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JOURNAL OF MARKETING DEVELOPMENT AND COMPETITIVENESS
Super Bowl Ads Linked to Firm Value Enhancement
Author(s): Chuck Tomkovick, Rama Yelkur, Daniel Rozumalski, Ashley Hofer, Cory J. Coulombe
Citation: Chuck Tomkovick, Rama Yelkur, Daniel Rozumalski, Ashley Hofer, Cory J. Coulombe, (2011) "Super Bowl Ads Linked to Firm Value Enhancement" Vol. 5, Iss. 2, pp. 29 - 43
Article Type: Research paper
Publisher: North American Business Press
Abstract:
In this study, stock prices of publicly traded Super Bowl advertisers were compared with the S&P 500 for
the years 1996-2010. Results indicated Super Bowl stocks outperformed the S&P 500 by over 1.0 percent
in the test period. A performance difference was also identified across the ten trading days. No such
significant results were detected in the control period. Additionally, no Super Bowl stock price
performance differences were found related to ad likeability or industry category. This research indicates
that advertising in the Super Bowl may be a tradable event independent of actual ad content, ad
popularity, or industry category.
