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- W1536701354 abstract "We further the understanding of cross-sectional differences in trading activity. Specifically, we link a firm’s visibility, as measured by advertising, to its stock turnover. First, we suggest three mechanisms (beyond simple awareness) capable of explaining how the repeated and consistent ads from well-known firms in the marketplace are linked to turnover. Second, using a data base of firms reporting advertising between January 1971 and December 2007, we regress average daily turnover within a year on annual ad spending for the year and find a positive and significant coefficient after controlling for extant determinants of turnover. Third, using a twenty year Super Bowl advertising event study, we again document a positive relationship between advertising and turnover." @default.
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- W1536701354 date "2010-01-01" @default.
- W1536701354 modified "2023-10-16" @default.
- W1536701354 title "Advertising, Visibility, and Stock Turnover" @default.
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- W1536701354 doi "https://doi.org/10.2139/ssrn.1572097" @default.
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