Simone Wies has received the "Sturm & Drang Award" in 2019. On 13 December, she was awarded for the best publication by a young researcher at the Dies Academicus of the Department of Economics and Business Administration at Goethe University. Wies is an Assistant Professor at Goethe University and works in the program area “Household Finance” of SAFE.
The awarded paper "Can Advertising Investments Counter the Negative Impact of Shareholder Complaints on Firm Value?" examines how managers react to shareholder complaints which could inflict financial damage. The authors find that firms increase advertising investments as a response and that these investments mitigate the negative effects of complaints on corporate value.
Bernd Skiera, Professor of Marketing at Goethe University and member of the jury, highlighted Wies' interdisciplinary work in the fields of marketing and finance in his laudation.
The paper is co-authored by Arvid Oskar Ivar Hoffmann (University of Adelaide Business School, Australia), Jaakko Aspara (Hanken School of Economics), and Joost M. E. Pennings (Maastricht University, Marketing-Finance Research Lab, and Wageningen University). The study was published in the Journal of Marketing in May 2019, a summary of the paper can be found in SAFE Newsletter Q2/2019.
Wies has held the SAFE Assistant Professorship for Marketing and Finance at Goethe University since 2014. Previously, she was a Post-doctoral Researcher at the Fuqua School of Business at Duke University in Durham; she received her Master's and Ph.D. at the University of Maastricht. Wies´ research interests lie in the interactions between capital markets and management decisions. She examines how capital markets value marketing decisions and innovation projects, and how these, in turn, influence the strategic decisions made by marketing managers.
The "Sturm & Drang Prize" has been awarded annually since 2012 for the best publication by a young researcher of the Faculty of Economics and Business Administration of the Goethe University. It is endowed with 1,500 Euro. The award ceremony is traditionally held at the Dies Academicus of the faculty.