surprise for achieving customer delight and the problem of increased customer expectation (spiral of expectations) have been … requires surprise and whether a misdirected delight strategy can backfire by creating disloyal customers. Design … the data. Findings Study results show that surprise is not a necessary prerequisite for achieving customer delight, but …

surprise for several months following an earnings announcement. Specifically, we find that standardized unexpected earnings … based on analyst forecasts (SUEAF), our main definition of earnings surprise, indicates that a hedge strategy of going long … standardized unexpected earnings (SUE) capture earnings surprise, each contains information that is not entirely subsumed by the …