The Effect of Third-Party Endorsements on a Firm''s Market Value: An Examination of National Type, Product Type and Corporate Brand Image Type of Awards.

• Main Authors: Hsiu-Hui Wu, 吳秀慧
• Other Authors: Shih-Tung Shu
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/48671485941074487908

碩士 === 國立高雄第一科技大學 === 行銷與流通管理所 === 98 === Third-Party Organization (TPO) endorsements in terms of winning awards and top rating has grown increasingly popular in recent years. However, less empirical studies in the marketing literature have investigated whether the accumulation of TPO endorsed awards affects a firm''s market value measured by Tobin''s q. This study focused on investigating the relationship between a firm''s market value and its accumulated TPO endorsed awards by using a five-year cross-sectional data from a sample of 131 listed companies covering PC & peripheral, network communications and opto-electronics industries. The empirical results indicate that TPO endorsed awards, particularly of the national type and the corporate brand image type significantly affect a firm''s market value. That is, the higher a firm''s accumulated density of these types of awards is, the greater is the firm''s market worth.