Prior studies have found that a firm's advertising for one of its products can spill over and enhance sales for other … existing products with the same brand name. This study examines whether the advertising spillover effect exists in the mutual …'s advertising, results indicate that fund family's advertising can significantly increase the family cash flows for large fund …

This paper studies the role of advertising in the mutual fund industry. I use comprehensive advertising data along with … and persuasive roles of advertising. I first establish that advertising significantly increases investor flows at the … mutual fund family and ads by political campaigns as exogenous shocks to advertising. I further provide evidence for …