June 17-18, 2019

Dear Colleague,

On behalf of the organizing committee, it is our pleasure to host you at the sixth edition of Marketing Strategy meets Wall Street (MSMWS VI).

In the event that you have questions, please contact insead.marketing-area@insead.edu

Best,

Abhishek Bernd

June 17, 2019 (Monday Morning) Time Activity/Event Location

7:45 am - 8:20 am Pick up Name Tags, Welcome Kit, & Light Breakfast Amphi A

8:20 am – 8:30 am Welcome Remarks Amphi A

8:30 am - 9:15 am Keynote: Gerard Hoberg, University of Southern California Title - Computational Linguistics & Finance

Amphi A

9:15 am - 10:00 am Keynote: Hubert Gatignon, The Claude Janssen Chaired Professor of Business Administration Emeritus and Emeritus Professor of Marketing, INSEAD Title - Making Innovation Last: Sustainable Marketing Strategies for Long Term Growth

Amphi A

10:00 am - 10:30 am Networking Break, Refreshments, and Transition Amphi A

10:30 am - Noon Concurrent Sessions Amphi A and T

1.1 BUZZ, EMOTIONS, AND VIRALITY Quantifying Investor Returns from Brand Buzz: The Interplay of Brand Buzz Aggregation and Dispersion Metrics Stefan F. Fischer (Univ. of Goettingen), Welf H. Weiger (Univ. of Goettingen), Maik Hammerschmidt (Univ. of Goettingen)

The Economic Value of Emotion as Intangible Marketing Investment in Crowdfunding Wanxin Britney Wang (Imperial College), Yu-Ting Lin (Imperial College), Her-Sen Doong (National Chiayi Univ.) Employing Deep Learning To Enhance Marketing Effectiveness: A Holistic Appraisal Utilizing Unstructured And Structured Sales Pitch Data Michel Ballings (Univ. of Tennessee), Neeraj Bharadwaj (Univ. of Tennessee), Prasad Naik (UC Davis), Miller Moore (Univ. of Tennessee)

The Impact of Virality on Stock Market Performance: The Case of YouTube Video Ads Seshadri Tirunillai (Univ. of Houston), Gerard J. Tellis (Univ. of Southern California)

Amphi A

1.2 BRANDING AND MARKETING-FINANCE Intangible Value: How much of it is Brand? Jonathan Knowles (Type 2 consulting)

A Study of the Impact of Brand Equity on Idiosyncratic Risk and the Mediating Role of Analysts Melissa Boeuf (Univ. of Montpellier), Philippe Aurier (Univ. of Montpellier)

Do Brokerage House Brands Matter for Investors? Andrew Zylstra (ESCP Europe), Sandrine Macé (ESCP Europe)

Brand Equity and Services vs. Goods: Who has a Higher Level of it and to Whom is it more Important? Ben Lee (Indiana Univ.), Lopo L. Rego (Indiana Univ.), Neil A. Morgan (Indiana Univ.)

Amphi T

June 17, 2019 (Monday Afternoon) Time Activity/Event Location

Noon - 2:00 pm Lunch Break Le Cercle

2:00 pm - 3:30 pm Concurrent Sessions Amphi A and T

2.1 FIRM VALUE I – MEASUREMENT AND APPLICATIONS Should Marketing Assets be on the Books? Empirical Evidence from a Unique Context Peter Guenther (RMIT Univ.), Miriam Guenther (Univ. of Melbourne), Bryan A. Lukas (Univ. of Manchester), Christian Homburg (Univ. of Mannheim)

A New Method to Decompose Changes in Customer Equity Markus Lilienthal (Goethe Univ.), Bernd Skiera (Goethe Univ.), Vincent Skiera (Univ. of Berkeley)

Fusing Public Disclosures and Credit Card Panel Data to Value Subscription Firms Daniel McCarthy (Emory Univ.), Elliot Oblander (Columbia Univ.)

Decomposing Firm Value Frederico Belo (INSEAD, Univ. of Minnesota, NBER), Vito D. Gala (Wharton School), Juliana Salomao (Univ. of Minnesota), Maria Ana Vitorino (INSEAD, Univ. of Minnesota)

Amphi A

2.2 FIRM PERFORMANCE - I What if your Owners also Own Other Firms in your Industry? The Relationship between Institutional Common Ownership, Marketing, and Firm Performance John Healey (Tulane Univ.), Ofer Mintz (UT Sydney)

Corporate Financial Performance and Bond Ratings: Implications for Corporate Image and Brand Strength Jyoti Navare (Middlesex Univ.), Morrison Handley-Schachler (Edinburgh Napier Univ.)

