ACCOUNTING REVIEW, JULY 2018

强影响力的首席营销官与管理收入预测

作者：Koo, David S. (Univ Illinois, Champaign)

Lee, Dongyoung (McGill Univ)

摘要：本文研究了首席营销官（CMO）在企业自愿披露未来收益中的作用。利用2003至2011年间标准普尔1500指数中的公司样本，本文发现管理高层中强影响力CMO的存在与公司发布管理收入预测的可能性正相关。同时，也发现具有强影响力CMO的公司所提供的收入预测会比其它公司更准确。这些发现可以拓展至长期变化分析，并且在使用倾向得分匹配方法时也是稳健的。总体而言，以上结论证实了CMO在高层管理人员中的影响对公司自愿披露未来收益有重要作用。

关键词：收入监管；自愿披露；管理收入预测；首席营销官；营销人员的信息角色

Influential Chief Marketing Officers and Management Revenue Forecasts

Koo, David S. (Univ Illinois, Champaign) Lee, Dongyoung (McGill Univ)

ABSTRACT

We examine the role of the chief marketing officer (CMO) in corporate voluntary disclosure of future revenues. Using a sample of S&P 1500 firms for the period from 2003 to 2011, we find that the presence of an influential CMO in top management is positively associated with the likelihood of a firm issuing a management revenue forecast. We also find that firms with an influential CMO provide more accurate revenue forecasts than other firms. These findings extend to long-window change analyses and are robust to the use of a propensity score matched-pair approach. Overall, the results are consistent with the notion that CMO influence in top management appears to play an important role in voluntary revenue disclosures.

Keywords: revenue guidance, voluntary disclosure, management revenue forecasts, chief marketing officers, informational role of marketing officers

原文链接：

http://aaajournals.org/doi/10.2308/accr-51946?code="aaan-site

翻译：谭丰林