NOOSHIN LOTFI WARREN

Transcription

1 NOOSHIN LOTFI WARREN Ph.D. Candidate in Marketing 220V Wehner Building Tel: Mays Business School Fax: College Station, Texas Education: Ph.D. in Marketing, 2011-present Master of Business Administration (MBA), Sharif University of Technology Bachelor of Science in Industrial Engineering (System Dynamics Analysis), Sharif University of Technology National Organization for Development of Exceptional Talents (NODET) Research Interests: New product development and innovation Firm/stock market communication strategies Measuring the financial value of marketing actions and assets The impact of top management on the effectiveness of marketing actions Awards and Honors: 2015 Sheth AMA Doctoral Consortium Fellow, London Business School 2015 University of Houston Doctoral Symposium Participant 2014 Mays Business School Merit Award 2014 EMAC Best Paper of the Conference Based on a Doctoral Dissertation 2014 Runner-up in the PDMA Consortium Speed Funding Dissertation Competition 2014 Runner-up in the PDMA Team Research Competition Workshop 2014 ISMS INFORMS Doctoral Consortium Fellow 2014 PDMA Doctoral Consortium Fellow The PDMA-UIC Innovation Doctoral Consortium is held every three years, admits only 20 doctoral students from a large pool of applicants who submit their dissertation research, and is intended to build community among young NPDinnovation researchers, networked to and supported by senior scholars and the PDMA Present PhD Excellence Fellowship 2011-Present Mays Business School Marketing Department Research Scholarship 1

2 2010 Distinguished MBA Candidate, GSME, Sharif University of Technology 2008 Top-Ten, National Graduate Study Examination in the field of Management Working Papers and Manuscripts under Review: Warren, Nooshin and Alina Sorescu, Diminishing Returns to New Product Announcements: How the Past Shapes Investors Expectations of Firms Innovative Output, - Revising for 3 rd round review at the Journal of Marketing Research - EMAC Best Paper of the Conference Based on a Doctoral Dissertation Warren, Nooshin and Alina Sorescu, When 1+1>2: How Investors React to New Product Releases Announced Concurrently with other Corporate News - Under review at the Journal of Marketing (Special issue associated with the 2015 Theory + Practice in Marketing Conference) Work in Progress: Srinivasan Shuba, Warren, Nooshin, and Alina Sorescu, The View from the Top: How Top Management affects the Valuation of Innovation - A proposal underlying this project was a winner of the WCAI (Wharton Customer Analytics Initiative) Equilar research proposal competition Warren Nooshin, Joseph Johnson, Shyam Kumar, and Alina Sorescu, Preannouncements as Market Signals: How Firms Learn from the Stock Market Warren Nooshin, Good News, Bad News or Mixed News: How the Sequencing of Corporate Announcements affects Firm Value Conference Presentations: Diminishing Returns to New Product Announcements: How the Past Shapes Investors Expectations of Firms Innovative Output 1) EMAC Conference, Valencia, Spain, June 2014 (competitive submission) 2) AMA/ECMI/EMAC Marketing & Innovation Symposium, Rotterdam, Netherland 2014 (by invitation, presented by co-author) 3) INFORMS Marketing Science Conference, Emory University, June 2014 When 1+1>2: How Investors React to New Product Releases Announced Concurrently With Other Corporate News 4) Theory + Practice in Marketing, Georgia State University, June 2015 (competitive submission conference submissions are considered for a special issue of Journal of Marketing) 2

3 5) AMA Winter Conference, University of Texas at San Antonio, February 2015 (competitive submission - as part of a special session) 6) Fred Rhodewalt Social Psychology Winter Conference, University of Utah, January 2015 (by invitation) Refereed papers in conference proceedings: Dehdashti, Yashar, Nooshin Lotfi (Warren), and Naser Karami, Analyzing Factors that Affect the Development of Customer Relationship Commitment: An FCM Approach, International Conference on Artificial Intelligence (ICAI) Proceedings, Las Vegas, Dehdashti, Yashar, Nooshin Lotfi (Warren), Aidin. T. Namin, and Manoochehr Najmi, Importance of Factors that Affect Consumers Perception of Fairness in Dynamic Pricing: An FCM Approach, International Conference on Artificial Intelligence (ICAI) Proceedings, Las Vegas, Teaching Interests: New product development International marketing Marketing strategy Marketing research Product management Digital marketing / e-marketing Pricing Marketing management Teaching Experience: Innovation and Product Management (MKTG 442) (Undergraduate Instructor of record) 2015 Overall student evaluation rating 4.92/5 obtained for a section of 35 undergraduate students Marketing Management, (Undergraduate -Teaching Assistant), 2011/ 2012 Principles of Marketing, (MBA Course-Teaching Assistant), Sharif University of Technology 2010 Corporate Finance (MBA Course-Teaching Assistant) Sharif University of Technology 2010 Project Management (Graduate Course-Teaching Assistant) Sharif University of Technology 2010 New Product Development (Executive MBA Course-Co instructor with Dr. Reza Zaefarian) Department of Entrepreneurship, Tehran University 2009 English (Certified Teacher), Kish Language Institute 2009 Computer Information System (Undergraduate Course Teaching Assistant) 3

