, 2018November 14, 2021 by neilbendle

Accounting’s failure to deal with intangibles is a major problem in business. Marketers, and others, need to engage with financial accountants to find a better way. Problems in accounting statements Feng Gu and Baruch Lev give more details on the problems with financial accounting in their recent piece for the Financial Analysts Journal. They argue…

Measuring A Technological Revolution

Posted on February 2, 2018December 9, 2021 by neilbendle

Some have begun to make the argument that there is a technological revolution. A move towards intangible assets. How does one go about measuring a technological revolution? A Problem With Accounting Corrado and Hulten highlight a major problem in the way accounts are created. This applies to both corporate and national accounts. A basic idea…

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