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T his study examines whether user-generated content (UGC) is related to stock market performance, which metric of UGC has the strongest relationship, and what the dynamics of the relationship are. We aggregate UGC from multiple websites over a four-year period across 6 markets and 15 firms. We derive multiple metrics of UGC and use multivariate time-series(More)
C ritics often decry an earnings-focused short-term orientation of management that eschews spending on risky, long-term projects such as innovation to boost a firm's stock price. Such critics assume that stock markets react positively to announcements of immediate earnings but negatively to announcements of investments in innovation that have an uncertain(More)
Based on over 260 estimates, the mean elasticity of sales or market share to advertising is 0.1 percent. Another 450 field experiments suggest that changes in media, product, target segments, advertising scheduling, and advertising content are more likely to yield changes in sales than do changes in advertising weight. Numerous other studies suggest that(More)
T he Bass model has been a standard for analyzing and predicting the market penetration of new products. We demonstrate the insights to be gained and predictive performance of functional data analysis (FDA), a new class of nonparametric techniques that has shown impressive results within the statistics community, on the market penetration of 760 categories(More)
  • Hardie, Leonard Bruce, Peter Lodish, Alistair Fader, Sutcliffe, John H Roberts +19 others
  • 2006
A factor-analytic model for representing the market structure in panel data. The role of sensory-specific satiety in attribute level variety seeking. Implementing a pre-launch diffusion model: measurement and management challenges of the Telstra switching study. A pre-launch diffusion model for evaluation of market defense strategies. A general unfolding(More)
T he authors study the takeoff of 16 new products across 31 countries (430 categories) to analyze how and why takeoff varies across products and countries. They test the effect of 12 hypothesized drivers of takeoff using a parametric hazard model. The authors find that the average time to takeoff varies substantially between developed and developing(More)
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Ads of stocks and mutual funds typically tout their past performance, despite a disclosure that past performance does not guarantee future returns. Are consumers motivated to buy or sell based on past performance of assets? More generally, do consumers (wrongly) use sequential information about past performance of assets to make suboptimal decisions? Use of(More)
T he failure of firms in the face of technological change has been a topic of intense research and debate, spawning the theory (among others) of disruptive technologies. However, the theory suffers from circular definitions, inadequate empirical evidence, and lack of a predictive model. We develop a new schema to address these limitations. The schema(More)
Unrelenting innovation is the most enduring source of growth, profit, and competitive advantage for firms today. Market leaders are in the best position to innovate because of their deep pockets, rich talent, and intimate knowledge of the market. Yet, throughout history major companies have stumbled, declined sharply, or gone bankrupt due to a failure to(More)