Linking Customer Satisfaction to Shareholders Value: Evidence from Indonesia Listed Company

Abstract

The objective of this research is to know and understand the impact of customer satisfaction toward shareholders value through the mediation role of brand equity that employed Indonesia Best Brand Awards (IBBA) and Indonesian customer satisfaction index (ICSI). The research objects are all companies listed in Indonesia Stock Exchange (IDX). All hypotheses are accepted, which therefore suggests that customer satisfaction (ICSI) and also brand equity (IBBA) is indeed the important factors in ensuring the shareholders value that measured by Tobin’s q. To researcher knowledge, this is one of the first studies in Indonesia that connect ICSI, IBBA to the shareholders value.