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Aggressive Marketing Strategy following Equity Offerings and Firm Value: The Role of Relative Strategic Flexibility
16 references·16 citing·30 second hopsampled
Aggressive Marketing Strategy following Equity Offerings and Firm Value: The Role of Relative Strategic Flexibility (2013)Aggressive Marketing Strategy following E…American Economic Review (2019)American Economic ReviewEstimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Financial Constraints Risk (2006)Financial Constraints RiskEarnings Management through Real Activities Manipulation (2003)Earnings Management through R…Market Timing and Capital Structure (2002)Market Timing and Capital Str…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…The New Issues Puzzle (1995)The New Issues PuzzleCommon risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Long‐Run Performance of initial Public Offerings (1991)The Long‐Run Performance of i…Efficient Capital Markets: II (1991)Efficient Capital Markets: IICorporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)Corporate Financing and Inves…Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)EFFICIENT CAPITAL MARKETS: A …Efficient Capital Markets: A Review of Theory and Empirical Work (1970)Efficient Capital Markets: A …The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…The effect of marketing department power on investor responses to announcements of AI-embedded new product innovations (2022)The effect of marketing depar…Marketing experience of CEOs and corporate social performance (2022)Marketing experience of CEOs …The effect of performance feedback on firms’ unplanned marketing investments (2020)The effect of performance fee…Marketing intensity and firm performance: Contrasting the insights based on actual marketing expenditure and its SG&A proxy (2020)Marketing intensity and firm …Enhancing the Financial Returns of R&D Investments through Operations Management (2020)Enhancing the Financial Retur…Does ambidexterity in marketing pay off? The role of absorptive capacity (2020)Does ambidexterity in marketi…The value of branding for B2B service firms—The shareholders' perspective (2019)The value of branding for B2B…Can Advertising Investments Counter the Negative Impact of Shareholder Complaints on Firm Value? (2019)Can Advertising Investments C…Selling, general, and administrative expense (SGA)-based metrics in marketing: conceptual and measurement challenges (2018)Selling, general, and adminis…Where does pride lead? Corporate managerial hubris and strategic emphasis (2017)Where does pride lead? Corpor…Share Repurchases and Myopia: Implications on the Stock and Consumer Markets (2017)Share Repurchases and Myopia:…Can doing good lead to doing poorly? Firm value implications of CSR in the face of CSI (2017)Can doing good lead to doing …Organizational Debut on the Public Stage: Marketing Myopia and Initial Public Offerings (2016)Organizational Debut on the P…Do Disclosures of Customer Metrics Lower Investors’ and Analysts’ Uncertainty but Hurt Firm Performance? (2016)Do Disclosures of Customer Me…Strategic marketing ambidexterity: antecedents and financial consequences (2015)Strategic marketing ambidexte…Going Public: How Stock Market Listing Changes Firm Innovation Behavior (2015)Going Public: How Stock Marke…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Pricing of Options and Corporate Liabilities (1973)Law and Finance (1998)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Users of the world, unite! The challenges and opportunities of Social Media (2009)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Determinants of corporate borrowing (1977)The Determination of Financial Structure: The Incentive-Signalling Approach (1977)The Capital Structure Puzzle (1984)The Determinants of Capital Structure Choice (1988)Event Studies in Economics and Finance (1997)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)A Survey of Corporate Governance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)Multifactor Explanations of Asset Pricing Anomalies (1996)Upper Echelons: The Organization as a Reflection of Its Top Managers (1984)The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage (1998)The Promise of Entrepreneurship as a Field of Research (2000)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*15,723 cited
  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,494 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1970Efficient Capital Markets: A Review of Theory and Empirical Work13,616 cited
  • 2019American Economic Review10,902 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 1984Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have6,535 cited
  • 2003Earnings Management through Real Activities Manipulation5,422 cited
  • 1991Efficient Capital Markets: II5,346 cited
  • 2002Market Timing and Capital Structure3,804 cited
  • 2006Financial Constraints Risk3,702 cited
  • 1995The New Issues Puzzle3,550 cited
  • 1991

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The Long‐Run Performance of initial Public Offerings
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Cited by

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  • 2017Share Repurchases and Myopia: Implications on the Stock and Consumer Markets59 cited
  • 2020Does ambidexterity in marketing pay off? The role of absorptive capacity56 cited
  • 2020Marketing intensity and firm performance: Contrasting the insights based on actual marketing expenditure and its SG&A proxy52 cited
  • 2019The value of branding for B2B service firms—The shareholders' perspective51 cited
  • 2017Where does pride lead? Corporate managerial hubris and strategic emphasis51 cited
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