Myopic Marketing Management: Evidence of the Phenomenon and Its Long-Term Performance Consequences in the SEO Context

References

• Aaker D. A.Managing Brand Equity (1991) (The Free Press, New York) Google Scholar
• Anderson T. W., Hsiao C. Formulation and estimation of dynamic models using panel data. J. Econometrics (1982) 18(1):47–82Crossref, Google Scholar
• Barber B. M., Lyon J. D. Detecting long-run abnormal stock returns: The empirical power and specification of test statistics. J. Financial Econom. (1997) 43(3):341–372Crossref, Google Scholar
• Bayus B. L., Erickson G., Jacobson R. The financial rewards of new product introductions in the personal computer industry. Management Sci. (2003) 49(2):197–210Link, Google Scholar
• Brav A., Geczy C., Gompers P. Is the abnormal return following equity issuances anomalous? J. Financial Econom. (2000) 56(2):209–249Crossref, Google Scholar
• Bushee B. J. The influence of institutional investors on myopic R&D investment behavior. Accounting Rev. (1998) 73(3):305–333Crossref, Google Scholar
• Chaney P. K., Devinney T. M., Winer R. S. The impact of new product introductions on the market value of firms. J. Bus. (1991) 64(4):573–610Crossref, Google Scholar
• Cheng S. J. R&D expenditures and CEO compensation. Accounting Rev. (2004) 79(2):305–328Crossref, Google Scholar
• Daniel K., Titman S. Market reaction to tangible and intangible information. (2003) . NBER Working Paper 9743Google Scholar
• De Bondt W. F. M., Thaler R. Does the stock market overreact? J. Finance (1985) 40(3):793–805Crossref, Google Scholar
• Dechow P., Sloan R. Executive incentives and the horizon problem: An empirical investigation. J. Accounting Econom. (1991) 14:51–89Crossref, Google Scholar
• Dekimpe M. G., Hanssens D. M. The persistence of marketing effects on sales. Marketing Sci. (1995) 14(1):1–21Link, Google Scholar
• Dekimpe M. G., Hanssens D. M. Sustained spending and persistent response: A new look at long-term marketing profitability. J. Marketing Res. (1999) 36(4):397–412Crossref, Google Scholar
• DuCharme L. L., Malatesta P. H., Sefcik S. E. Earnings management, stock issues, and shareholder lawsuits. J. Financial Econom. (2004) 71(1):27–49Crossref, Google Scholar
• Dutta S., Narasimhan O., Rajiv S. Success in high-technology markets: Is marketing capability critical? Marketing Sci. (1999) 18(4):547–568Link, Google Scholar
• Eberhart A. C., Maxwell W. F., Siddique A. R. An examination of long-term abnormal stock returns and operating performance following R&D increases. J. Finance (2004) 59(2):623–650Crossref, Google Scholar
• Eckbo B. E., Masulis R. W., Norli O. Seasoned public offerings: Resolution of the “new issues puzzle”. J. Financial Econom. (2000) 56(2):251–291Crossref, Google Scholar
• Fama E. Market efficiency, long-term returns, and behavioral finance. J. Financial Econom. (1998) 49(3):283–306Crossref, Google Scholar
• Fama E. F., French K. R. Common risk factors in the returns on stocks and bonds. J. Financial Econom. (1993) 33(1):3–56Crossref, Google Scholar
• Fama E. F., French K. R. Multifactor explanations of asset pricing anomalies. J. Finance (1996) 51(March):55–84Crossref, Google Scholar
• Graham J. R., Harvey C. R., Rajgopal S. The economic implications of corporate financial reporting. J. Accounting Econom. (2005) 40:3–73Crossref, Google Scholar
• Hauser J. R., Simester D. I., Wernerfelt B. Customer satisfaction incentives. Marketing Sci. (1994) 13(Autumn):327–350Link, Google Scholar
• Hayes R. H., Abernathy W. J. Managing our way to economic decline. Harvard Bus. Rev. (1980) 58(July–August):67–77Google Scholar
• Healy P. M., Wahlen J. M. A review of the earnings management literature and its implications for standard setting. Accounting Horizons (1999) 13(December):365–383Crossref, Google Scholar
• Kim M., McAlister L., Srinivasan R. Marketing and systematic risk of the firm. (2005) . Paper presented at 2005 Marketing Science Conferences, Emory University, JuneGoogle Scholar
