TY - JOUR
T1 - The market value of celebrity endorsement evidence from India reveals factors that can influence stock-market returns
AU - Agnihotri, Arpita
AU - Bhattacharya, Saurabh
N1 - Publisher Copyright:
© 2018, World Advertising Research Center. All rights reserved.
PY - 2018/3/1
Y1 - 2018/3/1
N2 - Studies in Western countries about stock-market response to celebrity endorsement news have produced mixed results. The current study, in comparison, examined stockmarket response from an emerging market—India. The authors investigated determinants of positive abnormal stock-market returns, analyzing 149 endorsement news events from 2003 to 2014. The results indicate that, in India, variables such as endorsement announcement specificity, the reputation of the endorsing celebrity, and whether the endorsing company is of Indian origin can generate positive abnormal returns.
AB - Studies in Western countries about stock-market response to celebrity endorsement news have produced mixed results. The current study, in comparison, examined stockmarket response from an emerging market—India. The authors investigated determinants of positive abnormal stock-market returns, analyzing 149 endorsement news events from 2003 to 2014. The results indicate that, in India, variables such as endorsement announcement specificity, the reputation of the endorsing celebrity, and whether the endorsing company is of Indian origin can generate positive abnormal returns.
UR - http://www.scopus.com/inward/record.url?scp=85043606915&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85043606915&partnerID=8YFLogxK
U2 - 10.2501/JAR-2016-021
DO - 10.2501/JAR-2016-021
M3 - Article
AN - SCOPUS:85043606915
SN - 0021-8499
VL - 58
SP - 65
EP - 74
JO - Journal of Advertising Research
JF - Journal of Advertising Research
IS - 1
ER -