The market value of celebrity endorsement evidence from India reveals factors that can influence stock-market returns

Arpita Agnihotri, Saurabh Bhattacharya

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

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.

Original languageEnglish (US)
Pages (from-to)65-74
Number of pages10
JournalJournal of Advertising Research
Volume58
Issue number1
DOIs
StatePublished - Mar 1 2018

Fingerprint

VIP
stock market
news
India
market
reputation
evidence
determinants
event
Industry
Market value
Celebrity endorsement
News
Factors
Endorsements
Stock market returns
Financial markets
Market response
Stock market
Announcement

All Science Journal Classification (ASJC) codes

  • Communication
  • Marketing

Cite this

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The market value of celebrity endorsement evidence from India reveals factors that can influence stock-market returns. / Agnihotri, Arpita; Bhattacharya, Saurabh.

In: Journal of Advertising Research, Vol. 58, No. 1, 01.03.2018, p. 65-74.

Research output: Contribution to journalArticle

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