參考文獻 |
Aaker, David, 1991. “Managing Brand Equity,” New York: The Free Press. Aaker and Robert Jacobson, 1994. “The FinanciaI lnformation Content of Perceived Quality, ” Journal of Marketing Research, 31(2), 191-201. Aboody, D., and B. Lev, 2000. “Information Asymmetry, R&D and Insider Gains,” Journal of Finance, 55, 2747-2766. Acharya, V.V., S.T. Bharath, and A. Srinivasan, 2007. “Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries,” Journal of Financial Economics, 85, 787–821. American Business Press, 2002. http://www.americanbusinesspress.com Andras, T.L and Srinivasan,S.S, 2003. “Advertising intensity and R&D intensity: Differences across industries and their impact on firm’s performance,” International Journal of Business and Economics, 2(2), 167-176. Andersson, M., 2010. “Using intraday data to gauge financial market responses to Fed and ECB monetary policy decisions,” International Journal of Central Banking, 6, 117–146. Anderson W.E., Fornell C., and Mazvancheryl S.K., 2004. “Customer Satisfaction and Shareholder Value,” Journal of Marketing, 68 (4), 172–186. Ang, A. and Bekaert, G., 2002. “International asset allocation with regime shifts,” Review Financial Study, 15, 1137–1187. Ang, A. and Chen, J., 2002. “Asymmetric correlations of equity portfolios,” Journal of Financial Economics, 63, 443–494. Austin, D. H., 1993. “An Event-Study Approach to Measuring Innovative Output: The Case of Biotechnology,” The American Economic Review, 83, 253–258. Bagwell, K., and G. Ramey, 1994a. ‘‘Advertising and Coordination,’’ Review of Economics Studies, 61(1), 153–171. Bagwell, K., and G. Ramey, 1994b. ‘‘Coordination Economies, Advertising, and Search Behavior in Retail Markets,’’ American Economic Review, 84(3), 498–517. Baker, M. and Wurgler, J., 2006. ‘‘Investor sentiment and the cross-section of stock returns,’’ Journal of Finance, 61, 1645–1680. Baker, M. and Wurgler, J., 2007. ‘‘Investor sentiment and the stock market,’’ Journal of Economic Perspectives, 21, 129–151. Barwise, P. (Ed.), 1999. “Advertising in a recession: The benefits of investing for the long run,” Henley-on-Thames, UK7 NTC Publications. Barwise, P. and Styler, A., 2002. “Marketing expenditure trends,” London, UK7 London Business School/Havas Marketing Report. Backman, Jules, 1968. “Is Advertising Wasteful?,” Journal of Marketing, 32(1), 2-8. Basistha, A. and Kurov, A., 2008. “Macroeconomic cycles and the stock market’s reaction to monetary policy,” Journal of Banking and Finance, 32, 2606–2616. Belo, Lin, and Vitorino, 2011. “Brand Capital, Firm Value and Asset Returns,” Working paper. Bernanke, B. S. and A. S. Blinder, 1992. “The Federal-Funds Rate and the Channels of Monetary Transmission,” American Economic Review, 82(4), 901-921. Bernanke, B.S., M. Gertler, and S. Gilchrist, 1996. “The financial accelerator and the flight to quality,” Review of Economics and Statistics, 78, 1–15. Bernanke, B.S. and K.N. Kuttner, 2005. “What explains the stock market’s reaction to Federal Reserve policy? ,” Journal of Finance, 60, 1221–1257. Ben Zion, U., 1978. “The Investment Aspect of Nonproduction Expenditures: An Empirical Test.” Journal of Economics and Business, 30, 224–229. Biel, Alexander L., and Stephen King, 1990. “Options and Opportunities for Consumer Businesses: Advertising During a Recession,” Dublin: The WPP Center for Research and Development. Blank, David M., 1964. “Some Comments on the Role of Advertising in the American Economy─A Plea for Revaluation,” L. George Smith, editor, Reflections on Progress in Marketing (Chicago, Illinois: American Marketing Association), 151. Bohl, M., Siklos, P., and Sondermann, D., 2008. “European stock markets and the ECB's monetary policy surprises,” International Finance, 11, 117–130. Bomfim, A., 2003. “Pre-announcement effects, news effects, and volatility: Monetary policy and the stock market,” Journal of Banking and Finance, 27, 133–151. Bonfim, D., 2009. “Credit risk drivers: Evaluating the contribution of firm level information and of macroeconomic dynamics,” Journal of Banking and Finance, 33, 281–299. Boulding W., Lee E, and Staelin R., 1994. “Mastering the Mix: Do Advertising, Promotion, and Sales Force Activities Lead to Differentiation?” Journal of Marketing Research, 31, 159-172. Boulding William, and Richard Staelin, 1995. “Identifying generalizable effects of strategic actions on prior performance: The case of returns to research and development spending,” Marketing Science, 14 (3), G222–36. Brown, G.W. and Cliff, M.T., 2005. “Investor sentiment and asset valuation,” Journal of Business, 78, 405–440. Bruche, M., Gonzalez-Aguado, C., 2010. “Recovery rates, default probabilities, and the credit cycle,” Journal of Banking and Finance, 34, 713–723. Busby J.S. and Pitts C.G.C, 1997. “Real options in practice:an exploratory survey of how finance of ficers deal with flexibility in capital appraisal,” Management Accounting Research, 8, 169-186. Callahan, F. X., 1982. “Advertising and Profits 1969-78,” Journal of Advertising Research, 22 (2), 17-22 Candelon, B., Piplack, J., Straetmans, S., 2008. “On measuring synchronization of bulls and bears: The case of East Asia,” Journal of Banking and Finance, 32 (6), 1022–1035. Capon, N., Farley, J. U., and Hoenig, S., 1990. “Determinants of Financial Performance - a Metaanalysis,” Management Science, 36(10), 1143-1159. Carling, K., T. Jacobson, J. Linde and K. Roszbach, 2007. “Corporate credit risk modeling and the macroeconomy,” Journal of Banking and Finance, 31, 845–868. Cenesizoglu, T. and Essid, B., 2010. “The effect of monetary policy on credit spreads,” HEC working paper, Montreal. Chambers, Dennis J., Ross Jennings and Robert B. Thompson, 2003. “Managerial discretion and accounting for research and development costs,” Journal of Accounting, Auditing and Finance, 18, 79–113. Chan, S., J. Martin and J. Kensinger., 1990. “Corporate Research and Development Expenditures and Share Value,” Journal of Financial Economics, 26, 255–276. Chan, Louis K.C., Josef Lakonishok and Theodore Sougiannis, 2001. “The stock market valuation of research and development expenditures,” Journal of Finance, 56 (6) 2431-56. Chaney, P. K., Devinney, T. M., and Winer, R. S., 1991. “The Impact of New Product Introductions on the Market Value of Firms,” Journal of Business, 64(4), 573-610. Chauvin and Hirschey 1993. “Advertising, R&D expenditures and the market value of the firm,” Financial Management, 22, 128–140. Chen, D., Kevin Krieger, and Nathan Mauck, 2010. “The uncertainty resolution of FOMC meeting days,” Working paper, University of Tulsa and Florida State University. Chen, E.T. and Clements, A., 2007. “S&P 500 implied volatility and monetary policy announcements,” Finance Research Letters, 4, 227–232. Chen, K.C., Gailen L. Hite, and David C. Cheng, 1989. “Barriers to Entry, Concentration, and Tobin's q Ratio,” Quarterly Journal of Business and Economics, 28(Spring), 32-49. Chen, S., 2007. “Does monetary policy have asymmetric effects on stock returns? ,” Journal of Money, Credit and Banking, 39, 667–688. Cheng, C.S. Agnes and Charles J.P.Chen, 