Working Papers

How Incentives Shape Strategy: The Role of CMO and CEO Equity Compensation in Inducing Marketing Myopia

Martin Artz and Natalie Mizik

Mar 5, 2018

Examines the role personal compensation incentives of CMOs and CEOs play in inducing myopic marketing management. Combines data from multiple sources (ExecuComp, Center for Research in Security Prices [CRSP], Compustat, and Thomson Reuters Insider Filing Data Feed) from 1993-2014. Uses multiple methods designed to identify causal effects (e.g., inverse probability weighted regression adjustment, Heckman selection bias correction, endogenous treatment effects, control function, difference-in-differences), which allows for a causal interpretation of findings.

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