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The marketing profession is being challenged to assess and communicate the value created by its actions on shareholder value. These demands create a need to translate marketing resource allocations and their performance consequences into financial and firm value effects. The objective of this paper is to integrate the existing knowledge on the impact of marketing on firm value. The paper reviews emerging findings on biases in investor response to marketing actions. The paper concludes by formulating an agenda for future research challenges in this emerging area.
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