1997. “Firm Valuation of Advertising Expense: An Investigation of Scaler Effects,” Managerial Finance, 23(10), 41-62. Chulia, Helena, Martin Martens, and Dick van Dijk, 2010. “Asymmetric effects of federal funds target rate changes on S&P100 stock returns volatilities and correlations,” Journal of Banking and Finance, 34, 834–839. Clark, C. Robert, Ulrich Doraszelski and Michaela Draganska, 2009. “The effect of advertising on brand awareness and perceived quality: an empirical investigation using panel data,” Quantitative Marketing and Economics, 7, 207–236. Clark, W., H. Freeman, and D. Hanssens., 1984. “Opportunities for Revitalizing Stagnant Markets: An Analysis of Household Appliances,” Journal of Product Innovation Management, 4, 242-254. Coakley, J., Fuertes, A.-M., 2006. “Valuation ratios and price deviations from fundamentals,” Journal of Banking and Finance, 30 (8), 2325–2346. Cockburn, I., and Griliches, Z., 1988. “Industry Effects and Appropriability Measures in the Stock Markets Valuation of R-and-D and Patents,” American Economic Review, 78(2), 419-423. Colucci, M., Elisa Montaguti, and Umberto Lago, 2008. “Managing brand extension via licensing: An investigation into the high-end fashion industry,” International Journal of Research in Marketing, 25(2), 129−137. Comanor, William S., and Thomas Wilson, 1967. “Advertising, Market Structure and Performance,” The Review of Economics and Statistics, 49(4), 423-440. Conover, C. Mitchell, Gerald R. Jensen, Robert R. Johnson and Jeffrey M. Mercer, 2005. “Is fed policy still relevant for investors?,” Financial Analysts Journal, 61(1), 70-79. Cooley and Quadrini V., 2006. “Monetary policy and the financial decisions of firms,” Economic Theory, 27(1), 243–270. Day, George and Liam Fahey, 1988. “Valuing market strategies,” Journal of Marketing, 52 (3), 45-57. Damodaran and Ashwath, 2001. “Corporate Finance: Theory and Practice,” 2d ed. Hoboken,NJ:John Wiley& Sons. Domowitz, I., Hubbard, R. G., Peterson, B. C., 1988. “Market structure and cyclical fluctuations in U.S. manufacturing,” The Review of Economics and Statistics, 70(1), 55-66. Doms, M. and Morin, N., 2004. “Consumer sentiment, the economy, and the news media,” FRBSF Working Paper, 2004-09. Ducoffe, R.H., 1995. “How consumer assess the value of advertising,” Journal of Current Issues and Research in Advertising, 17(1), 1-18. Ducoffe, R.H. and Curlo, E., 2000. “Advertising value and advertising,” Journal of Marketing Communication, 6(4), 247-262. Duffie, D., L. Saita, and K. Wang, 2007. “Multi-period corporate default prediction with stochastic covariates,” Journal of Financial Economics, 83, 635–665. Dutta, Shantanu, Om Narasimhan, and Surendra Rajiv, 1999. “Success in High-Technology Markets: Is Marketing Capabil- ity Critical?,” Marketing Science, 18 (4), 547-68. Ehrmann, M., and Fratzscher, M., 2004. “Taking stock: Monetary policy transmission to equity markets,” Journal of Money, Credit and Banking, 36, 719–737. Ehrmann, M., and Fratzscher, M., 2009. “Global financial transmission of monetary policy shocks,” Oxford Bulletin of Economics and Statistics, 71, 739–759. Erickson, Gary and Robert Jacobson, 1992. “Gaining competitive advantage through discretionary expenditures: The returns to R&D and advertising,” Management Science, 38 (9), 1264–79. Fama E.F. and French K.R., 1992. “The Cross-Section of Expected Stock Returns,” The Journal of Finance, 47(2), 427-465. Farber, Henry S., 1981. “Splitting-the-Difference in Interest Arbitration,” Industrial and Labor Relations Review, ” 35(Apri), 