The Effect of Advertising Slogan Changes on the Market Values of Firms

Lynette Knowles Mathur · Ike Mathur

91 citations0/0 files storedJournal of Advertising Research

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Marketing and Advertising Strategies Corporate Finance and Governance Corporate Identity and Reputation

Abstract

A variety of factors motivate managers of firms to change advertising slogans. Principal among these factors is the desire to improve the financial performance of the firm, which should be viewed positively by investors, and should result in a higher market value of the firm. The purpose of this paper is to examine the effects of announcements of advertising slogan changes on the market values of the firms. A sample of 87 firms that announced advertising slogan changes was compiled for analysis. The results show that there are significantly positive market-value effects associated with announcements of advertising slogan changes. The results suggest that judicious use of advertising slogan changes is beneficial for firms.

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References

1985Using daily stock returns 1969The Adjustment of Stock Prices to New Information 1991The Impact of New Product Introductions on the Market Value of Firms 1948Advertising Principles and Practice 1987Does it Pay to Change Your Company's Name? A Stock Market Perspective

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