Product market advertising and new equity issues

By Thomas J. Chemmanur, An Yan. 2009

163 citations recorded by the source corpus.

Subfields: Accounting, Finance, Marketing

View Paper: https://www.semanticscholar.org/paper/2f98766bfd24bd512313f94edc4eeead89cd0a51

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Citations in the corpus

Does advertising spending really work? The intermediate role of analysts in the impact of advertising on firm value (2010, background): “It is noted that “because a firm’s product quality and the value of its projects might not be perfectly correlated, outsiders such as investors cannot know the true value of firm products” (Chemmanur and Yan 2009, p. 41).”
Open source information, investor attention, and asset pricing (2013, background): “…models (Hirshleifer and Teoh, 2003; Merton, 1987; Sims, 2003) of investor attention, different kinds of indirect proxies, including advertising (Chemmanur and Yan, 2009; Grullon et al., 2004), media coverage (Chan, 2003; Fang and Peress, 2009), excessive trading volume and stock return (Barber…”
The Information Content of IPO Prospectuses (2009, unknown): “While Chemmanur and Yan (2008) find that firms that engage in more product marketing prior to the IPO have lower underpricing, our results suggest that firms that talk about marketing are more likely to have information revealed during bookbuilding and have higher initial returns.”
IPOs versus Acquisitions and the Valuation Premium Puzzle: A Theory of Exit Choice by Entrepreneurs and Venture Capitalists (2011, unknown): “…are Stoughton, Wong, and Zechner (2001), who argue that the decision of a firm to go public may signal high quality to the product market, and Chemmanur and Yan (2009), who demonstrate, theoretically and empirically, that the extent of product market advertising undertaken by a firm will…”
Asymmetric Roles of Advertising and Marketing Capability in Financial Returns to News: Turning Bad into Good and Good into Great (2013, background): “However, the finance literature has stated that individual investors’ selling is constrained because their portfolio holdings of individual stocks are limited (Barber and Odean 2008; Chemmanur and Yan 2009a).”
Attracting investor attention through advertising (2014, methodology): “(8)In an independent study, Chemmanur and Yan (2010) report a similar return effect induced by product market advertising. This paper differs importantly from Chemmanur and Yan (2010) in that it focuses on the link between this return effect and managerial behavior around equity sales.”