고객만족도가 장기적 재무성과에 미치는 영향

This study examines if customer satisfaction, as a non-financial measure, affects financial results in a long term perspective. To prove this, the effect of present customer satisfaction level on financial results and the level of previous customer satisfaction on this year's financial results were analyzed. Moreover to see the differences between industries, data separated by listed and non-listed firms and by industrial goods and customer and service goods were used. For this, a long term customer satisfaction data from 1998 to 2012 announced by Korea Productivity Center and 1,231 firm-year financial data yielded from KIS-VALUE were being used to be tested. As a result, it is proven that customer satisfaction as a non financial measure positively and significantly affects this year and previous year's financial results. Moreover, customer satisfaction affects listed firms more positively and significantly than non-listed and so does customer and service goods than industrial goods. In conclusion, customer satisfaction can be used as relevant accounting information and can be a useful source of firms' evaluation and achievement of their goals. Non-financial measures give information of important value of intangible assets such as customer loyalty, customer satisfaction, knowledge asset which are key drivers of success of companies and moreover provide information about required activities to create future profits to predict the financial results more precisely. Therefore, it is proven that firms should consider non-financial measures along with financial measures to evaluate the strategies and its success.