70-77. Farka, M., 2009. “The effect of monetary policy shocks on stock prices accounting for endogeneity and omitted variable biases,” Review of Financial Economics, 18, 47–55. Farquhar, Peter H. 1989. “Managing Brand Equity.” Marketing Research,1, 24-33. Frankenberger, K. D. and R. C. Graham, 2003. “Should firms increase advertising investments during recessions?,” Report 03-003, Marketing Science Institute, Cambridge, MA. Frieder and Subrahmanyam, 2005. “Brand Perceptions and the Market for Common Stock,” Journal of Financial and Quantitative Anlysis, 40(1), 57-85. Gabisch, G., Lorenz, H., 1987. “Business cycle theory: A survey of method and concepts,” New York, NY7 Springer-Verlag. Gatignon, H., 1984. “Competition as a Moderator of the Effect of Advertising on Sales,” Journal of Marketing Research, 21(4), 387-398. Gatignon, Hubert and Jean-Marc Xuereb. 1997. “Strategic Orientation of the Firm and New Product Performance,” Journal of Marketing Research, 34(2), 77-90. Golder, P. N., and Tellis, G. J., 1997. “Will it ever fly? Modeling the takeoff of really new consumer durables,” Marketing Science, 16(3), 256−270. Gospodinov, N. and Jamali, I., 2010. “Stock market volatility and federal funds rate surprises,” Working paper, Concordia University and American University of Beirut. Graham R.C. and Frankenberger K.D., 2011. “The Earnings Effects of Marketing Communication Expenditures During Recessions,” Journal of Advertising , 40(2), 5-24. Gray, S.F., 1996. “Modeling the Conditional Distribution of Interest Rates as a Regime Switching Process,” Journal of Financial Economics , 42, 27-62. Griliches, Z. (Ed.), 1987. “R&D, patents, and productivity,” University of Chicago Press, Chicago, IL. Grullon, Gustavo, George Kanatas, and James P. Weston, 2004. “Advertising, breadth of ownership and liquidity,” The Review of Financial Studies, 17 (2), 439-61. Guidolin, M. and Timmermann, A., 2008. “Size and value anomalies under regime shifts,” Journal of Financial Economics, 6, 1–48. Gulen, Xing, and Zhang, 2011. “Value versus Growth: Time-Varying Expected Stock Returns ,” Financial Management, 381 – 407. Guo, H., 2004. “Stock prices, firm size, and changes in the federal funds rate target ,” Quarterly Review of Economics and Finance, 44, 487–507. Gupta, A.K., S.P. Raj, and D. Wilemon, 1987. "“Managing the R&D-Marketing Interface,” Research Management, 30 (2), 38-43 Gupta, Sunil and Donald R. Lehmann, 2003. “Customers as Assets,” Journal of Interactive Marketing, 17, 1, 9-24. Gupta S., Lehmann D., and Stuart J.A., 2004. “Valuing Customers,” Journal of Marketing Research, 41(1), 7–18. Hahn, J. and Lee, H., 2006. “Yield spreads as alternative risk factors for size and book-tomarket,” Journal of Financial and Quantitative Analysis, 41, 245–269. Hahn T.,O'Neill M. and Swisher J., 2007. “The rold of monetary policy in some anomalies,” Journal of Academy of Business and Economics, 7(1). Hall, Bronwyn H., and Robert E. Hall, 1993. “The value and performance of U.S. corporations,” Brookings Papers on Economic Activity, 1–34. Hamliton, J.D., 1989. “A new approach to the economic analysis of nonstationary time series and the business cycle,” Econometrica, 57(2), 357-384. Hand, J. R. M., 2001. “The Economic Versus Accounting Impact of R&D on U.S. Market-to-Book Ratios,” Working Paper, University of North Carolina. Heath, Chip and Amos Tversky, 1990. “Presence and Belief: Ambiguity and Competence in Choice under Uncertainty,” in Contemporary Issues in Decision making (K. Borcherding and O. Larichev, Eds), North Holland, Amsterdam, 