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| Tekijä: | Kulkarni, M.S. Vora, P.P. Brown, T.A. |
| Otsikko: | Firing advertising agencies: Possible reasons and managerial implications |
| Lehti: | Journal of Advertising
2003 : VOL. 32:3, p. 77-86 |
| Asiasana: | Advertising agencies Finance Stock markets |
| Kieli: | eng |
| Tiivistelmä: | This study examines the possible reasons for the firing of ad agencies and relates these reasons to the stock price consequences of the firings using event-study methodology. After analyzing a variety of performance measures for profitability, sales, and market share of the client firms prior to the firing, it is found that firms firing their ad agencies have lost market share in the two quarters immediately preceding the firing. It is reported here, for the first time, that the fall in the stock price of client firms is significantly related to the fall in market share preceding the firing. |
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