The Market Value of Celebrity Endorsement: Evidence from India Reveals Factors That Can Influence Stock-Market Returns
Arpita Agnihotri and Saurabh Bhattacharya
Studies in Western countries about stock-market response to celebrity endorsement news have produced mixed results.
Agnihotri and BattacharyaMANAGEMENT SLANT
- Companies in India that announce celebrity endorsements generate positive abnormal
stock returns.
- Celebrity reputation can further increase these abnormal returns.
- Niche celebrities create more positive...