Ethics Rankings, Reputation, and Value Creation Ralitza Nikolaeva (Univ. of St Andrews), Marco Visentin (Univ. of Bologna), Stefano Mengoli (Univ. of Bologna)

Customer Referencing and its Impact on Firm Performance: A Firm Value Perspective Eric Boyd (Univ. of Central Florida), F. Javier Sese (Univ. of Zaragoza), Sebastian Tillmanns (ETH Zurich)

Amphi T

3:30 pm - 4:00 pm Networking Break, Refreshments, and Transition Amphi A and T

4:00 pm - 5:30 pm Concurrent Sessions Amphi A and T

3.1 HUMAN CAPITAL AND FIRM PERFORMANCE Managerial Talent, CSR, and Firm Performance Anna Sadovnikova (South Dakota State Univ.), Nacasius Ujah (South Dakota State Univ.)

How Do Start-Ups Grow? Zhuoer Qiu (Goethe Univ.), Simone Wies (Goethe Univ.)

The Role of CEOs’ Functional Background on Firms’ Innovation Output and on Investors’ Reaction to New Product Announcements Nooshin Warren (Univ. of Arizona), Alina Sorescu (Texas A&M), Shuba Srinivasan (Boston Univ.)

How the CMO Role Contributes to CEO Dissatisfaction and CMO Failure Kimbeley A. Whitler (Darden), Neil A. Morgan (Indiana Univ.), Lopo L. Rego (Indiana Univ.)

Amphi A

3.2 EFFECTS OF ADVERSITY Is Impression Management Worth the Effort: Do Marketing Capability and Innovation Capacity Help or Hurt During Product Discontinuation? Ismail Erzurumlu (NEOMA), Nukhet Harmancioglu (Koç Univ.), Sundar Bharadwaj (Univ. of Georgia)

Time to Heal: After Effects of Data Breaches on Market Returns To Innovation Joseph Ryoo (Western Univ.), Abhishek Borah (INSEAD), Shane Wang (Western Univ.)

Buyer-Supplier Interactions in times of Adversity Sudha Mani (Monash Univ.), Vivek Astvansh (Indiana Univ.), Kersi Antia (Western Univ.)

Amphi T

June 17, 2019 (Monday Evening)

6:00 pm – 9:30 pm at INSEAD Restaurant

Celebration of Hubert Gatignon’s contributions

Welcome Buffet Cocktail

June 18, 2019 (Tuesday Morning) Time Activity/Event Location

8:30 – 9:00 am Light Breakfast Amphi A

9:00 am - 10:30 am Concurrent Sessions (Amphi A and Amphi T)

4.1 SEARCH AND CONTENT IN MARKETING-FINANCE Search Engine Visibility and Shareholder Value: Financial Market’s Valuation of a Firm’s Visibility in Organic Search Gabriela Alves Werb (Goethe Univ.)

Background Noise? TV Advertising Affects Real Time investor Behavior Jura Liaukonyte (Cornell Univ.), Alminas Zaldokas (HKUST)

When Investors Count on People more than Dollars : The Financial Content of Textual Information on Marketing Brent Kitchens (Univ. of Virginia), Debanjan Mitra (Univ. of Connecticut)

Amphi A

4.2 FIRM PERFORMANCE - II Linking Price to Profit:Theory, Empirical Evidence and Extensions Vinay Kanetkar (Univ. of Guelph)

Impact of Alliance Dissolution on Rival Firms’ Performance Shekhar Misra (Grenoble Ecole De Management), Kiran Pedada (ISB)

Marketing for Marketing’s sake: Deconstructing Marketing’s Effects on Firm Performance Anusha Reddy Gondi (Indian School of Business), Prakash Satyavageeswaran (IIM Udaipur), Sundar Bharadwaj (Univ. of Georgia)

Multi-Tier Buyer-Supplier Network and Firm Performance: Investigating the Role of Organizational Capabilities Amalesh Sharma (Texas A&M), Alok R. Saboo (Georgia State Univ.), Sourav B. Borah (IIM Ahmedabad), Anirban Adhikary (IIM Udaipur)