• Kothari S. P. Capital markets research in accounting. J. Accounting Econom. (2001) 31(1–3):105–231Crossref, Google Scholar
• Kothari S. P., Sabino J. S., Zach T. Implications of survival and data trimming for tests of market efficiency. J. Accounting Econom. (2005) 39(1):129–161Crossref, Google Scholar
• Laverty K. J. Economic “short-termism”: The debate, the unresolved issues, and the implications for management practice and research. Acad. Management Rev. (1996) 21(3):825–860Crossref, Google Scholar
• Lehmann D. R. Metrics for making marketing matter. J. Marketing (2004) 68(4):73–75Crossref, Google Scholar
• Lev B. Information disclosure strategy. California Management Rev. (1992) Summer):9–32Crossref, Google Scholar
• Levitt T. Marketing myopia. Harvard Bus. Rev. (1960) July–August):45–56Google Scholar
• Lodish L. M., Abraham M. M., Livelsberger J., Lubetkin B., et al. A summary of fifty-five in-market experimental estimates of the long-term effect of TV advertising. Marketing Sci. (1995) 14(3):133–140Link, Google Scholar
• Loughran T., Ritter J. R. The operating performance of firms conducting seasoned equity offerings. J. Finance (1995) 52(December):1823–1850Google Scholar
• Mitra D., Golder P. N. How does objective quality affect perceived quality? Short-term effects, long-term effects, and asymmetries. Marketing Sci. (2006) 25(3):230–247Link, Google Scholar
• Mizik N., Jacobson R. Trading off between value creation and value appropriation: The financial implications of shifts in strategic emphasis. J. Marketing (2003) 67(January):63–76Crossref, Google Scholar
• Mizik N., Jacobson R. Earnings inflation through accruals and real activity manipulation: Its prevalence at the time of an SEO and the financial market consequences. (2006) . Working paper, Columbia University Graduate School of Business, New YorkGoogle Scholar
• Nelson M. W., Elliott J. A., Tarley R. L. Where do companies attempt earnings management, and when do auditors prevent it? (2000) . Working paper, Cornell University, Ithaca, NYGoogle Scholar
• Pauwels K., Silva-Risso J., Srinivasan S., Hanssens D. M. New products, sales promotions, and firm value: The case of the automobile industry. J. Marketing (2004) 68(4):142–56Crossref, Google Scholar
• Pontiff J. Costly arbitrage: Evidence from closed-end funds. Quart. J. Econom. (1996) 111:1135–1152Crossref, Google Scholar
• Rangan S. Earnings management and the performance of seasoned equity offerings. J. Financial Econom. (1998) 50(1):101–122Crossref, Google Scholar
• Roychowdhury S. Earnings management through real activities manipulation. J. Accounting Econom. (2006) 42(3):335–370Crossref, Google Scholar
• Rust R. T., Ambler T., Carpenter G. S., Kumar V., Srivastava R. K. Measuring marketing productivity: Current knowledge and future directions. J. Marketing (2004) October):76–89Crossref, Google Scholar
• Shivakumar L. Do firms mislead investors by overstating earnings before seasoned equity offerings? J. Accounting Econom. (2000) 29(3):339–371Crossref, Google Scholar
• Shugan S. M. Brand loyalty programs: Are they shams? Marketing Sci. (2005) 24(2):185–193Link, Google Scholar
• Spiess K. D., Affleck-Graves J. Underperformance in long-run stock returns following seasoned equity offerings. J. Financial Econom. (1995) 38(3):243–267Crossref, Google Scholar
• Stein J. C. Efficient capital markets, inefficient firms: A model of myopic corporate behavior. Quart. J. Econom. (1989) 104(November):655–669Crossref, Google Scholar
• Teoh S., Welch I., Wong T. J. Earnings management and the underperformance of seasoned equity offerings. J. Financial Econom. (1998) 50(1):63–99Crossref, Google Scholar
• Trueman B. The relationship between the level of capital expenditures and firm value. J. Financial Quant. Anal. (1986) 21(June):115–129Crossref, Google Scholar