Joint effect of brand value and advertising on stock returns in the automotive and components manufacturing companies accepted in Tehran Stock Exchange

According to the fact that most advertising and marketing costs are not measurable through financial performance, for this reason, understanding dedicated brand value and the consequences of advertisement are so important to focus on investing in branding and marketing. This quantitative research sought to understand the common effect of brand value and cost of advertising on financial performance (stock returns) companies in the automotive and components construction. The theoretical framework of the resource considers resource-based view and expresses intangible assets of a company has a positive relationship with keeping the company competitive advantage. The key research question includes the joint effect of brand value and cost of advertising on stock returns. Information about the research project is including the cost of advertising and brand value of 5 companies listed in Tehran Stock Exchange from 2001 to 2012, as well as information related to stock returns has been extracted from the financial statements. The results of this study indicated that the dependent variable (stock returns) and the joint effect of brand and advertising are related

کلیدواژه ها:

brand value ، stock returns ، resource-based view