The Economic Relevance of Chief Marketing Officers in Firms' Top Management Teams

PDF Version Also Available for Download.

Description

This article demonstrates the use of performance attribution analysis to construct a long-short portfolio that buys or sells stocks of firms with or without a Chief Marketing Officer in the Top Management Team.

Physical Description

14 p.

Creation Information

Abernathy, John L.; Kubick, Tom & Masli, Adi December 2013.

Context

This article is part of the collection entitled: UNT Scholarly Works and was provided by UNT College of Business to Digital Library, a digital repository hosted by the UNT Libraries. More information about this article can be viewed below.

Who

People and organizations associated with either the creation of this article or its content.

Authors

Publisher

Provided By

UNT College of Business

One of the largest business schools in the nation, the UNT College of Business strives to prepare tomorrow's business leaders in an intellectually stimulating and collegial community through high-quality teaching, research, and service. The college offers degree programs at the bachelor's, master's, and doctoral levels, along with certificate programs in a variety of disciplines.

Contact Us

What

Descriptive information to help identify this article. Follow the links below to find similar items on the Digital Library.

Degree Information

Description

This article demonstrates the use of performance attribution analysis to construct a long-short portfolio that buys or sells stocks of firms with or without a Chief Marketing Officer in the Top Management Team.

Physical Description

14 p.

Notes

Abstract: Management theory suggests that the presence of the Chief Marketing Officer in the Top Management Team reflects a corporate emphasis on marketing and customer relations. Finance theory suggests that this emphasis should translate into additional shareholder wealth. However, prior research has failed to document such a relationship. Using performance attribution analysis, the authors construct a long-short portfolio that buys (sells) stocks of firms with (without) a Chief Marketing Officer in the Top Management Team and find this investment strategy would have earned risk-adjusted excess returns of approximately 3%. Additional analyses suggest the value of having a Chief Marketing Officer in the Top Management Team manifests primarily among firms with high operating margin, low asset turnover, high profitability, high R&D intensity and high advertising expenses. The authors conclude that having a Chief Marketing Officer in the Top Management Team has a positive impact on shareholder wealth.

Source

  • Journal of Business and Economics Research, 2013. Littleton, CO: The Clute Institute

Language

Item Type

Publication Information

  • Publication Title: Journal of Business and Economics Research
  • Volume: 11
  • Issue: 12
  • Pages: 555-568
  • Peer Reviewed: Yes

Collections

This article is part of the following collection of related materials.

UNT Scholarly Works

Materials from the UNT community's research, creative, and scholarly activities and UNT's Open Access Repository. Access to some items in this collection may be restricted.

What responsibilities do I have when using this article?

When

Dates and time periods associated with this article.

Creation Date

  • December 2013

Added to The UNT Digital Library

  • Oct. 14, 2017, 9:21 p.m.

Usage Statistics

When was this article last used?

Yesterday: 0
Past 30 days: 2
Total Uses: 9

Interact With This Article

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

Citations, Rights, Re-Use

Abernathy, John L.; Kubick, Tom & Masli, Adi. The Economic Relevance of Chief Marketing Officers in Firms' Top Management Teams, article, December 2013; Littleton, Colorado. (digital.library.unt.edu/ark:/67531/metadc1020952/: accessed April 20, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT College of Business.