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Title: Estimating the long-term effects of advertising on sales: A co-integration perspective
Authors: Leong, S.M. 
Ouliaris, S. 
Franke, G.R.
Keywords: Advertising effects
Lydia Pinkham
Issue Date: 1996
Citation: Leong, S.M.,Ouliaris, S.,Franke, G.R. (1996). Estimating the long-term effects of advertising on sales: A co-integration perspective. Journal of Marketing Communications 2 (2) : 111-122. ScholarBank@NUS Repository.
Abstract: Co-integration econometrics have important theoretical advantages over more traditional approaches to estimating the long-term effects of one variable on another. When advertising and sales data are co-integrated, adaptations of common econometric procedures may be used to estimate the long-term effects directly rather than inferring them from short-term relationships. This paper presents a method for detecting and estimating co-integrating relationships using ordinary least-squares regression procedures. The method is illustrated with the well-known Lydia Pinkham data from 1907 through to 1961. The results show that there was a strong positive relationship between Lydia Pinkham advertising and sales in the long-term. Implications of the method and findings are discussed.
Source Title: Journal of Marketing Communications
ISSN: 13527266
Appears in Collections:Staff Publications

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