Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/11101
Title: Advertising and firm risk : a study of the Restaurant Industry
Authors: Kim, YH 
Kim, MC 
O'Neill, JW
Keywords: Advertising
Equity risk
Hospitality
Restaurant
Systematic risk
Total risk
Unsystematic risk
Issue Date: 2013
Publisher: Routledge Journals, Taylor & Francis Ltd
Source: Journal of travel and tourism marketing, 2013, v. 30, no. 5, p. 455-470 How to cite?
Journal: N/A
Abstract: Incorporating recent calls for understanding firm equity risk in relation to a firm's marketing efforts, this study examined the impacts of firm-level advertising spending on firm equity risk with publicly listed firms in the restaurant industry-a key hospitality industry. This study hypothesized and tested the effects of firm-level advertising expenditures on different types of firm equity risk (i.e., total, systematic, and unsystematic risk). Unlike previous empirical findings, we found that an increase in advertising expenditures significantly increased total and unsystematic risk of sampled restaurant firms. The findings provide new insights into the effects of advertising on firm equity risk in the literature, and important theoretical and managerial implications for restaurant firms.
URI: http://hdl.handle.net/10397/11101
ISSN: 1054-8408
DOI: 10.1080/10548408.2013.803392
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