Amphi T

10:30 am – 11:00 am Networking Break, Refreshments, and Transition Amphi A and T

11:00 am – 12:30 pm Concurrent Sessions Amphi A and T

5.1 NEW PARADIGMS AND THEORIES IN MARKETING-FINANCE Digital Transformation and Marketing Performance Measurement – How the “Old” Market Share-Performance Relationship does not hold anymore Felix Anton Sklenarz (Kühne Logistics Univ.), Alexander Himme (Kühne Logistics Univ.), Alexander Edeling (Univ. of Cologne)

Towards an Emerging Theory of the Marketing-Finance Interface Stefan Worm (BI Norwegian Business School), Aleksandra Chabanova (BI Norwegian Business School), Francesca Sotgiu (VU Amsterdam), Chandra Srivastava (UT Austin), Rajendra K. Srivastava (Indian School of Business)

Marketing and Firm Value 2.0 Alexander Edeling (Univ. of Cologne), Shuba Srinivasan (Boston Univ.), Dominique Hanssens (UCLA)

Amphi A

5.2 RISK AND UNCERTAINTY Alliance Termination and Firm Idiosyncratic Risk:The Role of Governance Misalignment Mariia Koval (Grenoble Ecole De Management), Kenneth H. Wathne (Univ. of Stavanger), Auke Hunneman (BI Norwegian Business School), Stefan Wuyts (Penn State Univ.)

Economic Policy Uncertainty and Firm Bankruptcy Risk Saurabh Mishra (George Mason Univ.), Sachin Modi (Wayne State Univ.)

The Dual Role of Marketing: How Marketing Expenses, Investments and Capabilities Balanceretained Earnings and Debt Joseph Johnson (Univ. of Miami), Abhi Bhattacharya (Univ. of Groningen)

Brands at Risk: Characteristics of Persistent Brand Equity Declines and their Financial Consequences Luciano Lapa (Indiana Univ.), Neil A. Morgan (Indiana Univ.), Lopo L. Rego (Indiana Univ.)

Amphi T

June 18, 2019 (Tuesday Afternoon) 12:30 pm - 2:00 pm Lunch Break Le Cercle

2:00 pm - 3:30 pm Concurrent Sessions Amphis A and T

6.1 FIRM VALUE II – EFFECTS AND DIFFERENCES Stock Market Response to Voluntary Disclosure of Marketing Metrics And Surprises Ankit Anand (Georgia State Univ.), V. Kumar (Georgia State Univ.)

When does Systematic Marketing Benefit Start-Up Firm Valuations? Ofer Mintz (UT Sydney), Gary Lilien (Pennsylvania State Univ.)

Differences in Marketing across Firms: Implications for Firm Value Leigh McAlister (UT Austin), Raji Srinivasan (UT Austin), Ty Henderson (UT Austin), Jade Dekinder (UT Austin)

Amphi A

6.2 APPLICATIONS OF TEXT MINING AND MACHINE LEARNING Disclosure of Pricing Information on Earnings Calls –An Empirical Investigation Alexander Edeling (Univ. of Cologne), Alexander Himme (Kühne Logistics Univ.), Shuba Srinivasan (Boston Univ.)

“Values” Voters and Their Brands Eugene Pavlov (Univ. of Washington), Natalie Mizik (Univ. of Washington)

Influence of Social Media Sentiment on IPO Performance Malika Chaudhuri (Univ. of Dayton), Hang Nguyen (Michigan State Univ.)

Amphi T

3:30 pm - 4:00 pm Networking Break, Refreshments, and Transition Amphi A and T

4:00 pm - 5:30 pm One Session only Amphi A

7.1 FIRM VALUE - III Empirical Investigation of the Impacts of 'Going-Private' on the Behaviour of a Firm And its Consumers Sayan Gupta (Univ. of Pittsburgh), Sundar Bharadwaj (Univ. of Georgia)

The Impact of Customer Satisfaction on Liquidity Level, Liquidity Risk, and Firm Value Ashwin Malshe (UT San Antonio), Manoj K. Agarwal (Binghampton Univ.), Anatoli Colicev (Bocconi Univ.)

The Role of Learning in Acquiring Portfolios of Brands, Customers, and Technology Cem Bahadir (UNC Greensboro.), Sundar Bharadwaj (Univ. of Georgia)

Amphi A

7.2

No Session here

Amphi T

June 18, 2019 (Tuesday Evening)

6:00 pm

Shuttles departure from INSEAD campus to the restaurant

Plessis Mornay Building

6:30 pm – 10:15 pm

Dinner at Jardin des Lys Restaurant

Best Paper Award Presentation

Moret-sur-Loing

10:30 pm

Shuttles departure back to INSEAD Campus

Moret-sur-Loing