This paper examines customer momentum, defined as a positive relationship between a firm's returns and past returns of its customers. I confirm previous evidence (Cohen and Frazzini 2008) that customer momentum is both statistically and economically significant. Long-short equally-weighted...

The subject of this study is loyalty programs, The aim of the article is to draw attention to loyalty in the current economy, The purpose of the article is to examine the evolution of loyalty pro- grams offered to consumers and investors, The study will cover the issue of building a loyal base...