Advanced Search

Journal Navigation

Journal Home

Subscriptions

Archive

Contact Us

Table of Contents

CiteULike is a free service for managing and discovering scholarly references - click here to get started.

Sign In to gain access to subscriptions and/or personal tools.
Journal of the Academy of Marketing Science
This Article
Right arrow Full Text (PDF)
Right arrow References
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Right arrow Citation Map
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Similar articles in ISI Web of Science
Right arrow Add to Saved Citations
Right arrow Download to citation manager
Right arrow Add to My Marked Citations
Citing Articles
Right arrow Citing Articles via HighWire
Right arrow Citing Articles via Web of Science (5)
Right arrow Citing Articles via Google Scholar
Google Scholar
Right arrow Articles by Conchar, M. P.
Right arrow Articles by Zinkhan, G. M.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Complore   Add to Connotea   Add to Del.icio.us   Add to Digg   Add to Reddit   Add to Technorati   Add to Twitter  
What's this?

Market Valuation Models of the Effect of Advertising and Promotional Spending: A Review and Meta-Analysis

Margy P. Conchar

East Carolina University, concharm{at}mail.ecu.edu

Melvin R. Crask

University of Georgia, mcrask{at}terry.uga.edu

George M. Zinkhan

University of Georgia, gzinkhan{at}terry.uga.edu

A narrative review is presented, within the organizing framework of a meta-analysis, of econometric models reported in the business literature that estimate the effect of advertising and promotional spending on the market value of the firm. Results from published market valuation models are aggregated, and various model specifications are appraised. In brief, the meta-analysis finds support for a positive relationship between levels of advertising and promotional spending and the market value of the firm. That is, marketing activities (represented here by observed advertising and promotions spending) are generally expected to deliver future cash flows and produce increases in shareholder wealth. The review seeks to enhance understanding among the community of marketing scholars of the properties of market valuation models published in the literature and serves as a springboard for ongoing investigation of a crucial question for marketing theory and practice.

Key Words: marketing and finance • market value • shareholder wealth • econometric models • advertising and promotion • performance measures

Journal of the Academy of Marketing Science, Vol. 33, No. 4, 445-460 (2005)
DOI: 10.1177/0092070305277693
Add to CiteULike CiteULike   Add to Complore Complore   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us   Add to Digg Digg   Add to Reddit Reddit   Add to Technorati Technorati   Add to Twitter Twitter    What's this?


This article has been cited by other articles:


Home page
 REV FINANC STUDHome page
C. E. Fee, C. J. Hadlock, and J. R. Pierce
Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms
Rev. Financ. Stud., June 1, 2009; 22(6): 2361 - 2392.
[Abstract] [Full Text] [PDF]

Home page
 Journal of the Academy of Marketing ScienceHome page
T. Hennig-Thurau, M. B. Houston, and G. Walsh
The Differing Roles of Success Drivers Across Sequential Channels: An Application to the Motion Picture Industry
Journal of the Academy of Marketing Science, October 1, 2006; 34(4): 559 - 575.
[Abstract] [PDF]

Home page
 Journal of the Academy of Marketing ScienceHome page
T. J. Madden, F. Fehle, and S. Fournier
Brands Matter: An Empirical Demonstration of the Creation of Shareholder Value Through Branding
Journal of the Academy of Marketing Science, April 1, 2006; 34(2): 224 - 235.
[Abstract] [PDF]