93-123. Herath H.S.B and Park C.S., 1999. “Economic analysis of R&D projects: an options approach,” The Engineering Economist, 44(1), 1-35. Hirschey M. and Weygandt J.J., 1985. “Amortization Policy for Advertising and Research and Development Expenditures,” Journal of Accounting Research, 23(1), 326-225 Ho, Y. K., Keh, H.T., and Ong, J., 2005. “The effects of R&D and advertising on firm value: An Examination of Manufacturing and Non-Manufacturing Firms,” IEEE Transactions on Engineering Management, 52(1), 3-14. Ho, Y. K., Xu, Z. and Yap, C. M., 2004. “R&D investment and systematic risk,” Accounting and Finance, 44(3), 393-418. Hufbauer, G. C., 1970. “The Impact of National Characteristics and Technology on the Commodity Composition of Trade in Manufactured Goods,” In Raymond Vernon, ed., The Technology Factor in International Trade. New York: Colum-bia University Press, 145-231. Ioannidis, C. and Kontonikas, A., 2008. “The impact of monetary policy on stock prices,” Journal of Policy Modeling, 30, 33–53. Jaffe, Adam B., 1986. “Technological opportunity and spillovers of R&D: Evidence from firms’ patents, profits, and market value,” American Economic Review, 76 (5), 984-1001. Jensen, Gerald R., Robert R. Johnson, and Jeffrey M. Mercer, 2002. “Tactical asset allocation and commodity futures - Ways to improve performance,” Journal of Portfolio Management, 28(4), 100-111. Joshi, Amit, and Dominique M. Hanssens, 2004. “Advertising spending and market capitalization,” Working Paper No. 388, Marketing Studies Center, Anderson School of Management, University of California, Los Angeles. Joshi, Amit M., and Dominique M. Hanssens, 2006.“Advertising spending and market capitalization,” Working Paper No 388 (revised), Marketing Studies Center, UCLA Anderson School of Management. Kamber, Thomas, 2002. “The Brand Manager’s Dilemma: Understanding How Advertising Expenditures Affect Sales Growth During a Recession,” Journal of Brand Management, 10 (2), 106-121. Katona, George, 1975. Psychological Economics. New York: Elsevier Scientific Publishing. Keller, Kevin L., 2002. “Building, Measuring, and Managing Brand Equity,” Strategic Brand Management Paramus, NJ: Prentice Hall. Kholodilin, Konstantin, Alberto Montagnoli, Oreste Napolitano and Boriss Siliverstovs, 2009. “Assessing the impact of the ECB’s monetary policy on the stock markets: A sectoral view,” Economics Letters, 105, 211–213. Kijewski, V., 1982. “Media Advertising When Your Market Is in a Recession,” Cahners Advertising Research Report, Strategic Planning Institute. Kim, W. S. and Lyn, E. O., 1990. “Fdi Theories and the Performance of Foreign Multinationals Operating in the United-States,” Journal of International Business Studies, 21(1), 41-54. Kim, J, Ni, S. and Ratti, R. A., 1998. “Monetary policy and asymmetric response in default risk,” Economic Letters, 60, 83–90. Klibanoff, P., Lamont, O. and Wizman, T.A., 1998. “Investor reaction to salient news in closed-end country funds,” Journal of Finance, 53, 673–699. Kliger, D. and Kudryavtsev, A., 2008. “Reference point formation by market investors,” Journal of Banking and Finance, 32, 1782–1794. Klock and Megna, 2000. “Measuring and valuing intangible capital in the wireless communications industry,” Quarterly Review of Economics and Finance, 40, 519-532. Kotabe, M., 1990. “The Relationship between Offshore Sourcing and Innovativeness,” Journal of International Business Studies, 21 (4), 623-39. Kumar, A. and Lee, C.M.C., 2006. “Retail investor sentiment and return comovements,” Journal of