RT Journal Article
SR Electronic
T1 The Market Value Of Celebrity Endorsement
JF Journal of Advertising Research
JO J Advert Res
FD WARC
SP 65
OP 74
DO 10.2501/JAR-2016-021
VO 58
IS 1
A1 Agnihotri, Arpita
A1 Bhattacharya, Saurabh
YR 2018
UL http://www.journalofadvertisingresearch.com/content/58/1/65.abstract
AB Studies in Western countries about stock-market response to celebrity endorsement news have produced mixed results. The current study, in comparison, examined stock-market 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.