{"title":"金融发展与国家级广告支出:经济发展和民族文化的调节作用","authors":"Berrak Bahadir, S. C. Bahadir","doi":"10.1177/1069031x20936278","DOIUrl":null,"url":null,"abstract":"Firms invest in brand capital through advertising. Financial constraints hinder firms’ ability to fund their investment projects. Empirical studies in the finance literature suggest that firms’ access to external financial resources, labeled “financial development,” affects their investment behavior. The authors take the view of advertising spending as investment in brands and study the effect of financial development on advertising spending at the country level using a panel of 59 developing and developed countries during 1990–2016. The results suggest that financial development has a positive and significant effect on advertising spending, and this effect is stronger in countries with a low level of economic development. Furthermore, the authors investigate the role of national culture dimensions including uncertainty avoidance, long-term orientation, collectivism, masculinity, and power distance in the relationship between financial development and advertising. Overall, the results provide evidence that the impact of financial development on advertising spending depends on the national culture dimensions.","PeriodicalId":48081,"journal":{"name":"Journal of International Marketing","volume":"28 1","pages":"20 - 3"},"PeriodicalIF":4.9000,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/1069031x20936278","citationCount":"10","resultStr":"{\"title\":\"Financial Development and Country-Level Advertising Spending: The Moderating Role of Economic Development and National Culture\",\"authors\":\"Berrak Bahadir, S. C. Bahadir\",\"doi\":\"10.1177/1069031x20936278\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Firms invest in brand capital through advertising. Financial constraints hinder firms’ ability to fund their investment projects. Empirical studies in the finance literature suggest that firms’ access to external financial resources, labeled “financial development,” affects their investment behavior. The authors take the view of advertising spending as investment in brands and study the effect of financial development on advertising spending at the country level using a panel of 59 developing and developed countries during 1990–2016. The results suggest that financial development has a positive and significant effect on advertising spending, and this effect is stronger in countries with a low level of economic development. Furthermore, the authors investigate the role of national culture dimensions including uncertainty avoidance, long-term orientation, collectivism, masculinity, and power distance in the relationship between financial development and advertising. Overall, the results provide evidence that the impact of financial development on advertising spending depends on the national culture dimensions.\",\"PeriodicalId\":48081,\"journal\":{\"name\":\"Journal of International Marketing\",\"volume\":\"28 1\",\"pages\":\"20 - 3\"},\"PeriodicalIF\":4.9000,\"publicationDate\":\"2020-09-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1177/1069031x20936278\",\"citationCount\":\"10\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Marketing\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1177/1069031x20936278\",\"RegionNum\":2,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Marketing","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/1069031x20936278","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
Financial Development and Country-Level Advertising Spending: The Moderating Role of Economic Development and National Culture
Firms invest in brand capital through advertising. Financial constraints hinder firms’ ability to fund their investment projects. Empirical studies in the finance literature suggest that firms’ access to external financial resources, labeled “financial development,” affects their investment behavior. The authors take the view of advertising spending as investment in brands and study the effect of financial development on advertising spending at the country level using a panel of 59 developing and developed countries during 1990–2016. The results suggest that financial development has a positive and significant effect on advertising spending, and this effect is stronger in countries with a low level of economic development. Furthermore, the authors investigate the role of national culture dimensions including uncertainty avoidance, long-term orientation, collectivism, masculinity, and power distance in the relationship between financial development and advertising. Overall, the results provide evidence that the impact of financial development on advertising spending depends on the national culture dimensions.
期刊介绍:
As the globalization of markets continues at a rapid pace, business practitioners and educators alike face the challenge of staying current with the developments. Marketing managers require a source of new information and insights on international business events. International marketing educators require a forum for disseminating their thoughts and research findings. Journal of International Marketing(JIM) is an international, peer-reviewed journal dedicated to advancing international marketing practice, research, and theory. Contributions addressing any aspect of international marketing management are published each quarter.