THE ECONOMIC VALUE OF CELEBRITY ENDORSEMENTS: A LITERATURE REVIEW
THE ECONOMIC VALUE OF CELEBRITY ENDORSEMENTS: A LITERATURE REVIEW

Summary/Abstract: Research on the increasing relevance and presence of celebrity endorsements, the mechanisms by which celebrity endorsements impact the market, and the link between stock market value and celebrity endorsements has yielded fairly consistent findings over the past decade. Applying new conceptual and methodological approaches, this study advances to the next level research on celebrity endorsements’ consequences on advertising effectiveness, the employment of celebrity endorsers as an advertising scheme, and the impacts of celebrity endorsement announcements on the market value of the firm. The theory that I shall seek to elaborate here puts considerable emphasis on celebrity endorsement persuasion effects, the potential advantageous influence of celebrity endorsements on sales and market shares, and the effect of celebrity endorsements on the brands and on products presented in the advertisements.

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