Both managers and investors are increasingly concerned with the impact of advertising spending on shareholder returns. This study investigates the analyst-based processes by which advertising may create firm value. Using a large longitudinal dataset with 1,052 firms over 20 years, we find that...

Advertising accountabiilty demands that advertising efficiency be measured, maximized, and benchmarked. In this paper we demonstrate the application of Data Envelopment Analysis to benchmark advertising efficiency. Data Envelopment Analysis can be used to estimate the relative efficiency of...