Chronological overview of key empirical studies on the impact of MPTMT
| Authors (date and journal) | Data source | Firms in the sample | MPTMT independent variable(s) | Outcome variable(s) | Key findings | Captures different structures of MPTMT? | Tests the mediating mechanism(s) between MPTMT and performance? |
|---|---|---|---|---|---|---|---|
| Nath and Mahajan (2008, JM) | Database | 167 firms with sales of at least $250 million in 2002 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Firm performance (sales growth and Tobin's q) |
| No | No |
| Boyd et al. (2010, JMR) | Database | 88 CMO announcements made by publicly traded firms | CMO appointee experience as a CMO CMO appointee experience with the appointing firm | Firm performance (stock price movement after appointment) |
| No | No |
| Nath and Mahajan (2011, JM) | Database | 167 firms with sales of at least $250 million in 2002 | CMO power in TMT (estimated by the levels and size of the TMT) CMO who is also responsible for sales: Whether the word “sales” was present in the CMO's title | Firm performance (sales growth and return on sales) |
| Yes, but only based on marketing job titles | No |
| Feng et al. (2015, JM) | Database | 612 publicly traded firms with an average of $8.4 billion in assets | Marketing power (count of, compensation, rank and responsibilities of marketing-titled executives in the TMT) | Marketing capabilities (i.e. SG&A expenses); firm performance (ROA and TSR) |
| No | Yes, using marketing expenses as a proxy for marketing capability |
| Germann et al. (2015, JM) | Database | 155 publicly traded firms with sales of at least $250 million in 2002 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Tobin's q; systematic risk; idiosyncratic risk; sales growth |
| No | No |
| Nath and Bell (2016, JMC) | Database | 224 Fortune 500 firms | Marketing/PR integration (MPRI) in the TMT: A senior-level executive who is responsible for both marketing and public relations | Reputation; profitability |
| Yes, but only based on marketing job titles | No |
| Brower and Nath (2018, ML) | Database and survey | 117 of the 3,000 largest publicly traded U.S. firms | CMO presence: The presence or absence of an executive with a marketing title in TMT | Market orientation |
| No | No |
| Whitler et al. (2018, JM) | Database | 1,091 firms listed in the S&P 1500 between 2007 and 2012 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Revenue growth; Tobin's q; TSR (total shareholder return); ROA |
| No | No |
| Bommaraju et al. (2019, JM) | Database | 329 firms listed in S&P 900 between 2007 and 2015 | Marketing personnel presence in the TMT: Whether a member with a marketing title is in TMT | Firm performance (Tobin's q) |
| No | No |
| Srinivasan and Ramani (2019, JM) | Database | 781 publicly traded firms in the U.S. between 2000 and 2015 | Marketing power (Count of, compensation, rank and responsibilities of marketing-titled executives in the TMT) Presence of CEO with marketing background | Myopic marketing spending; myopic revenue management |
| No | No |
| Vaid et al. (2020, IMM) | Database | 820 executive appointment announcements (436 of which being marketing and sales) in firms traded on U.S. public exchanges | Announcements of marketing-only, sales-only, and joint marketing and sales appointments | Abnormal return |
| Yes, but only based on marketing job titles | No |
| Winkler et al. (2020, JAMS) | Database | 627 new ventures from 2013 to 2016, combining data from Crunchbase, Twitter, and Amazon Alexa web information services | CMO personality traits (openness to experience, extraversion, conscientiousness, neuroticism and agreeableness) | Web traffic (to the new venture's website) |
| No | No |
| Nath and Bharadwaj (2020, JAMS) | Database | 401 public U.S. firms in the COMPUSTAT Database from 2009 to 2013 | CMO presence: the presence or absence of an executive with a marketing title in TMT | Firm performance |
| No | No |
| Kumar et al. (2021, JIBS) | Database | 297 firms in the COMPUSTAT Database from 2007 to 2016 | Strategic, operational, and financial discretion of the CMO | Internationalization of the MNE |
| No | No |
| Current study | Survey | 139 SMEs and large firms in the U.S. | Dedicated MPTMT, joint marketing and sales MPTMT; joint marketing and other operations MPTMT | Cross-functional integration, NPD performance |
| Yes, based on who is responsible for marketing in the TMT | Yes |
| Authors (date and journal) | Data source | Firms in the sample | MPTMT independent variable(s) | Outcome variable(s) | Key findings | Captures different structures of MPTMT? | Tests the mediating mechanism(s) between MPTMT and performance? |
|---|---|---|---|---|---|---|---|
| Database | 167 firms with sales of at least $250 million in 2002 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Firm performance (sales growth and Tobin's q) | No significant impact of MPTMT on firm performance | No | No | |
| Database | 88 CMO announcements made by publicly traded firms | CMO appointee experience as a CMO | Firm performance (stock price movement after appointment) | The impact of CMO appointee is mixed and is contingent upon the types of experience and customer power | No | No | |
| Database | 167 firms with sales of at least $250 million in 2002 | CMO power in TMT (estimated by the levels and size of the TMT) | Firm performance (sales growth and return on sales) | CMO power in TMT has no direct effect on performance outcomes CMO responsible for sales has a positive effect on sales growth | Yes, but only based on marketing job titles | No | |
