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Impact of Advertising Intensity on Market Risk of a Firm: A Study on the Indian Consumer Goods Sector

Shalini Nath Tripathi, Dheeraj Misra and Masood Siddiqui

Global Business Review, 2020, vol. 21, issue 6, 1376-1386

Abstract: The objective of this article is to assess the impact of advertising intensity of a firm on its market risk or beta in the Indian consumer goods sector. Our sample companies are part of four sectoral indices of Bombay Stock Exchange, namely, fast-moving consumer goods (FMCG), consumer durable, auto and telecom indices. Pooled regression analysis is deployed to assess the impact of advertising intensity on market risk. The results reveal that advertising intensity is a significant determinant of market risk, and that beta or market risk of a firm varies inversely with its advertising intensity with reference to the Indian consumer goods sector.

Keywords: Advertising intensity; market risk; Indian consumer goods sector; pooled regression analysis (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:globus:v:21:y:2020:i:6:p:1376-1386

DOI: 10.1177/0972150919856998

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