4 Sharif University of Technology 2005 Professional Experience: Research: Graduate Research Assistant Mays Business School, 2011-present Research Assistant Department of Entrepreneurship, University of Tehran Press Editor Division of Science, Andishehsazan Press Business: Marketing Manager Khosro Medisa Teb (KMT) [AstraZeneca s representative in Iran] MBA Advisor Mahan Institute of Science Information and business service officer Iran Mashhood Auditing, Financial & Management Servicing Institute Public Relations Manager Industrial Engineering Magazine, Department of Industrial Engineering, Sharif University of Technology Doctoral Courses (Instructors in parentheses): Doctoral Seminar in Marketing Models (Dr. Venky Shankar) Doctoral Seminar in Buyer Behavior (Dr. Allan Chen) Doctoral Seminar in Marketing Strategy (Dr. Rajan Varadarajan) Doctoral Seminar in Econometrics and Multivariate Data Analysis (Dr. Alina Sorescu) Doctoral Seminar in Corporate Finance (Dr. David Mauer) Econometrics I (Dr. Hae-shin Hwang) Foundation of Microeconomics Theory (Dr. Timothy Gronberg) Applied Econometrics Methods (Dr. Ximing Wu) Special Topics in Empirical Microeconometrics (Dr. Li Gan) Applied Microeconometrics (Dr. Li Gan) Statistics in Research III (Dr. Darya Akleman) Methods of Multivariate Analysis (Dr. William Smith) Applied Categorical Data Analysis (Dr. Thomas Wehrly) Directed Studies in Mathematics and Statistics (Dr. Qi Li) ISBM IPSS doctoral seminar on innovation taught by Dr. Gerard Tellis from University of Southern California 4

5 References: Alina B. Sorescu Marketing PhD Program Director Associate Professor of Marketing Rebecca U. '74 and William S. Nichols III '74 Professorship Mays Business School 220L Wehner Building 4112 TAMU College Station, TX, Mark Houston Professor and Department Head Blue Bell Creameries Chair in Business Mays Business School 220 Wehner Building 4112 TAMU College Station, TX, Rajan Varadarajan Distinguished Professor of Marketing Ford Chair in Marketing & E-Commerce Mays Business School 215F Wehner Building 4112 TAMU College Station, TX, Shuba Srinivasan Professor/Dean's Research Fellow/Academic Lead of Digital Technology Sector Marketing Boston University Questrom School of Business 595 Commonwealth Avenue Boston, MA Professional Affiliations: American Marketing Association Immigration status: US Permanent Resident 5

6 Dissertation: Title: New Perspectives on Assessing the Stock Market Value of Innovation Dissertation Advisor: Dr. Alina Sorescu Innovation is considered an imperative for firm survival and growth. Nevertheless, we occasionally see examples of investors failing to respond positively to new product announcements. This dissertation attempts to rationalize investors behavior by offering new insights on how they react to firms new product announcements. The first essay investigates how firms success at past new product introductions leads to a smaller investor reaction to subsequent new product announcements by these firms. The second essay shows that concurrently announcing new product releases with other corporate news leads to a more positive stock market reaction to the combined announcement than that of the sum of similar separate announcements, chosen through propensity scoring techniques to match the characteristics of the concurrent announcement. Both essays employ the event study method over large samples of new product announcements and provide hitherto unexplored boundaries for the valuation of new products, as well as helpful insights to managers in terms of when and how to introduce their new products in order to maximize their firms stock market value. Essay I: Diminishing Returns to New Product Announcements: How the Past Shapes Investors Expectations of Firms Innovative Output. Abstract Research shows that innovation raises the market value of firms. However, if firms are successful innovators, investors expectations of such firms future innovative output will increase. These expectations should cause an ex-ante increase in stock prices and a smaller ex-post market reaction when an actual new product is announced. The authors focus on a set of firm and industry characteristics that influence the formation of investor expectations of events that are part of a corporate strategy. The authors empirically test the effect of these characteristics using a sample of 4,898 new product announcements made by 833 publicly traded US firms. They show that the stock market reaction to a new product announcement is negatively related to (1) the number of new products previously announced by the firm, (2) the number of new products previously announced by the firm s competitors, and (3) the sentiment of past public news affecting the firm. These same three factors are also positively related to the market value of the firm measured immediately prior to each new announcement, controlling for increases in firm value directly attributable to past new product announcements. The results suggest that inferences from event studies that examine a special class of events - recurrent events or events that are part of a firm s broader strategy - need to take into account investors expectations of future occurrences of these events. The findings also suggest that innovation s impact on firm value is best measured in the long term. Essay II: When 1+1>2: How Investors React to New Product Releases Announced Concurrently with other Corporate News Abstract: Prior research shows that the stock market reaction to new product announcements is, on average, positive. However, the variance of this reaction is high. While most studies have examined the magnitude of the stock reaction to new product announcements and its determinants, evidence of managers input 6

7 regarding how announcements are made is scarce. Specifically, should a new product announcement be issued independently or concurrently with other corporate news? The authors use a comprehensive sample of corporate announcements made by publicly traded U.S. firms to document the consequences of firms announcing the release of a new product concurrently with another positively valenced corporate announcement. They first propose a set of firm- and industry-specific determinants of the likelihood that firms issue, on the same day, a new product release and another corporate announcement. They then show that concurrent new product announcements increase firms visibility in the stock market and positively affect shareholder value. This research can guide managers in issuing corporate announcements in a way that increases their impact on stock prices. 7