Celebrity performance and endorsement value: the case of Tiger Woods

Farrell, Kathleen A.; Karels, Gordon V.; Montfort, Kenneth W.; McClatchey, Christine A.

doi:10.1108/03074350010766756

Cited by 86 publications

(69 citation statements)

References 15 publications

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“…Tiger Woods, a well-known professional golfer is an example of how a fall in popularity of a successful endorser due to scandals involving alleged extramarital affairs resulted in the loss of a number of large endorsement business contracts. Nike signed a five-year contract with Woods fora fee of approximately US$105 million in 2000 (Farrell et al, 2000). The successful match of Woods with Nike resulted in substantial financial gains for both parties as well as engendering psychological credibility on the brand.…”

Section: Relationship Of Corporate Image To Corporate Credibilitymentioning

confidence: 99%

Effect of Celebrity Endorsement on Consumer’s Perception of Corporate Image, Corporate Credibility and Corporate Loyalty (Case Study: Novin Charm Company)

Ghotbivayghan

Hoseinzadehshahri²,

Ebrahimi³

2015

CSBM

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Nowadays, the use of celebrity endorsement in product marketing and advertising is one of the major factors in companies' promotion strategies. Celebrities as one of the major tools in advertising can lead to encourage consumers to use specific products and corporate loyalty because of their special and unique abilities or characteristics.Study result show that the celebrity endorsement has a positive effect on corporate image, corporate credibility and corporate loyalty. Moreover corporate image have a positive effect on corporate credibility and corporate credibility have a positive effect on corporate loyalty.

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Section: Relationship Of Corporate Image To Corporate Credibilitymentioning

confidence: 99%

Effect of Celebrity Endorsement on Consumer’s Perception of Corporate Image, Corporate Credibility and Corporate Loyalty (Case Study: Novin Charm Company)

Ghotbivayghan

Hoseinzadehshahri²,

Ebrahimi³

2015

CSBM

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“…However, cumulative abnormal returns are significant for the announcement date only; for all other event windows, ranging from (−1, 1) to (−10, 10), cumulative abnormal returns are mixed and not significantly different from zero. Farrell et al (2000) explore the impact of Tiger Woods' tournament performance on endorsing firms' value. The authors document no relationship for Fortune Brands and American Express, but a significant relationship in case of Nike.…”

Section: Introduction and Prior Workmentioning

confidence: 99%

The value of celebrity endorsements: A stock market perspective

Ding¹,

Molchanov

Stork

2010

Mark Lett

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Are celebrity endorsements worthwhile investments in advertising? To answer this question, we analyze a unique sample of 101 announcements made between 1996 and 2008 by firms listed in the USA. Internet is the main medium of communication for these announcements. We employ event study methodology and document statistically insignificant abnormal returns around the announcement dates. This finding is consistent with the notion that the incremental benefits from celebrity endorsements closely match the incremental costs due to such contracts. Further, we investigate if the announcement date return depends on a number of characteristics that are often used in the endorsement literature. As a result, we find that endorsements of technology industry products coincide with significant positive abnormal returns around the announcement dates. Finally, we find weak support for the match-up hypothesis between celebrities and endorsed products.

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“…In particular, we test whether the reaction in the market value follows the pattern of diminishing sensitivity and loss aversion of Kahneman and Tversky's (1979) Prospect Theory. As greater sports contention leads to greater media coverage (Farrell et al, 2000), we expect that the larger the advantage in the result of a victory is, the greater effect on the market value will be, but it will happen up to a point as there must be a satiation point. In other words, an "easy victory" will generate less media coverage than a close, hard-fought match.…”

Section: Introductionmentioning

confidence: 99%

Celebrity endorsers' performance on the “ground” and on the “floor”

Nicolau

Santa-María

2012

Mark Lett

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This article analyzes the relationship between two types of performances, one on the ground (of a tennis court) and the other on the floor (of the stock market). The empirical application looks into the tennis player, Rafael Nadal, and his endorsing firms. The findings show a positive reaction in the market value when the tennis player wins matches in the Grand Slams, the intriguing effect being the diminishing sensitivity pattern that such reaction shows and the absence of loss aversion.

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Celebrity performance and endorsement value: the case of Tiger Woods

Cited by 86 publications

References 15 publications

Effect of Celebrity Endorsement on Consumer’s Perception of Corporate Image, Corporate Credibility and Corporate Loyalty (Case Study: Novin Charm Company)

Effect of Celebrity Endorsement on Consumer’s Perception of Corporate Image, Corporate Credibility and Corporate Loyalty (Case Study: Novin Charm Company)

The value of celebrity endorsements: A stock market perspective

Celebrity endorsers' performance on the “ground” and on the “floor”

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