Business Commons^™

고객참여 제품개발이 기업 가치에 미치는 영향, Jong Kuk Lee

Asia Marketing Journal

Customer participation is a strategic tool to facilitate the process of developing new products. This study distinguishes between two types of customer participation-customer codevelopment and contract development, and examines the benefits of customer codevelopment relative to contract development for firm value through an event study. The analysis of customer participation announcements in the biotechnology and pharmaceutical industries shows that the benefits of customer codevelopment relative to contract development on firm value are contingent upon firm- and relationship- level factors. Specifically, this study finds that the announcement of customer codveloplment contributes better to abnormal stock returns of a firm when the …