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Are multiple brand endorsements economically effective?

Lookup NU author(s): Dr Saurabh BhattacharyaORCiD



This is the authors' accepted manuscript of an article that has been published in its final definitive form by Emerald Publishing Limited, 2018.

For re-use rights please refer to the publisher's terms and conditions.


Purpose The purpose of this study is to examine the impact of multiple brand celebrity endorsement strategies on firms’ performance and different attributes associated with celebrities on firms’ performance. In this regard, the present study specifically explores the role of celebrity reputation and experience, as well as social media as a promotion platform in influencing the economic effectiveness of multiple brand endorsement strategies, i.e. proportion of brands endorsed in a firms’ brand portfolio.Design/methodology/approach Study is based on instrumental variable regression analysis approach and is conducted in one of the emerging markets, i.e. India.Findings The findings indicate that firms’ market valuations increase as its proportion of brands endorsed by celebrities increases. Furthermore popularity reputation of celebrity also influences market valuation, and relationship is positively moderated by celebrity’s experience.Originality/value – Extant studies have considered one endorsement news of a firm at a time. However, how total proportion of firms’ brand endorsed by celebrities impacts its performance has not been investigated. Furthermore, impact of celebrity traits has been examined only in consumer behavior studies and has been rarely investigated in context of firms’ economic performance

Publication metadata

Author(s): Agnihotri A, Bhattacharya S, Prasad S

Publication type: Article

Publication status: Published

Journal: Journal of Product & Brand Management

Year: 2018

Volume: 27

Issue: 5

Pages: 523-533

Print publication date: 30/11/2018

Online publication date: 30/11/2018

Acceptance date: 21/11/2018

Date deposited: 22/01/2019

ISSN (print): 1061-0421

ISSN (electronic): 2054-1643

Publisher: Emerald Publishing Limited


DOI: 10.1108/JPBM-08-2017-1549


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