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THE ECONOMIC VALUE OF CELEBRITY ENDORSEMENTS: A LITERATURE REVIEW

THE ECONOMIC VALUE OF CELEBRITY ENDORSEMENTS: A LITERATURE REVIEW Research on the increasing relevance and presence of celebrity endorsements, the mechanisms by which celebrity endorsements impact the market, and the link between stock market value and celebrity endorsements has yielded fairly consistent findings over the past decade. Applying new conceptual and methodological approaches, this study advances to the next level research on celebrity endorsements’ consequences on advertising effectiveness, the employment of celebrity endorsers as an advertising scheme, and the impacts of celebrity endorsement announcements on the market value of the firm. The theory that I shall seek to elaborate here puts considerable emphasis on celebrity endorsement persuasion effects, the potential advantageous influence of celebrity endorsements on sales and market shares, and the effect of celebrity endorsements on the brands and on products presented in the advertisements. JEL codes: M37; A13 Keywords: economic value; celebrity endorsement; advertising effectiveness http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

THE ECONOMIC VALUE OF CELEBRITY ENDORSEMENTS: A LITERATURE REVIEW

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

Research on the increasing relevance and presence of celebrity endorsements, the mechanisms by which celebrity endorsements impact the market, and the link between stock market value and celebrity endorsements has yielded fairly consistent findings over the past decade. Applying new conceptual and methodological approaches, this study advances to the next level research on celebrity endorsements’ consequences on advertising effectiveness, the employment of celebrity endorsers as an advertising scheme, and the impacts of celebrity endorsement announcements on the market value of the firm. The theory that I shall seek to elaborate here puts considerable emphasis on celebrity endorsement persuasion effects, the potential advantageous influence of celebrity endorsements on sales and market shares, and the effect of celebrity endorsements on the brands and on products presented in the advertisements. JEL codes: M37; A13 Keywords: economic value; celebrity endorsement; advertising effectiveness

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2014

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