| Summary: | 碩士 === 輔仁大學 === 餐旅管理學系碩士班 === 95 === The benefits of brand investment mainly come from the increase of firm’s sales.First, this study construct an estimation method of brand investment by the association between firm’s operation input and marketing input.Second, we use Ohlson(1995) model and return model to examine the value relevance of t operation input and marketing input.
The empirical results find that: marketing input estimation values have value relevance in the price model and return model, while operation input don’t.
We have examined the value relevance in different ways, so the results should be persuasive. The conclusions of our study have reference values for academy, industries, standard setters, businesses and investors.
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