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| Author: | Jeong, J. Yoo, C. Y. |
| Title: | Deceptive advertising and abnormal stock returns: An event study analysis |
| Journal: | International Journal of Advertising
2011 : VOL. 30:3, p. 509-535 |
| Index terms: | advertising consumer behaviour COMPANIES event studies |
| Language: | eng |
| Abstract: | This paper analyzes the impact of misleading advertising on the abnormal stock returns. The study is based on an event study analysis with 101 cases. The data was collected from the Federal Trade Commission (FTC) database over the period 1987-2005. The results reveal that misleading advertising have negative effects on the abnormal stock returns. However, the firms with greater advertising capabilities cope better with the impact of misleading advertising than firms with lower advertising capabilities. In addition, the negative effect on the abnormal stock returns did not disappear immediately and therefore marketing managers should be careful in designing advertising messages. |
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