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PRODID:-//Indira Gandhi Institute of Development Research - ECPv4.1.2//NONSGML v1.0//EN
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X-WR-CALNAME:Indira Gandhi Institute of Development Research
X-ORIGINAL-URL:http://www.igidr.ac.in
X-WR-CALDESC:Events for Indira Gandhi Institute of Development Research
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DTSTART;TZID=Asia/Kolkata:20160816T143000
DTEND;TZID=Asia/Kolkata:20160816T153000
DTSTAMP:20260411T092051
CREATED:20160816T073742
LAST-MODIFIED:20160816T074222
UID:3841-1471357800-1471361400@www.igidr.ac.in
SUMMARY:Seminar: Marketing capability and stock returns
DESCRIPTION:Prof. Harminder Singh of Deakin University is giving a talk on Tuesday\, 16th August in Seminar Hall 1 at 2:30 p.m. The title of his talk is: "Marketing capability and stock returns". A brief abstract is given below.\n\n\nAbstract: \nWe find that firms’ marketing capability – the ability to deploy marketing resources to achieve desired sales revenue – is predictable and persistent. Marketing capability positively predicts future operating performance and stock returns even after controlling for firm characteristics and risks. A long-short portfolio strategy based on marketing capability earns a return of 0.5% per month. The diminishing return predictability over the long run reflects investors’ delay in incorporating the information about marketing capability in stock prices. Consistent with a mispricing-based explanation\, the marketing capability-return relation is persistent over time and is dominant in stocks with limited investor attention and binding limits-to-arbitrage.  
URL:http://www.igidr.ac.in/seminars/seminar-marketing-capability-stock-returns/
CATEGORIES:latest news
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