How do heterogeneous institutional investors influence corporate advertising decisions?

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dc.contributor.authorKang, Sanggyu
dc.contributor.authorChung, Chune Young
dc.contributor.authorChoi, Wonseok
dc.date.accessioned2023-03-23T17:40:41Z
dc.date.available2023-03-23T17:40:41Z
dc.date.issued2022
dc.descriptionArticle originally published in Research in International Business and Finance, 62, 101698. English. Published online 2022. https://doi.org/10.1016/j.ribaf.2022.101698
dc.description.abstractMarketing increases firm value; therefore, it is imperative to determine the factors affecting corporate marketing decision processes. Considering that the current understanding of these factors is limited, this study examines institutional investors’ effects on Korean firms’ marketing decisions by focusing on advertising spending. We present evidence that institutional investors may play a significant role in such decisions. Further, our results indicate that domestic institutional investors negatively influence advertising spending. In contrast, foreign institutional investors positively impact advertising spending regardless of their investment horizon. These results highlight the influence of external institutions’ characteristics in firms’ marketing decision processes.en_US
dc.identifier.citationThis is a post-print version of an article that is available at https://doi.org/10.1016/j.ribaf.2022.101698. Recommended citation: Kang, S., Chung, C. Y., & Choi, W. (2022). How do heterogeneous institutional investors influence corporate advertising decisions? Research in International Business and Finance, 62, 101698. This item has been deposited in accordance with publisher copyright and licensing terms and with the author’s permission.en_US
dc.identifier.urihttps://hdl.handle.net/11274/14716
dc.identifier.urihttps://doi.org/10.1016/j.ribaf.2022.101698
dc.language.isoen_USen_US
dc.publisherElsevieren_US
dc.subjectAdvertising spendingen_US
dc.subjectInstitutional investorsen_US
dc.subjectInvestor heterogeneityen_US
dc.subjectKorean marketen_US
dc.titleHow do heterogeneous institutional investors influence corporate advertising decisions?en_US
dc.typePost-Printen_US

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