Finance , 61, 2451–2486. Kurov, A., 2010a. “Investor sentiment and the stock market’s reaction to monetary policy,” Journal of Banking and Finance, 34, 139–149. Kurov, A., 2010b. “Does the stock market respond to monetary policy statements? ,” Working paper, West Virginia University. Lamey, Lien, Barbara Deleersnyder, Marnik G. Dekimpe, and Jan-Benedict E.M. Steenkamp, 2007. “How Business Cycles Contribute to Private-Label Success: Evidence from the United States and Europe,” Journal of Marketing, 71 (1), 1-15. Leone, RP, 1995. “Generalizing what is known about temporal aggregation and advertising carryover,” Marketing Science, 14 (3), 141-150. Lev, B., B. Sarath and T. Sougiannis., 2000. “R&D-Related Reporting Biases and Their Consequences.” Working Paper, New York University. Lev, Baruch and Theodore Sougiannis, 1996. “The capitalization, amortization and value relevance of R&D,” Journal of Accounting and Economics, 21 (1), 107-38. Li D., 2011. “Financial Constraints, R&D Investment, and Stock Returns,” The Review of Financial Studies, 24(9), 2974-3007. Lobo, B. J., 2000. “Asymmetric effects of interest rate changes on stock prices,” Financial Review, 35, 125–144. Lobo, B. J., 2002. “Interest rate surprises and stock prices,” The Financial Review, 37, 73–92. Luo, Xueming, 2008. “When marketing strategy first meets Wall Street: marketing spendings and firms’ initial public offerings,” Journal of Marketing, 72(5), 98-109. Luo, Xueming and Naveen Donthu, 2006. “Marketing’s Credibility: A Longitudinal Study of Marketing Communication Productivity and Shareholder Value,” Journal of Marketing, 70(4), 70-91. Maheu, J. M. and Mccurdy, T. H., 2000. “Identifying Bull and Bear Markets in stock Returns,” Journal of Business and Economic Statistics, 18, 100-112. MacInnis, Deborah J. and Bernard J. Jaworski, 1989. “Information Processing from Advertisements: Toward an Integrative Framework,” Journal of Marketing, 53, 1-23. Madden, Thomas J., Frank Fehle, and Susan Fournier, 2006. “Brands matter: An empirical demonstration of the creation of shareholder value through branding,” Journal of the Academy of Marketing Science, 34(2), 224–235. Megna, P. and M. Klock., 1993. “The Impact of Intangible Capital on Tobin’s q in the Semiconductor Industry.” The American Economic Review, 83, 265–269. Mansfield, E., 1981. “Composition of R&D Expenditures Relationship to Size of Firm, Concentration, and Innovative Output,” Review of Economics and Statistics, 63, 610-15. Mathur, Lynette Knowles and Ike Mathur, 2000. “An Analysis of the Wealth Effects of Green Marketing Strategies,” Journal of Business Research, 50, 193-2000. Mathur, Lynette Knowles, Ike Mathur and Nanda Rangan, 1997. “The Wealth Effects Associated with a Celebrity Endorser: The Michael Jordan Phenomenon,” Journal of Advertising Research, 37(3), 67-73. MBS Blog, 2008. “Don’t Skimp on Ad Budgets,” (December 1), (accessed April 11, 2010),[ http://www.medblacksea.com/blog/tag/millward-brown-group/]. McAlister, Leigh, Raji Srinivasan, and MinChung Kim, 2007. “Advertising, research and development, and systematic risk of firm,” Journal of Marketing, 71(1), 35-48. McGraw-Hill Research, 2002. http://www.mcgrawhill.com Minton, B.A. and Schrand, C., 1999. “The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing,” Journal of Financial Economics, 54, 423–460. Mizik, Natalie, and Robert Jacobson, 2003. “Trading off between value creation and value appropriation: The financial implication of shifts in strategic emphasis,” Journal of Marketing, 67(1), 63-76. Molina, C.A., 