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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 저널정보
- Academy of Asian Business (AAB) Academy of Asian Business Review Academy of Asian Business Review 제1권 제1호
- 발행연도
- 2015.6
- 수록면
- 17 - 34 (18page)
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With fast economic growth and urbanization of the country, the size of the domestic consumer market of China is getting larger. To attract and satisfy the emerging new customers in China, local and multinational firms face the challenge of innovating their products and communicating their value with the customers. Hence, R&D and marketing functions in the Chinese firms have become more important for their sustainable growth. In this paper, we focus on advertising expenditures spent by publicly listed Chinese firms and examine key determinants of advertising spending by the Chinese firms. By manually reading annual reports from the public firms each year between 2004 and 2008, we obtained the data for firm-level advertising expenditures. We then propose the firm’s ownership structure as an important driver of advertising spending in China. Specifically, we measure the ownership by 1) government, 2) institutions, and 3) management using financial statement data, and we find that institutional ownership is positively associated with adverting expenditures. With the findings, we provide several implications to managers, especially managers conducting their business in an emerging Asian market like China.
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참고문헌 (28)
참고문헌 신청
Aaker, David A. / 1991 / Managing Brand Equity / Free Press
Barnett, V. / 1994 / Outliers in statistical data / Wiley
Barth, M. E. / 1998 / Brand Values and Capital Market Valuation / Review of Accounting Studies 3(1/2):41~68
Boubakri, N. / 2012 / Political connections and the cost of equity capital / Journal of Corporate Finance 18(3):541~559
Bryan, S. / 2000 / CEO stock-based compensation: An empirical analysis of incentive-intensity, relative mix, and economic determinants / Journal of Business and Society 73(4):661~693
Barnett, V. / 1994 / Outliers in statistical data / Wiley
Barth, M. E. / 1998 / Brand Values and Capital Market Valuation / Review of Accounting Studies 3(1/2):41~68
Boubakri, N. / 2012 / Political connections and the cost of equity capital / Journal of Corporate Finance 18(3):541~559
Bryan, S. / 2000 / CEO stock-based compensation: An empirical analysis of incentive-intensity, relative mix, and economic determinants / Journal of Business and Society 73(4):661~693
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