| Database | 612 publicly traded firms with an average of $8.4 billion in assets | Marketing power (count of, compensation, rank and responsibilities of marketing-titled executives in the TMT) | Marketing capabilities (i.e. SG&A expenses); firm performance (ROA and TSR) | Marketing power affects firm performance, mediated by marketing capabilities | No | Yes, using marketing expenses as a proxy for marketing capability | |
| Database | 155 publicly traded firms with sales of at least $250 million in 2002 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Tobin's q; systematic risk; idiosyncratic risk; sales growth | CMO presence is positive on Tobin's Q, but less related to other performance measures. A list of contingencies is discussed | No | No | |
| Database | 224 | Marketing/PR integration (MPRI) in the TMT: A senior-level executive who is responsible for both marketing and public relations | Reputation; profitability | MPRI is positively related to reputation The impact of MPRI on profitability is positive only in service-oriented firms | Yes, but only based on marketing job titles | No | |
| Database and survey | 117 of the 3,000 largest publicly traded U.S. firms | CMO presence: The presence or absence of an executive with a marketing title in TMT | Market orientation | The effect of CMO presence is insignificant The effect of the interaction between CMO presence and marketing experience in the TMT is positive | No | No | |
| Database | 1,091 firms listed in the S&P 1500 between 2007 and 2012 | CMO presence: The presence or absence of an executive with a marketing title in TMT | Revenue growth; Tobin's q; TSR (total shareholder return); ROA | CMO presence positively affects Tobin's Q and TSR | No | No | |
| Database | 329 firms listed in S&P 900 between 2007 and 2015 | Marketing personnel presence in the TMT: Whether a member with a marketing title is in TMT | Firm performance (Tobin's q) | Marketing personnel presence in the TMT positively affects performance. In addition, the presence doesn't weaken the positive impact of customer on the board on performance | No | No | |
| Database | 781 publicly traded firms in the U.S. between 2000 and 2015 | Marketing power (Count of, compensation, rank and responsibilities of marketing-titled executives in the TMT) | Myopic marketing spending; myopic revenue management | With a marketing CEO, an increase in marketing power decreases the likelihood of both myopic marketing spending and myopic revenue management | No | No | |
| Database | 820 executive appointment announcements (436 of which being marketing and sales) in firms traded on U.S. public exchanges | Announcements of marketing-only, sales-only, and joint marketing and sales appointments | Abnormal return | Marketing-only appointment announcements generate positive abnormal stock returns Sales-only appointment announcements generate positive abnormal returns only in the absence of marketing-only appointments Joint marketing and sales appointment announcements negatively affect abnormal stock returns | Yes, but only based on marketing job titles | No | |
| Database | 627 new ventures from 2013 to 2016, combining data from Crunchbase, Twitter, and Amazon Alexa web information services | CMO personality traits (openness to experience, extraversion, conscientiousness, neuroticism and agreeableness) | Web traffic (to the new venture's website) | Extraversion is positively related to web traffic, while conscientiousness and neuroticism are negatively related to web traffic. The other two traits have no impact on web traffic The interactions of these traits and the new venture's maturity affect web traffic | No | No | |
| Database | 401 public U.S. firms in the COMPUSTAT Database from 2009 to 2013 | CMO presence: the presence or absence of an executive with a marketing title in TMT | Firm performance | CMO presence has a positive effect on firm performance Chief sales officer presence strengthens the effect of CMO under high industry sales volatility Chief technology officer presence enhances the effect of CMO presence when industry innovation is high Chief supply chain officer presence amplifies the effect of CMO presence under high firm diversification | No | No | |
| Database | 297 firms in the COMPUSTAT Database from 2007 to 2016 | Strategic, operational, and financial discretion of the CMO | Internationalization of the MNE | Internationalization increases at a diminishing rate with the increase of CMO's strategic, operational, and financial discretion The TMT's international experience amplifies the effects of the CMO's operational and financial discretion CMO equity compensation strengthens the impact of strategic discretion | No | No | |
| Current study | Survey | 139 SMEs and large firms in the U.S. | Dedicated MPTMT, joint marketing and sales MPTMT; joint marketing and other operations MPTMT | Cross-functional integration, NPD performance | All MPTMT configurations, when compared to the absence of MPTMT, positively influence cross-functional integration in NPD, thereby improving new product performance Joint MPTMT structures have a greater positive impact than a dedicated MPTMT. As TMT heterogeneity increases, the positive effect of a dedicated MPTMT weakens more than those of the other two MPTMT structures | Yes, based on who is responsible for marketing in the TMT | Yes |
Source(s): Authors' own creation