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Marketing Investments and Company Value in Developing Countries

BAR, Brazilian administration review, 2022, Vol.19 (2), p.1-24 [Peer Reviewed Journal]

2022. This work is published under https://creativecommons.org/licenses/by/4.0 (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;This work is licensed under a Creative Commons Attribution 4.0 International License. ;ISSN: 1807-7692 ;EISSN: 1807-7692 ;DOI: 10.1590/1807-7692bar2022200077

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  • Title:
    Marketing Investments and Company Value in Developing Countries
  • Author: Carvalho, Lucas Silvestre de ; Vasconcelos, Diogo de Siqueira Camargo ; Belli, Márcio Marcelo ; Gaio, Luiz Eduardo ; Fonseca, Gleison Lopes
  • Subjects: Companies ; company value ; Consumers ; Decision making ; Developed countries ; Developing countries ; Distribution channels ; Economic development ; Inconsistency ; Industrialized nations ; Investments ; LDCs ; MANAGEMENT ; Marketing ; marketing investment ; Panel data ; Product development ; tobin’s q ; Value ; Variables
  • Is Part Of: BAR, Brazilian administration review, 2022, Vol.19 (2), p.1-24
  • Description: The evolution of the economic context has intensified competition in retail, creating new challenges for companies. Among these challenges are the difficulty of measuring the results of marketing activities, the inconsistency in the sources of information, and the disregard of the temporal characteristics of the returns on these investments. Considering that this context may differ depending on a country's stage of development, the objective of this study is to analyze the impact of marketing investments on the value of companies. To this end, Tobin's Q was used as a financial variable and the sample was divided into two groups to discriminate between developed and developing countries. The sample included 1,872 companies from 97 countries. The technique used for analysis was a hierarchical multilevel model of panel data. The results reveal that investment in marketing has a positive relationship with the financial indicator Tobin's Q, and the impact of such investments in developing countries is greater than it is in developed countries. Thus, from the results of this work, it can be concluded that marketing investments have a beneficial potential for societies, especially those that are in economic environments considered to be in development.
  • Publisher: Rio de Janeiro: Associação Nacional de Pós-Graduação e Pesquisa em Administração
  • Language: English;Portuguese
  • Identifier: ISSN: 1807-7692
    EISSN: 1807-7692
    DOI: 10.1590/1807-7692bar2022200077
  • Source: SciELO
    DOAJ Directory of Open Access Journals
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
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