Funding marketing resources and capabilities during a recession: An empirical examination of top corporate advertisers

Angulo-Ruiz, Fernando; Donthu, Naveen; Prior, Diego; Rialp-Criado, Josep

Funding marketing resources and capabilities during a recession: An empirical examination of top corporate advertisers

Author

Angulo-Ruiz, Fernando

Donthu, Naveen

Prior, Diego

Rialp-Criado, Josep

Date

2022

Keywords

marketing capabilities, marketing budget, internal financing, external financing, network DEA, RBV, Pecking Order theory, recession, strategic financial flexibility

Abstract (summary)

We ask whether the funding behaviour of companies is different during a recession. Specifically, we study whether firms fund marketing resources and capabilities with internal or external financing during a recession, and under which conditions of strategic financial flexibility debt might be used to fund marketing resources and capabilities in recessions.

Publication Information

Angulo-Ruiz, F., Donthu, N., Prior, D., & Rialp, J. (2022), “Funding marketing resources and capabilities during a recession: An empirical examination of top corporate advertisers”. European Journal of Marketing, 56 (8), 2138-2171. DOI: https://doi.org/10.1108/EJM-06-2020-0423