Advertising and Investor Recognition of Banking Firms: Evidence from Taiwan

Tsai-Ling Liao, Hao-Chang Sung, Min-Teh Yu

研究成果: Article同行評審

2 引文 斯高帕斯(Scopus)

摘要

This study examines the effect of advertising expenditure on strengthening a firm's intangible capital and firm value by attracting the public on the firm's visibility and then investigates the role of advertising expenditures on a banking firm's market value, liquidity, and breadth of ownership. The empirical results find that the advertising has a significantly positive effect on banking firm's share value, liquidity, and institutional holdings. Consequently, this study concludes that advertising benefits banking firms through increased investor perceptions of such firms. In particular, the findings provide additional support for the home bias phenomena, in which investors prefer to invest in familiar stocks.
原文English
頁(從 - 到)812-824
頁數13
期刊Emerging Markets Finance and Trade
52
發行號4
DOIs
出版狀態Published - 四月 2016

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