Firm Valuation in the Marketing-Finance Interface

Abstract: The fear that marketing as a discipline is in decline has led to the rise of the marketing-finance interface which relates various aspects of marketing to firm performance metrics. In respondence, this dissertation offers three studies that provide valuable insights into the relationship between marketing actions, market-based assets, and firm performance. Overall, these studies demonstrate that marketing is indeed value relevant but that the relationship between marketing and firm performance is still not fully understood. First, a conceptual overview together with a systematic literature review demonstrates that marketing indeed affects bottom line profits, firm value, and firm risk. Second, in assessing the impact of marketing investments in value creation, value appropriation, and the marketing organization itself, this dissertation stresses how marketing can benefit firm value through either benefiting current or future firm needs. Finally, a third study develops a special-purpose dictionary to analyze forward-looking management discussions. In doing so, it pinpoints how firms oscillate between creating and appropriating firm value.

Bio: Karlo Oehring is a PhD student of the Chair for Value-Based Marketing since 2018. Before he studied Business Administration (Finance) at the University Cologne.

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