Who Really Matters? Revenue Implications of Stakeholder Satisfaction in a Health Insurance Company

• 成果类型: Article
• 署名作者: Chen, Clara Xiaoling
• 署名单位: University of Illinois System; University of Illinois Urbana-Champaign
• 刊物名称: ACCOUNTING REVIEW
• ISSN/ISSBN: 0001-4826
• DOI: 10.2308/accr.2009.84.6.1781
• 发表日期: 2009
• 页码: 1781-1804
• 关键词: measures leading indicators; customer satisfaction; nonfinancial measures; market share; financial performance; profitability; SALIENCE

摘要

This study examines the revenue implications of satisfaction measures in a setting with multiple stakeholders. I obtain a proprietary database from a leading health insurance company that measures satisfaction levels of multiple stakeholders, including: (1) clients that purchase insurance plans for their employees, (2) patients who use the insurance plans, and (3) doctors who provide medical services. Using multi-stakeholder satisfaction data over a 20-quarter period, I find that satisfaction measures are multi-dimensional, and that future revenues are positively associated with certain, but not all, dimensions of client, patient, and doctor satisfaction. Drawing on stakeholder theory, I predict that the revenue implications of stakeholder satisfaction vary with the power of different stakeholder groups. Specifically, I examine the moderating effects of the percentage of voluntary patients, business unit age, and market penetration on the relation between stakeholder satisfaction and future revenues, finding evidence consistent with my prediction.