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| Tekijä: | Ebrahim, A. Tikoo, S. |
| Otsikko: | Financial markets and marketing: the tradeoff between R&D and advertising during an economic downturn |
| Lehti: | Journal of Advertising Research
2010 : MAR, VOL 50:1, p. 50-56 |
| Asiasana: | advertising expenditure r&d costs stock returns investors |
| Kieli: | eng |
| Tiivistelmä: | This article studies the effect of different tradeoffs between advertising and research & development investments on the firm's stock returns and earnings during an economic downturn period. Testing their hypotheses using a data sample of U.S. firms from the years 2000-2002, the authors find that the stock returns were higher for firms that increased their expenditures on advertising and decreased their expenditures on R&D during this economically challenging time. The results seem to imply that investors prefer marketing over development during an economic downturn. |
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