Social media has emerged as a key source of understanding customer satisfaction, which is used by investors in their investment decision. Nonetheless, whether and how social media metrics on customer attitude toward the company has not been thoroughly examined. This study develops a new index of...

Do investments in customer satisfaction lead to excess returns? If so, are these returns associated with higher stock market risk? The empirical evidence presented in this article suggests that the answer to the first question is yes, but equally remarkable, the answer to the second question is...