TY - JOUR T1 - The Market Value Of Celebrity Endorsement JF - Journal of Advertising Research JO - J Advert Res DO - 10.2501/JAR-2016-021 SP - JAR-2016-021 AU - Arpita Agnihotri AU - Saurabh Bhattacharya Y1 - 2016/10/27 UR - http://www.journalofadvertisingresearch.com/content/early/2016/10/25/JAR-2016-021.abstract N2 - 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. ER -