Periodic Reporting for period 1 - MARKETING EXPENDITUR (Marketing Expenditure Budgeting: from the Upper Echelon to the Lower Echelon)

Firms set budgets to fund marketing activities. The importance of well designed marketing campaigns is undisputed, but overspending in marketing erodes profits and harms social welfare. From the regulator’s perspective, it is not feasible to interfere with firms’ decision...