Undertakes an approach based on analysis of financial data to understand the role of customer-based brand equity (CBBE) measures in creating firm value via three drivers: (1) investors’ expectations about the rate of return on new invested capital, (2) the future growth in earnings, and (3) the length of the period during which a firm can earn excess return. Econometrically estimate the CBBE effects on these value drivers at the firm level in a broad sample of 613 firms covering a period of nine years from 2005 to 2013.