2005. “Are firms underleveraged? An examination of the effect of leverage on default probabilities,” Journal of Finance, 60, 1427–1459. Nelson, P., 1970. “Information and Consumer Behavior,” Journal of Political Economy, 78(2), 311–329. Nelson, P., 1974. ‘‘Advertising as Information,’’ Journal of Political Economy, 82, 729–54. Nikkinen, J. and Sahlstrom, P., 2004. ‘‘Impact of Federal Open Market Committee's meetings and scheduled macroeconomic news on stock market uncertainty,’’ International Review of Financial Analysis, 13, 1–12. Nishimura, Kiyohiko G., Takanobu Nakajima, and Kozo Kiyota, 2005. “Does the Natural Selection Mechanism Still Work in Severe Recessions? Examination of the Japanese Economy in the 1990s,” Journal of Economic Behavior and Organizations, 58 (1), 53–78. Pastine I. and Pastine T., 2002. “Consumption Externalities, Coordination, and Advertising,” International Economic Review, 43(3),919–943. Pauwels, Koen, Jorge Silva-Risso, Shuba Srinivasan, and Dominique M. Hanssens, 2004. “New products, sales promotions, and firm value: the case of the automobile industry,” Journal of Marketing, 68(4), 142-156. Pearl, J., 2001. “Intangible Investment, Tangible Results,” Sloan Management Review, 43, (3), 13-14. Penman, S. H. and X-J. Zhang., 2002. “Accounting Conservatism, the Quality of Earnings and Stock Returns,” The Accounting Review, 77, 237–264. Peress, J., 2008. “Media coverage and investors’ attention to earnings announcements,” Working Paper, INSEAD. Perlitz, M., Peske, T., and Schrank, R., 1999. “Real options valuation: the new frontier in R&D project evaluation? ,” R & D Management, 29(3), 255-269. Perez-Quiros, G. and A. Timmermann, 2000. “Firm Size and Cyclical Variations in Stock Returns,” Journal of Finance, 55, 1229-1262. Pesaran, M.H., T. Schuermann, B.J. Treutler, and S.M. Weiner, 2006. “Macroeconomic dynamics and credit risk: A global perspective,” Journal of Money, Credit, and Banking, 38, 1211–1262. Patelis, A., 1997. “Stock return predictability and the role of monetary policy,” Journal of Finance, 52, 1951–1972. Petkova, R., 2006. “Do Fama-French factors proxy for innovations in predictive variables? ,” Journal of Finance, 61, 581–612. Picard, R. G., 2001. “Effects of recessions on advertising expenditures: An exploratory study of economic downturn in nine developed countries,” Journal of Media Economics, 14(1), 1-14. Rao V.R., Agarwal M.K., and Dahlhoff D., 2004. “How is manifest branding strategy related to the intangible value of a corporation?,” Journal of Marketing, 68 (October), 126–41. Reichheld, Frednerick F., 1996. “The Loyalty Effect,” Boston: Harvard Business School Press. Roberts, Peter W., 2001. “Innovation and firm-level persistent profitability: A schumpeterian framework,” Managerial and Decision Economics, 22(4–5), 239-50. Rust, Roland T., Katherine N. Lemon and Valarie A. Zeithaml, 2001. “Driving Customer Equity: Linking Customer Lifetime Value to Strategic Marketing Decisions,” MSI Working Paper Series, Report No. 01-108. Schwert, G. W., 1989. “Tests for Unit Roots: A Monte Carlo Investigation,” Journal of Business and Economic Statistics, 7, 147–160. Shama A., 1981. “Coping with Staglation: Voluntary Simplicity,” Journal of Marketing, 45(3), 120-134. Shevlin, T., 1991. “The Valuation of R&D Firms with R&D Limited Partnerships,” The Accounting Review, 66, 1–21. Simpson, Ana V., 2008. “Voluntary Disclosure of Advertising Expenditures,” Journal of Accounting, Auditing and Finance, 23 (3), 404–436. Singh, Manohar, Sheri Faircloth, and Ali Nejadmalayeri 