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首页> 外文期刊>Central European Business Review >Asymmetric Impact of Advertising revenues on Consumer Behavior: A Bivariate Approach
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Asymmetric Impact of Advertising revenues on Consumer Behavior: A Bivariate Approach

机译：广告收入对消费者行为的不对称影响：一项双变量方法

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There is very little research in the extant literature on the asymmetry that may exist in consumers reactions to changes in the aggregate level of advertising in the marketplace. Aggregate levels of advertising act as a signal to consumers regarding the health of the economy. In this study, we investigate the extent of this asymmetry in terms of how consumer confidence, which is a proxy for future consumer spending, responds to upturns and downturns in advertising revenues. We find that consumers react with higher levels of confidence to upturns in advertising revenues. However, consumers do not react to downturns in advertising revenue with commensurate reductions in consumer confidence. They ignore the signaling effects of a downturn in advertising revenues, displaying asymmetric behavior in response to changes in advertising revenue. The increase in consumer confidence resulting from an increase in advertising revenue is a delayed response effect and comes after two quarters lag. It is statistically significant at conventional levels for the following two quarters as a response to a one-time upturn in advertising revenues. The results provide important information to practitioners and researchers on the asymmetric signaling and ratchet effects of advertising on consumer behavior. The implication for practitioners and policy makers is that aggregate increases in advertising has a delayed positive effect on consumer confidence with positive implications for consumer spending. The implications for researchers is another example of asymmetry in human decision-making and specifically the tendency to embrace positive and ignore negative economic signals. The implication for investors is a better understanding of how macro advertising expenditures function as a leading indicator for consumer confidence, consumer spending, and economic growth.
机译：在消费者中可能存在于市场中可能存在的不对称的不对称性的基础文献几乎没有研究。广告的总水平是关于经济健康的消费者的信号。在这项研究中，我们在消费者信心的方面调查了这种不对称的程度，这是未来消费者支出的代理，响应广告收入的翻修和低迷。我们发现消费者对广告收入的高度充满兴奋地反应。然而，消费者对广告收入的低迷作出反应与消费者信心的相应减少。它们忽略了广告收入下降的信令效应，以响应广告收入的变化显示不对称行为。由于广告收入的增加而导致的消费者信心的增加是延迟响应效应，并在两季度滞后后来。在以下两个季度的常规水平中，它是统计学意义的，作为对广告收入的一次性上升的反应。结果为从业者和研究人员提供了关于消费者行为广告的非对称信号传导和棘轮效果的重要信息。从业者和决策者的含义是广告的总体增加对消费者信心具有延迟积极影响，对消费者支出的积极影响。对研究人员的影响是人类决策中不对称的另一个例子，特别是接受积极和忽视负面经济信号的趋势。投资者的含义更好地了解宏观广告支出如何作为消费者信心，消费支出和经济增长的主要指标。

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