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| Author: | Hsu, M.K. (et al.) |
| Title: | Does advertising stimulate sales or mainly deliver signals? A multivariate analysis |
| Journal: | International Journal of Advertising
2002 : VOL. 21:2, p. 175-195 |
| Index terms: | Advertising Sales |
| Language: | eng |
| Abstract: | This study aims to empirically examine the Galbraithian hypothesis that advertising adjusts aggregate demand to the changing industrial development and consequently stimulates sales. The causal relationship btw. sales and advertising are tested, using the U.S. aggregate data over the post-Second World War period. The results fail to support the Galbraithian hypothesis, suggesting instead the presence of potent reverse causality. |
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