@article{7639af5fa23a4699833cd16d5f62d017,
title = "Influential chief marketing officers and management revenue forecasts",
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 = "Chief Marketing Officers, Informational Role Of Marketing Officers, Management Revenue Forecasts, Revenue Guidance, Voluntary Disclosure",
author = "Koo, {David S.} and Dongyoung Lee",
note = "We thank Christopher D. Ittner (editor) and two anonymous reviewers for helpful comments and suggestions. Also, the paper has benefited from the comments by Linda Bamber, Wald Ben-Amar, John Campbell, Clara Chen, Ted Christensen, Jenna Feagin, Frank Heflin, Tony Kang, Josh Lee, Sarah McVay, Erin Towery, Desmond Tsang, Ben Whipple, and workshop participants at McGill University, McMaster University, The University of Georgia, University of Illinois, University of Ottawa, the 2015 CAAA Annual Conference, the 2015 ASAC Annual Conference, and the 2015 AAA Annual Meeting. The authors appreciate Josh Lee for sharing his conference call data. David Koo acknowledges the research assistant support by the Department of Accountancy at the University of Illinois. Dongyoung Lee acknowledges the financial support from the Social Sciences and Humanities Research Council of Canada (SSHRC) and Desautels Faculty of Management.",
year = "2018",
month = jul,
doi = "10.2308/accr-51946",
language = "English (US)",
volume = "93",
pages = "253--281",
journal = "Accounting Review",
issn = "0001-4826",
publisher = "American Accounting Association",
number = "4",
}