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Should Firms Spend More on Research and Development and Advertising During Recessions?
2011
Journal of Marketing
Whenever a recession occurs, there is a heated dialog among marketing academics and practitioners about the appropriate levels of marketing spending. In this article, the authors investigate whether firms should spend more on research and development (R&D) and advertising in recessions. They propose that the effects of changes in firms' R&D and advertising spending in recessions on profits and stock returns are contingent on their market share, financial leverage, and product-market profile
doi:10.1509/jmkg.75.3.49
fatcat:wxup27ah3bcuhprs2s7lkrrtk4