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

7 Scopus citations

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

All Science Journal Classification (ASJC) codes

  • Communication
  • Marketing

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