2005. “Capital market impact of product marketing strategy: Evidence from the relationship between advertising expenses and cost of capital,” Journal of the Academy of Marketing Science, 33 (4), 432–44. Sood, Ashish and Gerard J. Tellis, 2009. “Do Innovations Really Payoff? Total Stock Market Returns to Innovation,” Marketing Science, 28 (3), 442–56. Sorescu, Alina, Venkatesh Shankar, and Tarun Kushwaha, 2007. “New Product Preannouncements and Shareholder Value: Don’t Make Promises You Can’t Keep,” Journal of Marketing Research, 44(3), 468-489. Sougiannis, T., 1994. “The Accounting Based Valuation of Corporate R&D,” The Accounting Review, 69, 44–68. Srinivasan, R. and Lilien, G.L., 2009. “R&D, advertising and firm performance in recessions,” ISBM Report 3, 2009 (http://isbm.smeal.psu.edu/researcher/isbmresearch-database). Srinivasan, Raji, Gary L. Lilien, and Arvind Rangaswamy, 2005. “Turning Adversity into Advantage: Does Proactive Marketing During a Recession Pay Off?” International Journal of Research in Marketing, 22 (2), 109-125. Srinivasan, R., Lilien, G.L. and Shrihari Sridhar, 2011. “Should Firms Spend More on Research and Development and Advertising During Recessions?,” Journal of Marketing, 75(May),49–65 Srinivasan, S., Pauwels, K., Silva-Risso, J., and Hanssens, D. M., 2009. “Product innovations, advertising, and stock returns, ” Journal of Marketing, 73, 24-43. Srivastava, Rajendra, Tasadduq Shervani, and Liam Fahey, 1998. “Market-Based Assets and Shareholder Value: A Framework for Analysis,” Journal of Marketing, 62 (1), 2–18. Steenkamp, J. B. E. M. and Fang, E., 2011. “The Impact of Economic Contractions on the Effectiveness of R&D and Advertising: Evidence from US Companies Spanning Three Decades,” Marketing Science, 30(4), 628-645. Stigler, George J., 1961. “The Economics of Information, ” The Journal of Political Economy, 213, 216, 220. Stigler, George J., 1996. “The Theory of Price,” Third Edition (New York: The Macmillan Company), 200. Strategic Planning Institute, 2002. “Advertising in a recession,” http://www.spi.com Tang, D.Y. and Yan, H., 2006. “Macroeconomic conditions, firm characteristics, and credit spreads,” Journal of Financial Services Research, 29, 177–210. Tang, D.Y. and Yan, H., 2010. “Market conditions, default risk and credit spreads,” Journal of Banking and Finance, 34, 743–753. Thorbecke, W., 1997. “On stock market returns and monetary policy,” Journal of Finance, 52, 638–654 Vahamaa S. and Aijo J., 2011. “The fed's policy decisions and implied volatility,” The Journal of Futures Markets, 31(10), 995–1009. Vakratsas, Demetrios and Tim Ambler, 1999. “How Advertising Works: What Do We Really Know? ,” Journal of Marketing, 63 (1), 26-43. Wang, T., Yang, J., and Wu, J.,2006. “Central bank communications and equity ETFs,” Journal of Futures Markets, 26, 959–995. Weiss, Leonard W.,1969. “Advertising, Profits, and Corporate TaxesThe Review of Economics and Statistics,” 51(4), 421-430. Whitelaw, R., 2000. “Stock market risk and return: an equilibrium approach,” Review Financial Study, 13, 521–574. Wongswan, J., 2009. “The response of global equity indexes to U.S. monetary policy announcements,” Journal of International Money and Finance, 28, 344–365. Woolridge, R., 1988. “Competitive Decline and Corporate Restructuring: Is a Myopic Stock Market to Blame? ,” Journal of Applied Corporate Finance, 1, 26–36. Zarnowitz, V., 1985. “Recent work on business cycles in historical perspective: A review of theories and evidence,” Journal of Economic Literature, 23(June), 523-580. |