Do investments in customer satisfaction lead to excess returns? If so, are these returns associated with higher stock market risk? The empirical evidence presented in this article suggests that the answer to the first question is yes, but equally remarkable, the answer to the second question is...

Chief executive officer (CEO) narcissism is an ingrained personality trait referring to the degree to which an individual CEO has an inflated level of self-admiration and seeks to gain attention and social praise by pursuing vanity-driven strategic objectives. We find evidence that narcissistic...

Prior research shows that investors with smaller belief updates trade less actively, which positively affects their return performance. We examine the effect of different default frames of presenting past return information on investors' belief updating. In particular, we analyze whether...

Prior research has largely focused on the positive side of customer experience, such as satisfaction. In contrast, this study investigates the negative side of customer experience and tests the harmful impact of consumer negative voice on firms' stock returns. Based on a longitudinal real-world...

Customer return rate evolution—whether return rates decrease or increase over the course of the customer-firm relationship—is of great economic importance to retailers. Analyzing the complete purchase and return behavior of about 8,000 customers of an online fashion retailer over seven...

This paper examines sporting event's spillover effect to investor's behavior through event study analysis using the GARCH (p,q) model, focusing on the stock price effects of a sport sponsorship program during and after a sporting event. Studying stock price behavior during a sporting event is...

This paper brings structural modeling to the literature on financial research in marketing. I estimate a dynamic investment-based model to understand the impact of advertising expenditures on stock returns and firm value. In addition, by interpreting advertising expenditures as an investment...

Both managers and investors are increasingly concerned with the impact of advertising spending on shareholder returns. This study investigates the analyst-based processes by which advertising may create firm value. Using a large longitudinal dataset with 1,052 firms over 20 years, we find that...

News reports carrying positive or negative sentiment about a firm influence its stock market performance. This study examines how two firm-controllable marketing factors, advertising and marketing capability, moderate the relationship between news stories and firm stock returns. Analysis of a...