PT  - JOURNAL ARTICLE
AU  - Arpita Agnihotri
AU  - Saurabh Bhattacharya
TI  - The Market Value Of Celebrity Endorsement
AID  - 10.2501/JAR-2016-021
DP  - 2016 Oct 27
TA  - Journal of Advertising Research
PG  - JAR-2016-021
4099  - http://www.journalofadvertisingresearch.com/content/early/2016/10/25/JAR-2016-021.short
4100  - http://www.journalofadvertisingresearch.com/content/early/2016/10/25/JAR-2016-021.full
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.