Myopic marketing management and stock performance in the short term: the moderating role of asset turnover

被引:0
|
作者
Garcia, Evelini Lauri Morri [1 ]
Vieira, Valter Afonso [2 ]
Nath, Pravin [3 ]
机构
[1] Univ Estadual Maringa, Sch Accounting, R Afonso Pena,130-Zona 1,Bloco C, BR-87200027 Cianorte, PR, Brazil
[2] Univ Estadual Maringa, Sch Management, Ave Colombo 5-790,Bloco,C23, BR-87053070 Maringa, PR, Brazil
[3] Clemson Univ, Wilbur O & Ann Powers Coll Business, 324D Wilbur O & Ann Powers Hall, Clemson, SC 29634 USA
关键词
Myopic marketing; Efficiency; Revenue; Abnormal returns; Asset turnover; REVENUE; FIRMS; PERSISTENCE; IMPACT; COST;
D O I
10.1007/s11002-024-09744-4
中图分类号
F [经济];
学科分类号
02 ;
摘要
The literature on marketing myopia suggests the need for exploring conditions under which myopic marketing management differs in its impact on stock performance. To that end, the authors investigate the role of asset turnover (AT), which is the ratio of the firm's sales or revenues to its assets, indicating the effectiveness with which a firm is using its assets to generate incomes. AT suggests a persistent signal of the firm's potential for future cash flows. The authors test their model on data from 210 publicly traded Brazilian companies from 2001 to 2017. Results show that when there is high AT, the stock performance in the short term (i) is higher in non-myopic firms with positive earnings surprise compared to myopic firms and (ii) does not significantly differ between non-myopic firms with negative earnings surprise and myopic firms. The study demonstrates that AT contributes to the identification, signalization, and evaluation of marketing myopia.
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页数:15
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