スズキ　トモヒロ   SUZUKI Tomohiro   鈴木　智大    所属   経営学部 経営学科    職種   准教授
言語種別	英語
発行・発表の年月	2013/06
形態種別	論文その他
標題	Does Management Forecast Drive Growth of the Firm?
執筆形態	共著
掲載誌名	Working Paper Series / Center for Japanese Business Studies N0.172
著者・共著者	Tomohiro Suzuki, Yusuke Takasu
概要	The purpose of this study is to analyze the relation between ex ante high goals set by managers and ex post growth of those firms. We develop our hypothesis based on knowledge from goal setting theory and over-extension strategy and test the hypothesis that firms which issued aggressive management forecasts continuously in ex ante period grow higher in ex post period than firms that issued non-aggressive management forecasts. From our analyses, we find ex ante management forecast innovation (MFI) is positively related to ex post firm growth after controlling the endogeneity of MFI via two-stage least squares regression and propensity score matching.