Authors: Maqsood Iqbal Qureshi
Addresses: 606 Rundlehorn Circle, Calgary, T1Y 5T9, Canada
Abstract: This study empirically investigates the potential differential media advertising valuation effects for a sample of UK firms over the period 1998-2003. Contrary to the findings of previous research, this study could not find evidence that the valuation relevance of advertising varies substantially with the type of medium used to communicate it. The overall results of this study show a positive and significant association between different measures of advertising expenditures and the market value of the firm. All in all, this paper should help to understand better the extent to which different media advertising investments play a role in firm valuation in the UK market and enhance an advertiser's capacity to plan for and make optimal use of alternative media.
Keywords: advertising expenditure; media advertising; intangibles; firm valuation; market value; UK; United Kingdom; alternative media.
International Journal of Accounting, Auditing and Performance Evaluation, 2015 Vol.11 No.1, pp.1 - 13
Received: 04 Nov 2012
Accepted: 25 Nov 2013
Published online: 11 Mar 2015 *