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 …

between advertising and subsequent net cash flows for Taiwan's mutual fund industry. Based on a comprehensive mutual fund … dataset and allowing for a precise estimation of fund inflows and outflows, we find that there is positive advertising … advertising works well during relatively low interest rate environments, which are generally interpreted as exhibiting low cost of …