Investor sentiment and advertising expenditure

Mian, G. Mujtaba; Sharma, Piyush; Gul, Ferdinand A.

doi:10.1016/j.ijresmar.2018.08.005

Cited by 31 publications

(13 citation statements)

References 64 publications

(101 reference statements)

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“…We extended our search to identifying the correlation between sentiment and innovation investment. Our study showed that, negative sentiment causes higher innovation investment whilst most previous research works focused on the statistical significance of sentiment on innovation investment as well as the impact of sentiment on other financial variables (Tri & Zhaoxia, 2016;Daniel, 2016;Mujtaba, Piyush, & Ferdinand, 2018;Tanya, Samuel, & Francisco, 2018). Our findings provide an adequate information for firms" making innovation-investment decisions.…”

Section: Theoretical Contributions Of Our Studymentioning

confidence: 46%

“…Thus, during the periods when market participants are more rational, high returns will lead to increased innovation activities in the firm. Mujtaba, Piyush, and Ferdinand (2018) showed that, investor sentiment can influence firm"s advertising expenditure. They found that, during periods of low (high) investor sentiment, firms decrease (increase) their advertising expenditure, even though the effectiveness of advertising is greater (lower) during such periods.…”

Section: Review Of Literaturementioning

confidence: 99%

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Investor Sentiment, Innovation Investment and Cash Dividend

Xu¹,

Isaac²,

Hao³

et al. 2019

IJEF

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Investor sentiment plays a critical role in corporate innovation investment. Firms resort to innovation in their attempts to satisfying the demands of their investors. We argue empirically in our study that investor sentiment has impact on firms’ innovation decisions. We also argue that, strong negative sentiment has higher propensity to foster corporate innovation investment. We analyzed a nine- year panel data ranging from 2009-2017, which consisted of 3,558 Chinese listed firms. A verification of the impact of dividend policy on firms’ innovation investment was conducted. We found that, favorable dividend policy would trigger corporate innovation investment. We also found a statistically significant relationship between innovation investment and firm performance. Our findings showed a positive association between corporate innovation investment and firm performance. We also conducted a series of robustness checks on our empirical models and then discussed the contribution of our study, theoretically and practically.

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Section: Theoretical Contributions Of Our Studymentioning

confidence: 46%

Section: Review Of Literaturementioning

confidence: 99%

Investor Sentiment, Innovation Investment and Cash Dividend

Xu¹,

Isaac²,

Hao³

et al. 2019

IJEF

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“…Marketing expenditures are not only shortterm expenditures but also long-term investments for a company since marketing activities contribute to the firm's brand equity that will improve the profit margin, current and future earnings (Graham & Frankenberger, 2011). Payoffs of advertising expenditures can be viewed as uncertain and accruing over a long time, but advertising expenditures, namely marketing investments on brand equity have significant impact on financial measures (Grullon et al, 2004;Mian et al, 2018;Sydney-Hilton &Vila-Lopez, 2019). In a company, marketing expenditures may exceed capital expenditures and although companies do not disclose marketing expenditures as consistently as financial expenditures, marketing expenditures are effective on future sales and market value of a company (Herremans & Ryans, 1995;Sydney-Hilton &Vila-Lopez, 2019).…”

Section: The Impact Of Marketing Activities On Business Performance Imentioning

confidence: 99%

The Impact of Marketing on the Business Performance of Companies: A Literature Review

Köylüoğlu¹,

Tosun²,

Doğan³

2021

Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi

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The technology-based global competition environment that pushes businesses to constructive transformation in order to ensure customer satisfaction has further increased the importance of marketing capabilities in business strategies. The purpose of the literature review is to summarize the previous studies about marketing-financial performance nexus. Studies that were published between 1969 and 2019 could be reached from the EBSCO database were included in the literature review. A significant number of studies conducted in different countries have shown that marketing spending is an investment that creates value for the company and has a positive impact on firm profitability, firm value or firm sales. This study contributes to the literature by summarizing the research findings on the effects of marketing investments on business performance.

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“…Hal tersebut juga mengindikasikan kinerja perusahaan akan melemah ketikan manajemen laba terus di lakukan. Selain penjualan, hal lain yang dapat meningkatkan beban iklan dalam beban diskresional adalah intuisi investor (Mian, dkk., 2018). Khususnya untuk perusahaan yang menitikberatkan pada pendanaan eksternal, beban iklan menjadi penting untuk meningkatkan nilai perusahaan di mata investor.…”

Section: Pengaruh Abnormal Beban Diskresional Terhadap Kinerja Perusaunclassified

Pengaruh Manajemen Laba Riil terhadap Kinerja Perusahaan setelah Konvergensi IFRS

2020

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Penelitian ini menganalisa pengaruh dari manajemen laba riil terhadap kinerja perusahaan setelah konvergensi IFRS. Terdapat 3 cara dalam melakukan manajemen laba riil yaitu dengan meningkatkan penjualan secara tidak wajar, melakukan produksi secara berlebihan serta mengurangi beban diskresioner. Ketiga cara tersebut diproyeksikan dalam abnormal penjualan, abnormal produksi, dan abnormal beban diskresional. Dari 47 perusahaan Infrastruktur, Telekomunikasi, dan Transportasi, terdapat 329 sampel yang terkumpul dari tahun 2012 hingga 2018 dengan metode purposive sampling. Keseluruhan sampel diuji untuk mengetahui pengaruhnya terhadap kinerja perusahaan yang diproyeksikan dengan ROA. Dari hasil penelitian, ditemukan bahwa setelah terjadinya konvergensi IFRS, manajemen laba riil masih terjadi di perusahaan sebagai metode substantif dari metode peningkatan kinerja yang lain. Selain itu, peningkatan penjualan secara tidak wajar serta kelebihan tingkat produksi tidak berpengaruh terhadap kinerja perusahaan. Sedangkan penurunan beban diskresional berpengaruh positif terhadap kinerja perusahaan.

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Investor sentiment and advertising expenditure

Cited by 31 publications

References 64 publications

Investor Sentiment, Innovation Investment and Cash Dividend

Investor Sentiment, Innovation Investment and Cash Dividend

The Impact of Marketing on the Business Performance of Companies: A Literature Review

Pengaruh Manajemen Laba Riil terhadap Kinerja Perusahaan setelah Konvergensi IFRS

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