Relating Online, Regional, and National Advertising to Firm Value
Relating Online, Regional, and National Advertising to Firm Value
复制标题
DOI：
10.1509/jm.14.0231
复制
发表时间：
2016-07-01
影响因子：
12.9
通讯作者：
Grewal, Rajdeep
中科院分区：
文献类型：
--
作者：
Sridhar, Shrihari;Germann, Frank;Grewal, Rajdeep
公司每年在广告上花费数十亿美元，但仍然不确定在各种广告工具上的分配。随着在线广告的激增和消费者的媒体使用模式变得更加分散，分配决策变得更加复杂。为了确定广告的有效性，作者将公司的广告媒介选择分为三个理论基础和经验验证的较小子集：国家，地区和在线广告。随后，他们评估了这三种广告媒介如何独立和共同影响公司业绩。使用涵盖662家制造业公司的12年数据，作者发现，虽然国家，地区和在线广告各自对公司绩效具有积极和显著的主要影响，但每种广告工具都会削弱其他两种广告工具的有效性（例如，在线广告每增加1%，公司业绩就会增加0.32%，但也会降低全国性的[0.15%]和地区性的[0.03%]广告效果。一组鲁棒性检查对这一结果进行了三角测量。虽然这三种媒介工具都有助于业绩的净增长，但作者讨论了战略性地整合它们以最大限度地提高综合效益的必要性。
Firms spend billions of dollars on advertising every year but remain uncertain about allocation across various advertising vehicles. Allocation decisions are even more complex as online advertising has proliferated and consumers' media usage patterns have become more fragmented. To determine advertising effectiveness, the authors group firms' advertising vehicle choices into three theoretically grounded and empirically verified smaller subsets: national, regional, and online advertising. Subsequently, they assess how the three advertising vehicles independently and jointly affect firm performance. Using 12 years of data covering 662 manufacturing firms, the authors find that while national, regional, and online advertising each have a positive and significant main effect on firm performance, each advertising vehicle weakens the effectiveness of the respective other two advertising vehicles (e.g., a 1% increase in online advertising increases firm performance by .32% but also decreases national [.15%] and regional [.03%] advertising effectiveness). A battery of robustness checks triangulates this result. Although all three media vehicles contribute to net increases in performance, the authors discuss the need to strategically integrate them to maximize combined effectiveness.