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| Format: | Artículo científico |
| Language: | en |
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Universidad ICESI
2023
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| Online Access: | https://www.redalyc.org/articulo.oa?id=21282728002 https://www.redalyc.org/journal/212/21282728002/ https://www.redalyc.org/journal/212/21282728002/html/ https://www.redalyc.org/journal/212/21282728002/21282728002.epub https://www.redalyc.org/journal/212/21282728002/movil |
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Table of Contents:
- Advertising and Asymmetric Information : Evidences from Brazilian Stock Market Alexandre Ripamonti Administración y Contabilidad S_2 Marketing advertising finance interface panel cointegration This research demonstrates that it is possible for investors to anticipate the effects of advertising campaigns. It examined the long-term relationship between advertising and asymmetric information based on the theories of value creation through advertising and market microstructure. We assume that asymmetric information and advertising have a positive and significant relationship. Data from corporations listed on a developing stock market for 57 quarters were analyzed. Advertising was defined as the relationship between selling expenses, and asymmetric information according to the Corwin-Schultz S_2 measure. The results were controlled for traditional determinants of finance. A long-term relationship was observed between advertising and asymmetric information, thus confirming the theoretical framework. The implications are related to the anticipation of short- and long-term effects resulting from advertising through asymmetric information and cointegration to study the phenomena of the marketing-finance interface; restrictions are related to the coverage of the sample. JEL classification: C33; D82; G32; M37. 2023 artículo científico 0123-5923 https://www.redalyc.org/articulo.oa?id=21282728002 https://www.redalyc.org/journal/212/21282728002/ https://www.redalyc.org/journal/212/21282728002/html/ https://www.redalyc.org/journal/212/21282728002/21282728002.epub https://www.redalyc.org/journal/212/21282728002/movil 10.18046/j.estger.2023.167.5489 en http://www.redalyc.org/revista.oa?id=212 Estudios Gerenciales application/pdf Universidad ICESI Estudios Gerenciales (Colombia) Num.167 Vol.39