Cole Short’s Research on “Asymmetric Events” Published in Journal of Management
Pepperdine Graziadio faculty member Cole Short and coauthor Michael D. Pfarrer contributed to groundbreaking research on "Asymmetric Events" which has been published in the prestigious Journal of Management, shedding light on the intricate strategies employed by firms in managing evaluator impressions, particularly when faced with negative events.
The study delves into the less-explored realm of anticipatory and reactive impression management, emphasizing the interplay between these strategies. Focusing on information asymmetric negative events—occurrences known first to firm insiders—the research demonstrates how firms leverage anticipatory and reactive strategies in tandem.
By analyzing 238 late-stage, publicized clinical trial termination events in the pharmaceutical industry from 2003 to 2017, the study unveils the nuanced and interrelated nature of firm impression management. The findings not only contribute to a deeper understanding of these strategies but also offer insights into their relative effectiveness in shaping firm stock responses following asymmetric events.
Short’s research marks a significant advancement in the field, highlighting the complexity of managing impressions during challenging circumstances.
Read more about the research here.