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Browsing by Author "Donthu, Naveen"

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    The financial contribution of customer-oriented marketing capability
    (2014) Angulo-Ruiz, Fernando; Donthu, Naveen; Prior, Diego; Rialp, Josep
    This article assesses the financial contribution of marketing capability. In contrast with previous research, which conceptualizes marketing capability as the deployment of marketing resources to achieve sales, this study conceives marketing capability as the deployment of marketing resources to achieve the ultimate objectives of customer satisfaction and brand equity (i.e., customer-oriented marketing capability [COMC]). Thus, this research disentangles the dynamic relationships among marketing resources, sales, customer satisfaction, and brand equity through the use of network Data Envelopment Analysis to capture COMC. According to what the value relevance perspective proposes, COMC positively influences the growth of Tobin's q and improves the growth of analysts' recommendations. These findings remain robust and consistent with the use of additional measures and methods common to the marketing and financial literatures. Our study provides tools and a framework for analysis for managers to maximize their ability to use marketing strategy to drive performance.
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    Funding marketing resources and capabilities during a recession: An empirical examination of top corporate advertisers
    (2022) Angulo-Ruiz, Fernando; Donthu, Naveen; Prior, Diego; Rialp-Criado, Josep
    We ask whether the funding behaviour of companies is different during a recession. Specifically, we study whether firms fund marketing resources and capabilities with internal or external financing during a recession, and under which conditions of strategic financial flexibility debt might be used to fund marketing resources and capabilities in recessions.
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    How does marketing capability impact abnormal stock returns? The mediating role of growth
    (2018) Angulo-Ruiz, Fernando; Donthu, Naveen; Prior, Diego; Rialp, Josep
    Building on the frameworks of the resource-based view and value relevance, this study contributes to how the firms' marketing capabilities affect firm performance. More specifically, this research examines growth as a potential mechanism to explain how marketing capabilities impact stock returns. This study estimates empirical models using a merged data set comprising firms' marketing and financial information. Results indicate that asset growth mediates the relationship between marketing capability and abnormal stock returns. Marketing capabilities in general and marketing capabilities of retail firms specifically show direct significant effects on abnormal stock returns. This study contributes to resource-based view theory in marketing by demonstrating that it is not only the intangible characteristic of marketing capabilities, but also the growth potential that marketing capabilities exhibit that help explain higher stock returns. This study points to the need to account for mechanisms and mediating variables when building theoretical frameworks of the impact of marketing capabilities on firm performance.