市场营销学系学术讲座

时间：2024年5月7日（周二）10:00-11:30

地点：思源楼 524

主题：Negative News Spillover Effects and Rivals’ Strategic Reactions

主讲人：Guiyang Xiong (熊桂洋), Associate Professor

Whitman School of Management, Syracuse University

主持人：庄雷

摘要：

Conventional wisdom suggests that a company’s negative news is likely to benefit its competitors. In contrast, this research reveals significant heterogeneity in spillover effects across rival firms. By analyzing a large-scale dataset compiled from various sources, the authors (a) document the heterogenous spillover effects on abnormal stock returns across rival firms upon negative news in the industry; (2) examine the three fundamental corporate pillars, namely, R&D capability, marketing capability, and operations capability as antecedents to such heterogeneity, and (c) investigate rival firms’ strategic reactions in response to the negative news. Results indicate that upon the release of negative news about a firm’s product, an industry rival is less likely to suffer from negative spillover effect on its abnormal stock return if it has strong marketing capability. However, R&D capability and operations capability only help alleviate negative spillover effect under certain industry- or firm-specific conditions. Furthermore, the spillover effects in stock returns can in turn motivate rival firms to make changes in their future strategic emphases. The findings provide novel implications for firms, investors, and policy makers.

简介：

Guiyang Xiong (PhD, Emory University) is an Associate Professor of Marketing at Whitman School of Management, Syracuse University. He conducts empirical research at both firm-level and consumer-level in the areas of the marketing-finance interface, advertising, and digital marketing. His research has been published in premier journals including the Journal of Marketing, Journal of Marketing Research, and Marketing Science. He serves as an Associate Editor of Service Science and on the Editorial Board of Journal of Marketing.